Cash only lifestyle

thegiver

Thu, Mar 14 2024, 6:43 am

Pls explain how you live cash only if there are 2 people sharing joint account? I feel like we spend until our account goes to 0 when we should spend more calculatedly.

We are trying to limit spending and keep to a budget. I find I’m limited by time for shopping so need to stock up but ….this is a budgeting problem because this also causes me to spend on nonessentials bec unlimited feeling of credit card spending. (Until now)

Bec explain to me how to wisely switch over to cash without needed to put stuff back at the register. Online shopping isn’t convenient for me for many reasons.

We don’t spend on clothing but might splurge on organic stuff cage free etc. I can definitely cut back but … Sad

(((

How do you know what you can afford and what you can’t…

I feel like I’m blowing the food budget by 500 $ a month extra

amother

Yarrow

Thu, Mar 14 2024, 7:10 am

I actually spend way more with cash - it feels like play money to me. I'll end up running out too early and just can't quantify. I agree with the previous poster that debit cards are the way to go.

I also put every purchase into a category, which I can easily do on my bank website if I used my debit card. Then I have a perfect overview of my budget every month and can also see throughout the month how we are doing for each category.

amother

Scarlet

Thu, Mar 14 2024, 7:11 am

We literally cut our CC and only use debit card. Cash does not work for us because we usually end up losing some change for every bill. We still need the CC number for certain bills though. Also CC automatically gets paid the entire balance every month.

realtalk

Thu, Mar 14 2024, 7:18 am

We've done cash only. You need to each have an extra $100 on you for emergencies and yes sometimes you'll end up putting things back at the register (which you should do regardless if your going over budget even with a cc)
It's much more intuitive to have cash. You have to plan out your shopping trips, no more impulse purchasing. We also kept our back account at $200 just in case it was a "pick up this one thing on your way home" situation.

But mainly, we didn't stay cash free forever. We did it to get out of credit card debt and stopped when we hit that goal. It was A LOT to manage with running to the bank every week and sorting out the cash but it worked and worked way faster than any other method we tried.

Bnei Berak 10

Thu, Mar 14 2024, 7:39 am

thegiver wrote:

(((

How do you know what you can afford and what you can’t…

I feel like I’m blowing the food budget by 500 $ a month extra

No more organic cage free
No more individual anything (individual snack bags etc)
Never buy brand products. Buy the cheapest item always.
Get a calculator when shopping

amother

Lawngreen

Thu, Mar 14 2024, 7:48 am

Bnei Berak 10 wrote:

No more organic cage free
No more individual anything (individual snack bags etc)
Never buy brand products. Buy the cheapest item always.
Get a calculator when shopping

It’s not always cheaper to buy the big snack bags. Bc when u fill up a ziplock it actually is more snack than a small bag. And the kids won’t want just 15 chips in the bag. And buying the cheapest isn’t that smart either bc the cheapest cup usually will have a few that are stuck together and then some will crack so u end up with lots of unused broken cups so the amount in the more expensive cup that was maybe .60 more is not more. You just have to shop smarter based on your family needs. We use a cash only system as well. It’s annoying to go to the bank weekly. Everything has gone up tremendously so food is gonna cost. Certain things are the same quality but cheaper. For example the target brand pasta is between .99-1.25 a box in ShopRite is closer to 2.49 for ronzoni and it tastes the same. But Hines ketchup is not the same as some off brand. So if you were to buy the off brand and no one touches it the u just lost 3 when u could have just gotten Hines for 5 and everyone eats it ..

amother

Chicory

Thu, Mar 14 2024, 7:50 am

I'd suggest using a budgeting app such as YNAB. Before you shop you check it to see how much money you have available for each category, and as you spend it you enter the transaction into the app. Both of you will now see the updated amounts.
It'll also make it more natural to build up savings for certain categories every month (such as Pesach), so you don't go scrambling to come up with the extra when it comes.

Elfrida

Thu, Mar 14 2024, 7:55 am

Know your shopping budget in advance.

Take a calculator with you (or use your phone) and keep a running total as you put things into the cart. Know exactly what you're spending before you get to checkout.

With Pesach coming up, try to cut down on the bulk purchases, unless you really need them.

amother

Yellow

Thu, Mar 14 2024, 8:30 am

The real way to do it is the envelope system. Look it up on you tube there are a lot of videos on it.
Start listening to Dave Ramsey. I can’t say all his financial advice is perfect for everyone, but he gets you in the right mindset and you develop a certain mentality and attitude towards money. (It’s not about a 15 yr vs 30 yr mortgage)

zigi

Thu, Mar 14 2024, 8:35 am

Make a shopping list from a grocery store that has similar prices or things on sale. Shop from that list. Take $20 or more for wiggle room. Or only bring 200$ and then use calculator in the store. Keep the receipt. So you know what you are buying and what the average price is for the item. Try to have a buffer amount in the bank. And emergency funds. Have it in an account that is hard to get to.

amother

Stone

Thu, Mar 14 2024, 8:53 am

thegiver wrote:

(((

How do you know what you can afford and what you can’t…

I feel like I’m blowing the food budget by 500 $ a month extra

why can’t you just refine your spending? if you’re aware they organic etc is what’s putting you over the top, just don’t buy that stuff anymore. (you spend $500 on organic every month?) it sounds like the awareness of what you need to change is there

paperflowers

Thu, Mar 14 2024, 10:50 am

Cash is harder to track than a debit card.
Prioritize how important the organic food is for you. If it is top priority, are there other things you can cut back on?
I always spend more in the grocery store than when I order online, even factoring the cost of delivery.