Leave Your Cards Behind!

This is probably the easiest step to do in theory but not in practice. Most people know they spend more when they use a card versus cash, but do you know how much? It’s staggering- surveys show 83% more! That’s nearly double. I cannot think of an easier way to potentially save money, than by just switching to cash only. I’m going to list a few ways to make the cash method work even better for you. I have personally used both methods with success. 1. Use the envelope method. While creating your monthly budget you use physical envelopes for every category. For example, $50 clothing, $200 Food, $60 Entertainment, etc. When the envelope is empty - you don’t spend anything else for that category. This method is amazing and works extremely well, but it is difficult if more than one person is involved. The one benefit this has over Weekly withdrawals, is that you can potentially save more with envelopes because you’re breaking into 12 months or the equivalent of 48 weeks, instead of 52 weekly withdrawals.

2. Weekly Cash withdrawals. This method is easier to maintain but does require a weekly ATM/Bank visit (Fee Free of course). Take out whatever you monthly budget is for everything like Gas, Groceries, Entertainment, Clothing, Etc. and divide into a weekly amount and keep that amount in your wallet. When I used this method, I rationed myself early in the week and always had a surplus at the end of the week.