Cachier or Cashier?

Cachier or Cashier?

How Paying In Cash Can Get You Out Of Debt

Hi, my names Tom, and I'm a spend-a-holic. At least I was until I found a system that refined my spending and saw me pay off my debts and start to save some real money. Let me tell you how it worked.

My fiance and I both worked, so we had two good full time incomes coming in and when we wanted to buy stuff we pretty much could. We both had student loans but didn't tend to worry about them much. When we bought our house that all started to change. The repayments were still quite manageable but we never seemed to be saving anything because we had this weekly payment to make.

We both sat down and worked out where our money needed to go ever week and how much we had coming in and found out that by simply not tracking our spending we were frittering away around $300 per week. Lunches, movies, mobile minutes...we had quite a list of things that we spent money on that we just didn't happen to. So we set a goal to save $100 every week. Out of two good incomes that should be quite easy. We transferred one hundred dollars out of the account and into our savings account every week, but found that we still spend much more than we should.

That's when we took our plastic out of the equation. You see it's two easy if you have a card to lose track of what you have spent. We would frequently spent our designated $100 saving money just because we forgot about a purchase...or said we forgot. The thing is we knew it was there, so it was kind of a safety net. Anyway, we took the cards out of the equation and each took one hundred dollars in cash out each Wednesday (pay day). We could spend our money on whatever we wanted, but when it was gone that was it. If we wanted a purchase that was larger than $100 we just had to save our pocket money until we could afford it. We both got quite good at saving for those items - new clothes or whatever.

The very easiest way to stick to a budget is to remove the method of breaking it. For us that was money cards. Once we started dealing in cash there was no way we could blow the budget. And the great bit was even as both our incomes increased we left our weekly spend the same(actually we have dropped it a little since then). So that meant we saved more money which can go towards paying off our loans and debts. The mortgage is the big one, and the terms of our mortgage only allowed one lump sump payment per year. Our cash system has actually been so well refined now that we can save just under one entire income and pay that lump some off ever year.

So if you are looking at debt relief - look at a budget that works for you, and then remove the ability to break it.

Tom refused to live in debt any longer and got to work increasing his income. You can too by visiting this website now.



Privacy Policy | Copyright/Trademark Notification