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Using cash instead of my debit card...

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  • #1

    Using cash instead of my debit card...

    ...so I am going to try to challenge myself this week.

    I find that I use my debit card a lot. When I go online and check my monthly statement...I can see that I use it nearly every single day. Insane.

    So, I took out $100 and I am going to try to make it last until I get my next paycheck. That will be September 26th. ::gulp::

    I put the 5 20's in my wallet and I though, "Oh my God...I never carry this much money!". Then I realized...I don't think much of ringing up $70 groceries....$40 random trip at walmart....$20 kmart trip...

    ...but I think having the cash might make a difference.

    I am also going to see if I can just go food shopping once every two weeks. I went today and am going to see if I can make it! I only spend $50! Can I really average $100 a month on groceries? That would rock....


    I will keep ya updated!
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  • #2
    Funny--In comparison, this summer I got a debit card tied to an 5+% interest bearing checking account. I have to use the debit card at least 12 times per month in order to get the full interest. I have to make an effort to use that card, force myself to remember to use it. I'm uncomfortable carrying around a card which could empty my entire account. After I've used it the dozen required times, I lock it up. Then I switch over to my cash rewards credit card.
    "There is some ontological doubt as to whether it may even be possible in principle to nail down these things in the universe we're given to study." --text msg from my kid

    "It is easier to build strong children than to repair broken men." --Frederick Douglass

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    • #3
      Wow Joan, that is very interesting. I think I am just so used to NEVER having more than 2 or 3 dollars in my wallet.

      I am hoping that this curbs my spending. I am really trying to save a large portion of my salary while I can...once I buy a house, I know I am not going to have so much disposable income.

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      • #4
        I can't remember the last time I carried cash in my wallet. I tend to burn up my bank debit card, strip is almost missing along with the signiture part. I have been trying to give myself $100 to spend a week and I spend that almost too fast. I hate looking at my statement due to seeing like 5 transactions a day. I spend way too much.

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        • #5
          S&S, We are cash users. We love it. I just don't seem to buy unnecessary items. I was like you and wouldn't think about what I was doing with my debit card or cc. It wasn't as final as handing over cash. We take out cash each paycheck for our fun money and I rarely spend it all.

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          • #6
            I'm not a cash spender either. I simply don't carry around cash, but I also don't usually spend outside my budget. I've still been thinking about giving it a try though. I know Larry Winget always tells people that they should only EVER spend cash, and never use the change, but literally put it in a piggy bank. I'll be very curious to see how it works out for you. :-) Good Luck!

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            • #7
              I definitely agree that cash spending saves me a lot more money than debit spending. I tend to ballpark how much I'm spending on the debit card while the cash is what it is. My personal goal is to actually leave the debit card at home. (I always think there's going to be an emergency). Please post updates.

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              • #8
                I pay in cash for groceries, gas, dining out, etc. anything that isn't a monthly bill.

                I don't believe in using debit cards and use a credit card rarely (for large, irregular expenses).

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