Cash Cash Cash

Today is time to get down and dirty with frugality... 

I'm not pro-style when it comes to being frugal.  I am only learning, but I will post as I learn, and see what you think.  Last month when we went to South Carolina for a vacation we were talking to Scott's sister about their budget.  They have started doing a "cash only" budget, meaning no more credit cards, their paychecks are cashed and seperated into envelopes that designate where the money will go to.  Scott and I thought that was really a great idea.  I would like to think that we are pretty good spending money.  I don't go crazy or anything, but I am not super careful either. Talking to Scott's sister sparked a discussion in our marriage that lasted few days.  We had to discuss things like whether we would just use cash, or if debit or check were allowed too.  Come to find out, we can't pay cash for rent, and its easier to pay debit at the gas station, so we just decided to ix-nay on the creditcard-ay.  So, before September started we went to our budget (one we put together at the beginning of the year and had not touched since we put it together, that is how our budget history goes-the planning is there, but the carrying out is minimal), and decided to make it weekly since Scott gets paid on a weekly basis.  We also decided what we would use cash for, what we would use debit for, and what we would use check for.  We then divied up our cash allowance to all of the different sections of our budget- tithing, savings, utilities, housing, groceries, car, clothing, entertainment, etc. For the last two weeks we have been following this budget, and it feels WONDERFUL!  We are saving more money in general, plus I am spending less at the grocery store (it pays to be more aware when you shop!).  I am motivated because any cash I save from grocery shopping (we only pay cash for groceries) I can use at my discression.  Ya dude! Its so exciting!  Scott's b-day is coming up, so its nice that I have money for his birth-day!  Any extra money we have after all of our purchases for the week goes to our savings account to save up for a future downpayment on a house (we are talking way in the future, who knows when we will stop moving!?!?), college education for the kiddo. 

Anyhow, this is so fun and I am so grateful we are doing this for our family.  I feel more at peace because I see exactly where my money goes.  Its so easy to charge and forget when you have a credit card, and then payment time comes and all of the sudden its like - Hey, how did I spend that much?  It just feels good knowing that I am gaining control of our money.  It really does.  Cash and no credit is the way to go when you spend money. 

What are ways you save money?  I would really like to know.  Any help is welcome as I continue this money saving journey. Who knows?  Couponing might be in my future...

Comments

Lindy said…
Good for you! We are debit only and like it because I can easily see where every penny went. Good money habits can be hard to form. Glad you're doing so well.
Alyssa said…
couponing i know has saved us a ton of money, not tons in the food area but more on shampoo, razons, soap, DIAPERS, etc. we haven't had to pay full price on diapers all year, and i probably spend 25 dollars (if even that) on diapers this year. and we have thought of the cash in envelopes deal also. but we are in the same boat, in the process of sticking to our budget. good luck. :)
Amber said…
One of our favorite, fun saving strategies is that we use our credit card (which has a 1-3% cash back reward) like we would a debit card (logging everything in a transaction log, acting like it's coming right out of checking, etc). Then we pay it off in full each month. You'd be amazed at how fast the cashback adds up! It's always so fun to spend it on a vacation or transfer it into savings at the end of the year. Earning money for doing absolutely nothing. Love it!!! :)
Kristi said…
So... last y ear we were told by our Stake Pres to budget wisely but use a credit card for ALL purchases. We had never even HAD a credit card but have been using it and now have nearly enough miles for a free trip! We pay it off easily every month - because we still use money within our budget but we get to use the credit company's money to go on trips that we otherwise would not be able to afford!
Good luck with the cash only - it is a great thing!! I am super excitd about my different way of budgeting too... different but works for us!

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