I spent $470 in my first week of giving up credit cards, putting me on track to blow up my budget this month. Part of that was due to a pricey snowboarding trip, but a lot of it was because I had a ton of cash in my pocket. When I feel flush, I buy stuff I would not normally splurge for (coffee drinks, fancy beef jerky, drinks for others, etc).
To reverse my spendy trend, I decided to carefully plan my errands and grocery trip yesterday so I would only have $5 extra with me. More often than not, if I always have an emergency $20 bill on me, I’m going to spend it. I estimated the cost of my errands ($5 – shoe repair guy; $25 – groceries; $5 – vitamins) and put $40 in my wallet.
The shoe repair bill was actually $7, raising my awareness of my remaining dollars. My first grocery stop added up to $11.87, an insane amount for three items (hummus, cheese, and salsa). I have a tasty hummus recipe and am debating making my own.
When I arrived at the second grocery store I was hyper aware of how much money I had left over – $21.13. Having a finite amount of dollars influenced what I purchased. I bought super cheap in-season strawberries for $.99 instead of bananas, and passed on sliced lunch meat so I could buy chicken thighs and pork chops, the two most expensive items on my list.
As I put each item into my cart, I wrote down its cost. When I felt I was approaching my dollar limit, I added everything up, including tax. Having to pay close attention to – no, being controlled by my limited funds – was painful. With a credit card, I do not limit myself when it comes to food. I aim to spend about $27 a week on groceries, but if a staple is on sale or I see a good deal, I do not hesitate to overspend. With cash, I don’t have that option.
By the time I made it to the drugstore to buy vitamins, I had a little over $6 left. I could pay for the vitamins using a $4 off coupon and the spare coins in my wallet, but I walked out of the store emptyhanded. It didn’t feel right to go home penniless.
April 8th, 2010 at 12:40 pm
I always carry an emergency $20 hidden in my wallet but that’s what it’s for — emergencies.
You were only $2.00 over what you had anticipated, you should have purchased the vitamins.
April 8th, 2010 at 2:10 pm
I agree with Linda, you should have purchased the vitamins, especially since you had a coupon. Also, it’s penny-wise but pound-foolish to pass up sales on non-perishables just to pay full-price later.
I think it’s great to use cash to be more aware about spending. However, it’s not worth tying yourself up in knots to create an artificially frugal model of your life.
April 8th, 2010 at 4:31 pm
Packaged foods (sliced meats, hummus, etc.) are rather expensive to buy on a regular basis. It’s much cheaper to buy canned garbanzo beans and make your own hummus… just add a bit of garlic, cumin and good olive oil to make the consistency you like. I also like to add fresh parsley (chopped leafy parts). I agree with both Linda and Rabbi Wendy about buying the vitamins, as well as non-perishables (that you use regularly) when on sale. And always estimate your costs for the day before leaving home, as that will help with your spending control. I estimate costs by rounding up to the nearest even $ amount, and usually have more than enough money. I also keep a running estimate total in my head when doing the shopping to be sure I come in under expected total.
April 8th, 2010 at 4:41 pm
You are wise to forget the vitamins. a good diet is healthier, better for you and cheaper. Vitamins are not needed unless you are pregnant or are sick, it’s just the pharms taking your $$.
April 9th, 2010 at 5:14 am
I did that for 3 weeks, only using cash, saved a ‘bundle’. maybe you could try an contest for us, to see how your readers do.
April 9th, 2010 at 6:00 am
I’m on the Dave Ramsey plan of budgeting my whole weekly paycheck and carrying cash for such things like groceries, gas and whatever else I have going on for the week. I’m able to save average of $200/week in my savings account by allowing myself a weekly grocery budget. It’s hard but in the long run the results are so worth it!! I’d rather have a fat bank account then a fat belly!!
April 11th, 2010 at 9:27 am
I have learned the hard way that spending money on GOOD supplements is a true cost saver. If your immune system is low and you get sick, then you are going to pay WAY more to get rid of the sickness.
However, I agree that it was probably worth skipping out on buying vits that cost less than $10. Your body probably wouldn’t have absorbed them anyway.
Next time, take the money and invest it in organic raw greens (spinach, sprouts, etc.)
April 29th, 2010 at 10:58 am
[...] was to cover a $533 emergency mattress purchase. I’m telling you it really was an emergency! Grocery shopping takes longer because with a finite supply of cash in my pocket I add up the cost of each item I put into my cart [...]