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Off The Credit Card And Benefiting

Credit Card Usage On HoldNot long ago, I wrote a blog post on why I was putting my credit card aside for a while and starting to use cash. Well, I am about 2 weeks into my experiment and am blown away at the benefits I am experiencing as a result. The biggest lesson I have learned in the last 2 weeks is that credit cards really do distort one's sense of spending. For the previous months, I was using only the card and found myself often feeling that I was spending too much money. Now after 2 weeks of using cash, that feeling has gone away.

By paying for items with cash, my sense of spending has been restored and when I buy things, I really have the feeling of spending. This is important because when using the card, I remember the thinking "I'll just pay for it later", whereas with cash the thinking is "do I really need to buy this? If so, is there a better price available?". I feel that having a credit card encourages more thoughtless and frivolous spending. Although I don't plan on using only cash forever, my next strategy is to use a 50/50 blend of card and cash spending to see if that is the ideal spending strategy. Keep checking the site for my report. How do you feel about spending only with cash? Share your thoughts below!


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