Cash Budgeting

Something I’ve been considering for a while has been budgeting for gas/groceries/”other” with cash.  Currently each pay day I transfer my budget for groceries and gas onto my Visa and use it for my purchases. The flaw in this system is that I still use my Visa on a weekly basis,  a habit I’d really try to break.

Beginning in January I’m going to withdraw in cash my budgets on pay day for these categories and track it for a few pays to see how effective this is for stopping my Visa usage.  I’m also very excited to start reading Money Rules in January and writing about each chapter.  Hopefully I don’t bore anyone too much!

Check back on the 18th for my debt check in :).


5 thoughts on “Cash Budgeting

  1. It totally works for me on groceries, which is my hotspot where I used to really fritter away money on things I wouldn’t necessarily be able to actually eat that week (or that I shouldn’t be eating at all.) My goal wasn’t to stop using my card — it was to stop wasting money on groceries — so I take out the grocery money in cash and use my card for gas etc. But anyway it definitely makes you think more about what you’re spending and why!

  2. I don’t see myself using cash to pay for gas – too much of a hassle, plus there are usually lines at the pumps where I go – but I have almost completely made the switch for groceries. It’s tough, but necessary, since this is a place where I routinely overspend.

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