Author Topic: Cash Only April 2018 Challenge  (Read 551 times)

reformingSucka

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Cash Only April 2018 Challenge
« on: April 02, 2018, 10:41:50 AM »
I noticed that I have been spending more on my CC, and that I have lost some focus on my stashing goals. So in an effort to kick myself back into action (and reduce my use of CC in general), I am challenging myself to a "cash only" April. Aside from necessaries, like groceries and gas - all other spending has to be done in CASH. I am essentially giving myself a cash allowance of $80 a week.

Join me?

Anyone ever done this before, and if so any tips or tricks?

Serendip

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Re: Cash Only April 2018 Challenge
« Reply #1 on: April 02, 2018, 11:42:11 AM »
I've been doing this on & off for a while, even try to pay groceries with cash (I keep a reasonable float, around $200 for everything, replenished every 2 weeks)

Years ago, when I was paying student loan debt, I literally froze my credit card in a block of ice--then I could thaw it if necessary but mostly had to check my spending quite aggressively.
A bit silly if you have good control, but I didn't at the time. It taught me a lot about my habits.

Good luck!




CrustyBadger

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Re: Cash Only April 2018 Challenge
« Reply #2 on: April 10, 2018, 05:50:47 PM »
Yes!   I'm doing this in April as well, as an experiment.  Well, I started with last Friday which was the start of a pay period for me.

I've been watching the Canadian TV show "Till Debt Do Us Part" on Amazon Prime and learning how the host sets up couples with her "cash jar" system.   You keep the money in glass jars at home, labelled according to the budget.  That helps both spouses know exactly what is budgeted for the WEEK, and what is available to spend.  Just about every single couple at the end of the month said they love the jar system and plan to keep doing it; so I decided to try it.

I am the only shopper in my household (well, my husband orders stuff online but we aren't discussing that right now, maybe later....)   I spend way too much on groceries and takeout food, despite my best efforts to cut back.   So this month, I have given myself a weekly food budget for our family of four (2 adults, to hearty eating teens) and challenged myself to menu plan and just grocery shop ONCE.   I spent most of the weekly allowance, but still have $20 in the food jar, so I can see every morning when I wake up ( jars are on my dresser) that I don't have the cash for takeout.

I spent my $15 for "clothing and gifts" pretty much immediately and can see that I can't spend anymore until I get my next allotment.

I am not using cash to pay for gas, however.  I just don't like having to walk into the gas station and prepay, and we use so little gas that it doesn't seem necessary for controlling expenses.

Challenges that crop up will be mostly kid items that need to be ordered online.


2Birds1Stone

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Re: Cash Only April 2018 Challenge
« Reply #3 on: April 10, 2018, 07:18:35 PM »
I would, but 2% cash back, or easily hackable airline/hotel points are too tempting =D