Author Topic: Cash Allowance  (Read 640 times)

OurTown

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Cash Allowance
« on: February 05, 2018, 11:28:37 AM »
My wife and I are back on a cash allowance for discretionary spending, and it's fantastic.  Essentially, we each take out cash on Sunday (the amount is not necessarily important), and that's what we spend on all discretionary expenses.  In our case I don't include gas & groceries in our allowance, partly because I think of those as necessaries with their own budget line items, and partly because I have dedicated rewards cards for those particular expenses.

Based on my analysis, our weekly allowance is less than what we were spending on credit card and POS debit card purchases, but doing the cash allowance we each have money left over every week, and we both feel "wealthy."  The wife is not quite as into the money thing as I am, but she is enthusiastic about the cash allowance.

Has anyone else had positive experiences doing this?  Would anyone else like to join us?


formerlydivorcedmom

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Re: Cash Allowance
« Reply #1 on: February 05, 2018, 02:44:06 PM »
I would love to do this, but my husband hates carrying cash, and most of his purchases  are online (Amazon, ebay, etc).

How do y'all handle online purchases?

netskyblue

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Re: Cash Allowance
« Reply #2 on: February 05, 2018, 02:47:31 PM »
Exactly, who buys things in person, in a store, these days?!

OurTown

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Re: Cash Allowance
« Reply #3 on: February 05, 2018, 02:50:49 PM »
I've tried shoving dimes through the fiber optic cable but it doesn't seem to work.

Rosy

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Re: Cash Allowance
« Reply #4 on: February 05, 2018, 06:55:40 PM »
Mr. R. uses cash, but no budget. He seems to have a built-in calculator, because he is always right on the money:)
I have a slush fund of $60 spending money in cash for the month - occasionally that drops as low as $20/40 and sometimes goes up to $80/100.
Since MMM and adding a couple credit cards I decided that I might as well get points for my discretionary spending.

MaybeBabyMustache

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Re: Cash Allowance
« Reply #5 on: February 08, 2018, 04:56:14 PM »
We try to stick to a pretty strict budget, & use credit cards to track. However, I do keep cash on hand, because the kids are forever needing cash for an activity.

We don't have a personal spending budget monthly.