cash in a purse

Gingham_Ribbon · 27 July 2007 at 7:47AM

I use a card as I can check my bank statements but I'm going to have to cut back a bit further and will start using cash so it's easier to keep track of day to day.

vfairbrass · 27 July 2007 at 8:34AM

I seem to do the opposite to everyone else. I take out as cash each week only what I count as 'fun' money - paying for the swimming pool, newspapers, occasional drink in a pub. If I buy any food with cash, this week at a pick your own farm for instance, I pay myself back.
Everything else I pay for on my credit card which gives me cash back. I use a money management programme and have allocated my resources to the specific categories used by Martin in his Money Diet book. So when I enter each item of credit card spending it is allocated to a category and I can see if I am going over at the end of each month. I am on a tight budget - one pension for two adults, one teenager at home and one at Uni - and have found this is the only way which works for me.
I pay off my credit card in full each month.

brila · 27 July 2007 at 8:45AM

I've generally used my debit card because it's less hassle but now I'm starting to use cash for everything because I *want* it to be a hassle (to spend). Also, if I lose a receipt and don't write it in my balance book at the end of the day it means my *real* balance (as opposed to the bank's balance, which doesn't take into account direct debits that are coming out in the next week or so and cheques that haven't cleared etc.) is out. So I'm trying to take out grocery and day-to-day money out in cash at the start of the month.

My only issue with this is it's easier to "nickel and dime" myself to death because I would never just buy a paper or something small with my debit card, but cash in my pocket makes it easier. I need to work on this!

dronid · 27 July 2007 at 9:31AM

I use Amex platinum for 1.5% cashback for everything- not much, about £7.50 per month back but that's £90 per year for doing nothing and it pays for Christmas! I shop online so I know how much I'm spending and I allow myself a set amount of shopping money per week - £10 or £5 per week for extras depending.