The 30 day No Cash Challenge has been underway for a week now. I’ve put away my cash envelopes and traded them in for a credit card with cash back perks.
To be honest, it has been extremely difficult. I haven’t used credit cards in more than 7 (nearly 8) years. I have not enjoyed it. I feel like I am doing something wrong.
So far, it feels like I am not really paying for the things I buy. I am just going on this giant shopping spree. While I am not going crazy and just getting anything I want, I do feel like it is making me less concerned about what I spend.
I don’t think I’ve really overspent so far. Although I had to get a ring fixed and did not think twice about not having the money with me to do it, when I would normally move funds from that cash reserve into my account and then pay for it with my bank card. I know that may sound like it is “the same thing” (using debit vs. credit), but it isn’t. At least not to me.
You see, when I use my debit card for anything, I know I am paying for it right there. I know it was completely in the budget or the savings reserves. There is not worry that it is not 100% paid for the minute I swipe my card. However, when I use my credit card, I wonder what the bill will look like come the end of the month.
I look at these receipts for my normal purchases such as food and our weekly dinners out as a family. I look at the little things we buy on on Amazon (normally out of our online shopping budget) and wonder if I am on track for our spending.
Right now, I am not using an app to track what I spend. Sure, I could. However, I know the majority of people do NOT do this and the entire idea behind this challenge is for me to live like many do using credit. I am going to just shop for what we need.
If anyone were to look into my wallet right now, I have absolutely NO cash on me. Not even a single $1 bill. I think the worst part is when I have that small $5 purchase and I don’t even have the cash to cover it. Instead, even that goes onto my card.
Right now, I do not care for this. I want my cash back. I want to put the credit card away and just quit. However, I am NOT one to turn down a challenge. I am not the person who will give up.
I am pushing through and will do this. I’ve gotten through 7 full days of not using cash. I can do this for 23 more. I know I can.
So, have you yet joined the challenge? Are you trying to change the way you spend. That means, if you use cash, why not try using only plastic to shop and see if what challenges you face? How about those of you who use only credit, why not try a cash only budget.
So often, we are quick to judge how someone else lives be it a cash only or credit only lifestyle. Only when we try something new, even if it not the most comfortable, can we truly understand another person. We can’t judge them. We can’t even relate. Without first hand knowledge of how another lives his or her financial life, we really do not know the facts.
That is what I am doing here. I am trying to understand. I am going to see if the overspending myths are true. I am going to see if the perks can truly outweigh any potential overspending issues. Who knows, I may just be proven wrong. And you know what? I am perfectly fine with that.