It's true that not every solution works for everyone. But I also think that many people out there don't use credit cards responsibly, as you clearly do. So for them, it's probably a good idea just to take credit cards out of the picture for awhile. Depending solely on cash encourages budgeting ahead of time, and helps to keep you from spending more than what you have in your wallet.
I consider myself a responsible credit card user, but wanted to try out the "cash-only experiment" anyway. I haven't turned to my credit card for almost a month now. I take out two-weeks worth of cash at a time to cover my budget, and aim to have as much of it left over at the end of the two-week period as possible. Being able to literally SEE your savings is a lot more motivating and less abstract than simply curbing credit card spending. So far I've spent about $100 less than I would have with credit. I have also noticed that cash transactions tend to go faster (I don't have to wait for a waiter to run my card in a restaurant, for instance).
It's true that not every
Submitted on May 6th, 2009 by Carrie DavisIt's true that not every solution works for everyone. But I also think that many people out there don't use credit cards responsibly, as you clearly do. So for them, it's probably a good idea just to take credit cards out of the picture for awhile. Depending solely on cash encourages budgeting ahead of time, and helps to keep you from spending more than what you have in your wallet.
I consider myself a responsible credit card user, but wanted to try out the "cash-only experiment" anyway. I haven't turned to my credit card for almost a month now. I take out two-weeks worth of cash at a time to cover my budget, and aim to have as much of it left over at the end of the two-week period as possible. Being able to literally SEE your savings is a lot more motivating and less abstract than simply curbing credit card spending. So far I've spent about $100 less than I would have with credit. I have also noticed that cash transactions tend to go faster (I don't have to wait for a waiter to run my card in a restaurant, for instance).