Use Cash Instead of Credit to Save Money
A penny saved is a penny earned, and a dollar unspent turns into hundreds really quickly. This is why carrying cash is so much better than using a debit or a credit card.
When we use a credit card or debit card, we don’t see the dollar that is being spent. We don’t feel the gritty paper in our fingers and don’t appreciate counting through a stack of ones, tens, or hundreds that we need in order to make a purchase. Having cash in your wallet creates a bond between you and your money.
1. Feeling the money in your hands and physically counting is the beginning of a sweet love affair.
Touching your money creates an emotional bond between you and your finances, something that has been completely lost in today’s world and has led to a lot of financial struggle. Without that bond, it is easy to discard money and throw it at frivolous things that you really don’t need.
2. You are more conscious of how much money you actually have.
This is because you can actually see how many bills are in your wallet. When you spend them, your wallet feels and looks thinner.
3. You will think twice about spending the cash because it feels oh-so-good to open your wallet and see money inside.
Everyone absolutely LOVES to open their wallet and see money. It’s harder to part with when you are physically handing over your hard-earned money.
4. You can see your funds depleting.
Twenty bucks here and there on a card will only register as twenty dollars spent a few times. You may look back on a day and say, “Oh I bought a few things, but they were cheap, only like twenty bucks each time.” However, if you are actually handing over twenties each time you go out to eat, or spend ten bucks on a latte and a scone, then you keep tally of what you’re really spending. Lattes can definitely add up and each is worth almost one-fifth of a twenty. Seeing a twenty being physically split is harder to handle than handing over a card for a ten-dollar purchase.
5. If you cannot afford something, you cannot have it.
This is the biggest problem with credit. People can have what they can’t afford and end up paying more for an item just for instant gratification.
6. When it’s gone, it’s gone. It’s that simple.
Having cash forces you to see what you actually have and you cannot overspend. In addition to not overspending, you create a sincere bond with your money and appreciate it more.
Swipes of a card go by so quickly that you forgo the separation anxiety felt when handing over a stack of bills in exchange for whatever you are buying. It may be inconvenient to go to the bank or ATM and pull money out. But it is a lot more inconvenient to be in debt.
