I’ve written about using cash in the past, and most recently how I won’t be using it during the pandemic. However, I’ve changed my mind, and here’s why.
- It will lower my food bill. My food bill was reaching all-time highs — upwards of $800-900 a month. Not acceptable for 3 adults. Now that I’m shopping for food myself and use only cash, I will have a better chance of not overspending.
- It will help me lose weight. (I know this is a stretch) This goes with #1. There is an interesting phenomenon that has happened during this pandemic, Something called the Quarantine 10, 15 or 20. (I fall under the 10 range). We should be eating less, right? Instead, I am overindulging on food and it’s showing up on my waist. If I have a limited amount of cash, I’ll make sure I have enough of the right foods (i.e. fruits, vegetables, meat) before I pick up the Coke, Hershey Kisses, beer, wine, chips, pretzels… You get my drift.
- I don’t have to track it on my credit card. Although I get cash rewards with my Chase Blue card, I end up spending a bit more than I would normally. Although I’ll still use it, I will use it much less.
- It will delay gratification. I grapple with impulse purchases, especially online. If I use only cash, I won’t be able to indulge my impulse whims. Or, if I do, I know that it was budgeted for, and no guilt will be involved.
- It’ll keep me away from online spending. Let’s be honest. Online spending is so darn easy. Although it was necessary during the pandemic, stores have opened. Using cash will decrease my online spending by a lot. Just sayin… 😉
- Ultimately, I’ll have more money to save. Reaching my retirement savings goals sooner is the best reason of all. 🙂
Are you using cash?
JOURNEY TO RETIREMENT 