Do you struggle with overspending?

So much of what we do is automatic.  When it comes to plastic, it’s easy to go on autopilot.

We whip it out and tap to pay for a coffee at the drive through.  Add a donut to that and you are set for the morning.

You work hard after all, and you don’t always have time to make a lunch.

That shirt in the window called your name.  You think, ‘‘it’s on sale; I’ll never get a better deal.”

When you join friends at the bar at the end of a long day, it’s easy to buy a round.  You aren’t wasting money; you should be able to buy the occasional beer for your friends.

Here’s a challenge that will help you keep track of what you spend.

For two weeks, use only cash.american-963193_641

Go to the bank and take out enough for two week’s expenses.  Set aside the amount you have budgeted for groceries for that two weeks.  Divide the rest into an amount for
each day, and then take only one day’s worth with you in the morning.

The many benefits:

  • You notice when you pay with cash.  The money leaving your hands is so much more tangible than using plastic. You feel it.
  • You see what you spend money on.  With plastic you tend to lose track and small amounts add up.
  • You have set a limit for yourself.
  • You learn to say no to impulse buying.
  • You notice the cost of things.
  • You make your lunch more, or take time to eat something for breakfast.  It’s healthier.
  • You will have to work harder to overspend because you need to find a bank if you want more cash.
  • Sometimes you get a discount when you pay cash.  Always ask, you will be surprised.

 

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