Welcome back to the Frugal Tuesday series! I started this last year as a way for me and the other readers to answer any questions that you might have that are frugal or at least semi- frugal-related. If you have a question to ask, just go HERE and fill out the form!
Has your family tried the all-cash approach to purchasing, esp for everyday things like gas, groceries, eating out? ~Ckay
I’ll be quite honest, I didn’t like this question at first. It was convicting to me. Sometimes as much as I want to follow as the saving money “rules” I get side tracked myself. But it’s all a learning experience right? I’ve tried to set up a using cash approach in the past and for some reason it’s always failed us. I think it’s mainly because we don’t usually have alot of extra cash after the bills to use for those other things. And as far as food goes, we buy most of it over the internet through our co-op.
I do think the cash system can work for some people. Using cash really helps you see exactlly where your money goes and when you are out shopping and it’s gone, it’s gone, there just isn’t anything more.
Another reason we stick to our debit card is because our local bank gives us $0.10 each time we swipe it. It may not sound like much but throughout the month it adds up much faster than any interest we’d ever be able to accrue on our checking or savings account so when we get that deposited in our account, it’s like a sweet treat.
However, even though we don’t get to use the cash method, we’ve still found a method that works for us.
I’d love to hear from other readers on this….do you only use cash? If you do, how did you set up your “system”? If you don’t use cash, is there a certain reason?