I pay all my bills online and debit for most transactions, but I take out a set amount of physical cash for groceries each payday. I find that having a physical reminder helps keep me within my budget - It's a lot easier to go $10-$20 over on a shopping trip when you're paying debit and it's just dipping into money budgeted elsewhere. As an added bonus, I empty my change into a jar at the end of each day (it adds up!) and deposit any leftover bills to my savings account at the end of the week.
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Put only your budgeted amount of CASH money for things such as eating out or seeing movies in an envelope. Make an envelop for each category such as groceries, gas, etc. When the cash is gone, you are done. Paying with cash shifts our emotions and makes it harder to over spend.
envelop idea from Dave Ramsey Financial peace University
Pay for everything with cash-do you need it or want it?
We have gone to an envelope system again after several years of not doing so and have saved a great deal just by paying cash for everything we buy, including groceries. You really think about if you need it or want it when you are paying cash!
I've gone from spending $140-150 per week on groceries to $70-75 by purchasing my groceries at ALDI and paying cash.
We have a spending plan (budget). On payday, I go to the bank and get certain budget categories out in cash: food, clothes, allowance, fun, gifts and haircuts. Having a plan and using cash is huge! And, allowance for grown-ups (we call it "mad money") helps to keep adult wants in check too.
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