After clearing away the tornado wreckage that was the state of my office this morning after a serious sewing binge, I thought I would direct my thoughts for the first time in days on something other than zig zag stitches and business cards.
Naturally money came to mind first.
You see, I was talking briefly with a friend this week about budgeting, and she mentioned that one of her friends had moved to an all cash system for their household finances. Apparently it was working out really well for them, and they were making progress on their financial goals.
All Cash?
But all cash? I had to ask. Could it really help? Was it even possible? There are all kinds of debates going on in the world about the best way to save and spend money. In fact, I was just reading the latest issue of Time magazine where they compared budgeting to dieting, and recommended all the familiar do’s and don’ts (don’t forbid certain purchases, do schedule rewards, etc. etc.). And certainly I have heard that going “all cash” is a clever little psychological trick to keep money in your wallet. Because the rumor is that those handy plastic cards don’t feel like money the way that the green paper and silver coins do. I can see how that would be the case.
A Plastic Convenience...
I can also see, however, how impractical it would be for me to pay everything with the green stuff. Like me counting out change at the gas station. Or sending my nickels in the mail for my gas bill. (I’m being facetious--I’m sure the “cash” system affords for practical deviations.) I’m just so fond of the convenience of plastic.
Worth Trying!
Nevertheless, both my friend and I agreed that using cash for things like groceries, and anything involving me stepping my foot into Target, might be beneficial. So I thought perhaps I would try it. After all, I mentioned on Monday that there were still some budgeting goals that I wanted to tackle before the sun (temporarily) sets on Recessionistas, and this could be a good exercise along that vein.
How About You?
But I’m curious to hear from you. Have any of you readers tried a cash system for spending? Do you think that it would make a difference? Or more generally, do you currently use any clever tricks to keep you financially on track? Please share by commenting below!
And yes, I know that I have lots of sewing updates for you all. Like pictures from my red dress (still have to finish those sleeves!), and a follow-up from last night’s Best Birth Event, and the latest about my efforts in online commerce... I promise it’s all coming!
Previous Recessionista Posts on Budgeting:
Smarty Pants: Fraud Protection
28 Days Makes a Habit (or so they say)
The New Midas Touch
Can I Get a Pulse?
