This is so disheartening. I'm not a fan of deposits to begin with. I only ask for a deposit when I'm traveling a distance to see someone and that's to book travel and make sure he shows up. I'm not going to travel sometimes all day to be blown off.
I never take deposits for regular meetings, I also don't get a lot of NCNS, hardly any. I attribute this to my screening and where I choose to advertise. If I do get blown off, I'm a responsible adult and manage my money well enough that it does not put me in a bad financial situation. Fortunately, I have never been blown off on a travel date.
When I do receive deposits, I do NOT see the money as mine. When deposits are given to lawyers, contractors, etc, legally it goes into an account, it does not belong to the person asking for the deposit. I treat hobby deposits the same way. It gets set aside for 2 days as I allow a full refund within 48 hours of me receiving the deposit. In my experience, most cancellations happen within 48 hours. After the 48 hours, I book travel and ONLY travel. I have not yet earned money so I do not see the deposit as mine.
I've had a few gentlemen cancel after I booked travel. If I can get a refund on the travel, I will send it to them as well as any portion of the deposit that went unused. It sucks to have to give up money over a change in plans, I totally understand this and will try to make it as painless as possible if I can.
A repeat client is more important to me than any deposit.