Do you ever use cash anymore? You know, those bills & coins from the “old days.” Those are what I’m talking about.
In the law school days, most of our money was coming from student loans. It felt a bit like play money. Like monopoly money–not quite real.
Now that the debts are due, & we’re getting a steady, decent income stream I’ve turned into a complete tightwad because I’m realizing something. It’s much easier to lower expenditures than it is to increase income.
I see money in a different light with this new reality. Every dollar matters. Every penny, for that matter.
I remember talking with a relative who went to graduate school at a very costly, prestigious university. He talked about how easy it is to justify not being as tight with your money as you could be, because after all, you’re already in debt–what’s a little more?
I could relate with that sentiment. Even though I shopped second-hand, always got things on sale, & did very little personal shopping (except for maybe once a year), we didn’t view money as cash. We saw it as credit. And there is a huge difference between the two perspectives.
Part of our journey towards debt-free living is no longer using credit cards. And even going a step further & not using debit cards except in particular circumstances (ie. online purchases). The rationale behind this, is that research has shown that people spend more when they use debit cards (vs. cash), & even more when a credit card is used (vs. debit, & especially when compared to cash).
Getting out of debt has so many parallels to weight loss. Which makes it a bit easier for me (because you know how much experience I’ve had with weight loss). You have to change behaviors. You have to realize that every choice counts, especially the little ones. Because it’s the little ones that make all the difference.
I’ve have this fear of becoming a penny pincher. I’ve never wanted to be the spoil-sport of the group because I’m nickel & diming the waiter, or not participating in activities because I don’t want to spend the money. But, this new life is teaching me the hard facts of life: it’s much, much easier to trim expenses than to earn more money. Little choices make a big difference–“it’s only $10” has become, “it’s $10!” So, it is necessary to make those little choices that may seem a little tight-wadded to my prior self.
In my efforts to pinch pennies, I’ve been looking for ways to trim expenses on everything. If I can go without, make do, repair what I have, or save a dollar–these are my cheap new thrills. Looking for ways to cut back takes a lot of courage & self-discipline.
For example.
I had a ticket to next years Alt Summit (a design/lifestyle blogger conference) in SLC in January. I bought my ticket the day they went on sale in August (they sold out within a few hours). I’ve been looking forward to going to the conference for some time.
Anyway, I was thrilled I was going to go (it’s one of the best blogging conferences out there), my ticket was already paid for & we had money allocated & set aside for me to go. But recently, I felt it important for me to really put my money where my mouth is.
Am I committed, I mean committed, to getting out of debt? Yes? Then I need to sacrifice. And $1400 for a blogging conference when that money could go towards paying down our debt, is a no-brainer.
So I sold my Alt ticket. Sad, but I know a little sacrifice now will enable me & my family to be in the place we want to be in a few years. It’s that delaying of gratification that is so hard. We want something, & we want it when we want it, darn it. ‘Fraid it doesn’t always work that way (or shouldn’t).
I see my new role as defense, Joseph is offense. He scores the points, I’m mean brings in the money, & I make sure to keep as much of it in our hands as possible.
Using cash isn’t easy, for a number of reasons (one being that it’s not conventional). But there’s power is cash–money is real again (instead of an idea or a piece of plastic). When it’s gone, it’s gone, & there’s nothing to be done about it (except go earn some more!).
For years I never carried around so much as a penny. I paid for everything with either a debit or credit card. I was afraid of losing money & it always seemed like a hassle. But this month things are really going to change.
This month marks the first month of using all cash (or at least where it’s accepted). Due to a few kinks to work out in receiving our military pay (which I think is finally worked out), we’ve only been doing a halfsie approach the past few months. So, I’m excited to see how this will influence my actually purchases. I’m realizing the power or cash–the reality it brings into my existence. The reminder that it’s much easier to figure out ways to stretch & conserve that dollar, than it is to seek for ways to earn more dollars.
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Do you use cash for any of your purchases?
Do you notice a difference in spending when you use cash versus a debit card &/or versus a credit card?
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