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One of the best ways to save money that we know of at Rubbingnickels.com is to put yourself on a cash budget. On January 1st, I put myself on a cash budget to try to get control of the amount that I was spending on discretionary items (i.e. makeup, clothes, shoes, lunches with the ladies, etc.). I made it about 8 days and then I had a lapse of concentration and ordered a book at Amazon.com. Whoops! But in general, I think it’s a good idea to try a cash budget if you need to work on decreasing your credit card debt.
There are lots of advantages to spending cash. For one, having cash in my wallet keeps me away from places that I don’t belong anyway, namely, Neiman Marcus and the Kate Spade store. You may have $200 in your wallet for the week, but it won’t last long if you wander into one of those stores. Another reason that cash decreases my spending is that it keeps me from shopping online. I’m online off and on all day long (as many bloggers are), so limiting my online shopping is a great way for me to save money. Here are some other reasons that we think cash budgets are the bomb:
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Paying with cash makes you pause and think about how much you NEED the thing you are buying.
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Cash budgets stop your “extra” credit card spending and can help you decrease your credit card debt.
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When that gorgeous, glossy catalog comes in the mail, you’ll choose frugal living and throw it in the recyle bin.
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Paying with cash makes you search harder for “good deals” on items you want or need.
I promise that I’ll take another shot at my cash budget if you will.
Sincerely,
Darcy Ratner and Julie Arnheim
Founders, Rubbingnickels.com
a friend
