Reply to Trying Cash Only Plan

Forum Index » Money and Finances

Reply to "Trying Cash Only Plan"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]We just started an all-cash plan for the next two months.  But we did not use envelopes.  We are using it as a way to be mindful, and track what we spend in an effort to develop an accurate budget at the end of these two months.

Basically, we calculated how much cash we would have each month after deducting bills and automated savings (which we upped significantly).  We then withdrew that whole amount from the bank and split it between the two of us.  Each time we spend anything, we log it into a shared spreadsheet- the date, amount, what it was and a general idea of what "category" it might fall under.  This method allows you to pay for that postage or haircut, but with the consequence that there wil be less money to go around.  At the end of the two months, we'll hopefulyl have spent less money, and also have a very clear picture of where our money is going, beyond general categories.

As an aside, we bought a new house this year and found ourselves spending tons of money on things we "needed" for the new house.  I evantually realized that alot fo the stuff (area rugs, window treatments, patio furniture, towel racks) really could wait until I had saved for them.  Now, we have entire rooms with nothing on the walls because I cannot afford to buy artwork.  I'm OK with that.  It is a "want" not a "need."  I'm not saying you are inth e same boat, but thought you might be.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics