If you have been following me, or even if not and you have read “The Going Green Challenge” you know that I have been on a path of financial enlightenment called “cash only”. I had challenged myself to use cash only to watch my spending, and I have to say, It has been something of a life changer. I truly thought I would stick with this for a paycheck, get tired of it because I wasn’t really changing my habits, and go back to using my debit card. After the first paycheck of saving almost $700.00, I didn’t dare go back. I expected to meet a little resistance with my free spirited husband; however, after he saw how much we saved, he was on the wagon with me and hasn’t looked back. I truly believe this is the easiest and uncomplicated budgeting tool a person or couple can use. There is no fancy moving around of bank accounts or investing, just paying cash. All I did was decide on how much we could afford to spend on the everyday. This cash has been used to pay for food, clothes, drinks, entertainment, or anything not bills or gas. Our bank account has gone from living paycheck to paycheck to having enough to skip a paycheck and still be fine. You may not save this much early, it may take some time, but for us, it has changed our path in life. By living this way and seeing how much money we really didn’t need to spend, we have filled our BEF, baby emergency fund of $1000, savings, and our sinking funds have been started on the right path for everything we’ve wanted. This is truly how we want to live. I believe this plan is solid and for anyone. It is making do with what you have and realizing, in the end, just how much that really is. I believe that even if your budget only allows for you to save $20 a month, this is still the right path to take. Perhaps it is just what you needed to keep from being overdrawn every month. Once you are saving on those overdrawn fees, that $20 may soon turn into $40 or $60. Challenge yourself to see how much you truly save by spending only the cash in your wallet and forget you even have that pesky piece of plastic. Get back to the old school way of thinking about your money, I assure you, you will find a better path.
Get back to the old school way of thinking about your money, I assure you, you will find a better path.