Cash – I’m falling back in L.O.V.E. with it!
In the beginning of August I started an experiment. I decided to take out of my checking account cool, hard CASH to see if I could live on this, and this alone for my day-2-day spending. I’m trying my own version of the ‘envelope’ system within my budget software.
I’ve always known that I’m bad with my debit card, let alone a credit card. I would go to a supermarket, and decide to spend say £10.00 (around $15.00). However, somehow I would end up spending more money than I should, and I would pay for it on my debit card without actually thinking ‘hey, stop spending too much money, girl, you can’t afford it’! I would then wait a few days before it came out of my account (sometimes instantly, and sometimes up to 1 week, depending upon the retailer). That can be ‘so frustrating’ to ‘wait’ for the money to leave your account. So I decided to do what my parents do – USE CASH ONLY FOR EVERYDAY STUFF.
I’m loving it! You instantly stop spending on anything and really ‘think’ about whether you can afford it or not. When it’s gone, it’s gone… I have £30.00 (around $50.00) left in cool, hard CASH for this week – far more than I actually need, and I’m really happy about that.
Another momentum thing I’m doing is writing everything, yes EVERYTHING money-wise in my diary on a daily basis. Spending £25 at the supermarket? Write it down. Spent 59pence on a packet of chips today? Write it down. It’s all written in black and white – I need to see where my ‘cash money’ is going.
I’m also collecting those little spare pennies (cents) and started to put them into a jar. Once the jar is full, I’m going to count it all up, and put directly towards my debt! It’ll probably take around 4 months or so to get filled, however I’m going for it…
‘every little helps’…