We have FINALLY done it! Completed an entire month back on the cash envelope system. Whew! We used to do this in WI when the budget was a little tighter but had not gotten ourselves back on it since we moved. I imagine that if you're a St. Luker who's taken Wendy's Financial Peace course, you've been using cash for a long time! But, for the rest of us... it's a big step!In these strained economic times when we all need to tighten our belts and be more frugal and responsible- the discipline of only using cash makes sense. The benefits in brief are:
- We are less likely to spend $$$ when it's cash vs. a card!
- When the $$$ for that line item is gone, it's GONE- and you can easily see it.
- It would be tough to do the cash envelope system without first making a budget- and using a budget is a GOOD THING!
I'm sure there are tons more reasons- but for me- I spend a whole LOT less money when I'm paying cash!
If you do this... do you literally use envelopes? Do you have a little divider for the cash? Something else? I have used a little plastic expandable coupon holder- but I've been unsatisfied with it in 2 ways- 1) when I'm paying, I don't want to pull it out- b/c it's obvious that it's full of case and 2) the coins don't stay IN much less organized. Please share your suggestions. In doing a little time wasting online, I mean, research, I found two things that I am as of yet unwilling to part with my cash for! Perhaps you'll have a better idea :)
Hannah Hansen coupon organizer
Coupon/Script Organizer Wallet
~a more fiscally responsible Katherine
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We don't have credit cards...we don't even have a checking account. We do cash too. We have been cash people for about 2 or 3 years now and we have never been better. We have 1 pre-paid debit card for paying bills over the internet or for purchases but that is it--we still have to have the cash to put on the card.
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