So we’ve been trying to be all Dave Ramseyish around here lately and have started a new budget using the cash/envelope system. The new year created a need for a new budget, and our upcoming 10th anniversary has created a need to save up for the exciting trip we have planned. It’s a $$$ strategy I’ve known about forever but am just now taking the plunge. Anyone else a casher?
We’re 5 weeks in, and it’s gone fairly well. If you have no idea what I’m talking about, it’s basically pulling out most of your spending $$$ and budgeting it out into specific categories (envelopes). It’s a pretty simple concept that you are forced to follow…if you don’t have it, you can’t spend it. I still use the debit card or checking withdrawal for bills and gas but pretty much everything else is cashola.
And because this is a major change from using the debit card for everything, I have discovered something a little surprising. People seem annoyed at me for using cash. I now often find myself having to make correct change, which takes a little longer. I can’t get over the looks of pure annoyance I feel as I fumble for the quarter, nickel, and two pennies. It takes 10 seconds folks...patience anyone?
We’re 5 weeks in, and it’s gone fairly well. If you have no idea what I’m talking about, it’s basically pulling out most of your spending $$$ and budgeting it out into specific categories (envelopes). It’s a pretty simple concept that you are forced to follow…if you don’t have it, you can’t spend it. I still use the debit card or checking withdrawal for bills and gas but pretty much everything else is cashola.
And because this is a major change from using the debit card for everything, I have discovered something a little surprising. People seem annoyed at me for using cash. I now often find myself having to make correct change, which takes a little longer. I can’t get over the looks of pure annoyance I feel as I fumble for the quarter, nickel, and two pennies. It takes 10 seconds folks...patience anyone?
13 comments:
Yep, we are "cashers" as well . . have been for several years. It sure holds you accountable for using your money wisely! And I love it when the Lord shows me He's got things under control like when I go grocery shopping and only have a certain little amount of money left . .and the total almost equals what I have exactly. He is good to provide!! Blessings!!
it is a great system....and once you gain confidence and consistency, you can create virtual envelopes and use that debit/credit card -- as long as there is money in the "envelope" and you pay your bill off completely every month (if using credit)
We've been cashers and fans of Dave since '05 when God changed our lives through him! I am now a cash freak and sure you feel funny sometimes counting out change but not as silly as the girl in front of me paying for a .79 cent coke with a debit card!
Jeff and I love the cash system. We also have bought gift cards from Wal-Mart, Sam's and Costco that you can add money to them when they run out. It makes Jeff feel safer knowing I am not walking around with a lot of cash in my purse. Truth is, I think he is afraid I will lose the envelope and wants to spare my feelings. :)
You know we are Dave fans around here!! We really slacked off and started using our debit cards instead of envelopes, but it didn't work as well. We are back on the cash wagon!! I'm glad it's working for y'all!
We're all over Dave Ramsey these days too- started in Jan to pay off Shane's school loans in 2 years. We're not doing cash for everything, but still sticking to our budget down to the dollar! It's going well so far, but I'm realizing how much money we wasted before!
We initially just tried to "be good " with our credit cards and not spend a lot and pay them off every month. That just wasn't working, so Brad being a big dave ramsey fan suggested we try the cash thing. It's been just about a year now, and it has worked GREAT for us!! It makes you accountable for what you spend and I think you're more aware of those ways that God blesses your family with things cuz somehow there is just enough to make it to the end ot the month!! We don't do "envelopes" just basically one big envelope!
We've done the envelopes and it was amazing. Good Luck :)
We are Dave Ramsey fans too! Financial Peace University was a great class, we learned so much! It makes you very aware of where your money goes.
Count us in on the cash too. I like it too for our "monkey money"...that's the money Michael and I have to spend on our personal luxuries (it ain't much but it's something)...and since one person's luxury is another person's necessity, there's no "judging" someone else's choice when it comes up on the bank statement. If he wants to save up his money to buy a frisbee (yes, the man is 30) and I want to buy Starbucks every week (or other day), then fine. You got your cash? No questions asked...well, I guess I have one..."A FRISBEE??? REALLY?" ;0)
Hi Kelly! We too have been cashers for about one year now and we love it. It really lets you know where you are spending your money and what you need to work on. I thought that when we started, I would hate it but I was very surprised at how well it works. Christmas was wonderful this year by paying cash for everything! God is so good and how He blesses us is beyond our imagination. Keep up the good work!! Love ya, Twila
Wow that's for sure one step plus my noting down every single money that I spent for the last month...
But I agree, it's really a lesson to see the difference in spending 50 bucks with a nice little card or in cash. Cash hurts more, doesn't it...?
Hm...I've wanted to try this for a while, but isn't it annoying to have to go cash all your checks everytime you get them? I mean as opposed to direct deposit? That may seem a petty question, but that's what comes to mind!
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