Going CASH from today

save-alot

In an effort to reduce spending I am going cash with my budget from today. All my DD's are in place for regular payments and I will be withdrawing my weekly budget from the cashpoint for food, fuel etc.

Hopeing it will focus my attention (and the other half) and stop me in my tracks from spending more than planned each month.

carrliadiere

Hmm, I am not sure about this. I mean, good luck and all! It's just that I tried the cash thing for a while, and when I ran out I just withdrew some more cash.
Now I go for everything on one card, and I keep a spending diary online so I know exactly what is going out. If you keep a rudimentary spreadsheet of outgoings, then you can come to a pretty complete conclusion of what is and is not 'too much' each month/week/day.

Good luck though! Different things work for different people I guess.

skintscotslass

Good luck!! I think its a great idea. I'm almost at the end of my first cash month. It's worked really well for me. I also keep a spending diary. I jot everything down in a notepad and then update online every couple of days.

Prudent

Its a great system; I do just the same. I have cut my total spend (including all bills) to around £850 per month doing this. I take out £100 on a Saturday morning. I go to the car boot sale, put £20 of petrol in the car and spend around £22 of it on food. Some months my total outgoings are under £700.

I get some great buys at the car boot sale. Last week I got a Next coat - new with tags marked at £95 for £8, a new dress also new with tags for £4 (was £45) and brand new ASOS shoes for £5 (from £55). So for just £17 of the money I got £195 of clothes. My £100 budget works really well for me.

I don't have any debts to pay off, but like to save. Occaisionally, I take an extra amount - when I am off work on holiday for example. But mostly I have no problems sticking to it.

save-alot

I am 2 weeks in to this now and it has been a great help, OH has bought in and we can both see easily what is left and available to spend. I have most certainly spent less than usual.

pinkshoes

I did this at uni and it worked really well. If you run out of cash, you just have to go without rather than withdrawing more, otherwise it defeats the point of it!

Dumb_Blonde_3

The cash thing worked for me and my husband - its so much harder to hand over cash and seeing your purse have less and less in it - rather than pull out the old debit card and feel like you are not spending anything.

Good luck!

doodledo_2

I find cash definately works for me.

I become a bit obsessive about not spending it and keeping it in my purse. Nothing better than getting to the end of the week and having some still in there.

bored_of_debt

carrliadiere wrote: »

I keep a spending diary online so I know exactly what is going out. If you keep a rudimentary spreadsheet of outgoings, then you can come to a pretty complete conclusion of what is and is not 'too much' each month/week/day.

This is what I do now and it works well for me, sometimes worry i'm a bit obsessed with it but I think it's just because I'm eager to get rid of my debt!

themaccas

I've tried this and failed miserably, any tips on how you stick to this, I know you say when it's gone its gone but I have trouble when things need to be bought for the kids for school or work that I haven't expected.

Lucy1982_2

I might give this a go. I've tried it in the past and it was ok... Hmm might pop off the the cash point later!