Tips and Tricks 1: Debit vs. Cash

The Issue
Debit cards are a great convenience and I have always loved that they are linked directly to your bank account and withdraw instantly. It's great that it is withdrawing from your bank account vs. being a charge for money you don't have on a credit card. The problem is I didn't seem to be able to track during the course of a week of two realistically what I was spending. I would forget earlier purchases and end up being shocked that I would go through $200-$300 in a week or two on unnecessary purchases.

One of the first changes that I have made is to use cash instead of the habit of using cards. As I am paid weekly, Michael and I both get a 'spending' allowance. This is discretionary money that we do not have to account for, but if we want something beyond our weekly spending we have to save for it. We both get $50/week. This has been great we have not overspent as when the cash is gone we can't buy anything more. In fact Michael has ended up saving $200.00 which will likely go towards golf this summer. Pretty fantastic for two people who would overspend every week and now we can keep it easily to $50.00 or less a week.

There is something about having cash instead of plastic, you are more conscience of your purchases, it makes you really think about whether you really need, want it that badly that you may not have any money leftover.