So, Hubby and I have finally decided to switch to spending using only cash, instead of our debit cards. We will start this when I get my first paycheck on April 9th. I'm very excited, mostly nervous though. I hope we can handle it.
I think, though, that it'll be better for budgeting purposes. I have lots of questions though. Do you keep replenishing the cash regardless of how much is left at the end of the week? Or do you only replenish it to the amount it was assigned every week?
The Switch to Cash
March 30th, 2011 at 02:55 pm
March 30th, 2011 at 03:16 pm 1301498200
(It's also nice to see the money build up -- although sometimes if it gets really high, I will take some of it and deposit it into savings.)
March 30th, 2011 at 03:19 pm 1301498390
Many people do different things with the left over money. What you do with the leftover will depend on the category.
If it is food you might want to have second envelope at home with the leftovers from the weeks before so you can use if you find a stockpile opportunity.
Gas the leftover might go right to savings or debt snowball and the end of the week or month depending on if your gas usage varies.
Entertainment or Clothing might be one of those where you only put it into the budget when you know it is coming up. (Holiday time, and or it is getting close to time to replace a coat etc.)
Good Luck
March 30th, 2011 at 04:01 pm 1301500908
Good luck!
March 30th, 2011 at 05:16 pm 1301505383
March 30th, 2011 at 07:39 pm 1301513995
I used Gail Vaz Oxlades Budget sheet to determine how much I should be putting in each jar. And I'm trying to stick as close to that as I can.