Money On Monday

Money on Monday will be a semi regular feature dedicated to making you feel more powerful and in control of your money.. are you ready??


Coin purse from the Vera Bradley Collection

How much money is in your wallet right now?  Take a guess and then check.. were you close? Even in the ball park?  What about how your money sits in your wallet?  Are the bills in order from smallest to largest as opposed to crumpled up, stuffed or scattered about your purse? If you don't have cash in your wallet why not?

Like Suze Orman and Dave Ramsey ( oddly two people who would not care to hang out with each other) I believe that how we treat our money, how we respect it has a lot of do with how we deal with money and how we understand it and manage it.

Getting right with your money first means knowing how much you have an not playing head games about what you "think" you can afford. This can be painful for some and an exciting challenge for others but I highly suggest that everyone ( at least for a while) try to live on a cash only basis for their non-bill expenses.

We have been living cash based for about 4 years now, daily expenses that once meant frequently zipping the debit card through scanner at the checkout now mean pulling cold hard cash from my wallet. Bills are still handled via online pay but groceries, extras, eating out,  are paid in cash.

Every other week on payday I go to the bank and withdraw enough cash for two weeks worth of expenses and that is it.. that is the money we use. At one time I broke this up into further categories and used envelopes and I really encourage this for anyone just getting a grip on their spending.

As a culture we have become disconnected from cash-money in the age of the debit card, but interesting enough the rate of people overdrawing their account  muliplied x4 with the advent of the debit card ... coincidence?..I think not!

Do you feel confident about money or would you like more tips and skills and ticks to get right with it?

p.s. If you enjoyed this post, and I sure hope you did would you be so kind as to take just a small second to click on one of the sharing buttons down at the very  bottom of this post? There are options for Facebook and Twitter and others...  I really appreciate it!

1 comment:

Janey Millar said...

Hmm, so true. I had a crumpled note in my purse and lots of credit card receipts so this resonated with me! I think it is true that you think more about your expenditure when you have to pay in hard cash, it makes it more real and I am going to try this - credit cards to the freezer.
Thanks for the wake up call!