Our dear friends recently told us about their switch over to the “cash diet” with cash in jars, inspired here. Being attached (liked GLUED!) to my debit card, the thought of removing it with cash seemed daun-ting. However, it only took one week of their success and her whismiscle remarks of “it’s so easy” to make me march right up to the teller and request a wack of 20′s!
I came home and decorated two jars – one for Him and one for Her, obviously. Cut the cash in half-ish (he gets more, i need less). Wrote the Rules of the Jars on the fridge. And week #1 has been A) a success and B) so darn easy!
This is how it works, for us:
* All necessary expenses: mortgage, bills, credit card spend, groceries, transportation costs (ie. bus tickets & gas), Willy’s requirements & health expenditures (ie. massage/chiro/acupuncture – because they are returned to us) come out of our joint account.
* Then we set a weekly amount that is fair and reasonable for all other expenses: gifts, coffees, lunch, coffees, dinner, clothing, fresh flowers…you get it…comes out of our cash jars. When the cash runs dry, so do the fresh flowers! It is replenished on Saturdays and lasts until Friday.
And it works. In one short week, it has given meaning and purpose behind every purchase. I value what I spend my money on and have learned to have a new relationship with cash in my wallet (it used to burn a hole!).
Week #2..to infinity and beyond!
Mmh… sounds like something I might have to try. I’ve been relying way too much on my ATM card lately (although I like the fact that you can “budget” online when using your card).
PLEASE tell me you drew this picture.
Hubby G and I do the same sort of thing, but on a monthly basis instead of a weekly basis- at the beginning of each month we withdraw cash from the bank for our “allowance” and when it’s gone, it’s gone! It definitely helps us to keep perspective!
YEAH RIGHT! My husband and I started doing this a month ago! Doesn’t if feel amazing? I was reflecting today on our “cash diet” (as you so aptly put it), and I have decided that I cannot remember a time where I have been able to save, give, and provide more than I have been in the last four weeks. It is quite astonishing to see just how much of what we are given is recklessly spent when we use our little plastic magic wands instead of cold hard cash. I like little green stacks of paper much more now. And cappuccinos taste much better when I have anticipated them for days. This is how I remember that I’m getting out of debt on my cash diet. http://elissasjoy.tumblr.com/post/867127255/the-modern-day-string-around-the-finger-technique