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Back to Cash

October 21st, 2010 at 03:55 pm

A few months ago, we tried the envelope system for everything but gas. It is just too convenient to swipe the debit card at the pump instead of paying with cash. Last week we went back to using cash for everything except gas.

It seemed last time to take about a pay period to get used to cash. Using cash shows us how much we spend without really thinking about it. The weekend after payday is always the worse. We will spend $100-$200 without even realizing it - and we're not buying stuff. It's from eating out and impromptu trips to the grocery store. Maybe a trip to the bookstore is thrown in there. But using cash we see the ugly truth - we are spending way too much money.

I love cash because it means that the bill money is in the bank. I don't have to worry about figuring groceries, lunches, etc. out of the amount in our account.

I have been saving my receipts so that I see where every penny of the cash went. This way I know exactly where I need to tighten up my spending.

It is such a relief to spend cash. Now hopefully we can get our spending under control and get rid of our debt.

Posted in Budgeting | 2 Comments »

2 Responses to “Back to Cash”

  1. Homebody Says:
    October 21st, 2010 at 04:17 pm 1287677827
    1287677827

    We were doing that too and it was working pretty good until I opened a checking account that pays 2.51% on the first $25,000 in the account, but we have to use the debit card 10 times a month. This was our first month, sort of a test month. I may go back to some cash once we iron out things. But the 2.51% was too good to pass up!

    Good luck!

  2. Jerry Says:
    October 22nd, 2010 at 08:10 pm 1287778252
    1287778252

    I agree that there are some purchases that are just better made with a card or check/online (like gas, and regular bills like insurance and utilities, etc.). Still, using cash for the rest of it really does lead to a feel for what you are spending. It's REAL money, all of a sudden. Good luck!
    Jerry

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