Cash or Card

autumn2012_2

Hi, Im really wanting to start making overpayment on my loan (no penalty) and I am wondering if its easier to withdraw cash for day to day spending or leave it in the bank and use card for day to day spending. I know it depends on how strict you are but with us both working we very rarely have time to spend money lol. Im thinking if I withdraw money for petrol and food etc then that way I can see how much is left in the budget rather than using card and loosing track? My loan repayment is 230 per month for 36 months but I want to save an additional £70 per month and pay a lump sum off? so an additional £940 over 12 months.

crazy_cat_lady

I find working with cash a real eye opener. If the money is in the bank I can spend it quite easily, but I leave cash in the house and only take it out with me if I'm going shopping or for petrol etc. I can't save in the bank, but no issues with using the envelope system...