Last Monday's post described how I ROCKED my finances the previous weekend. The weekend is where the bulk of our entertainment spending occurs, thus it's very important that my wife and I's communication is at it's best in order to stay on budget.
The more I thought about it, that concept seemed like a great recurring post to have to help me stay accountable for our weekend spending. So, here we go with installment #2 of How I ROCKED My Finances Last Weekend:
Straight Cash, Homey
If you browse the personal finance blogs with any regularity, you've heard the advice, "Pay with cash" more times than you can count. I've never done it. My debit card had hypnotized me into thinking that using a debit card is the same as paying cash. The logic my debit card (or at least the voice in my head that I give to my debit card) throws at me is that purchases paid with a debit card come right out of my checking account, so when the checkbook is reconciled I'm forced to deal with how much was spent. Which is true, but the point is that too often I have the "I didn't think our spending would add up to be that much!" moment.
So, this weekend my wife and I actually tried it paying for everything with cash. I withdrew our budgeted weekend entertainment money, and used cash for every single purchase.
It worked spectacularly.
We talked several times during the weekend about how much things would cost and made decisions based upon cash in hand. It felt so good to communicate openly, honestly, and frequently about our finances.
BTW, leave a comment if you can identify the origin of the subtitle. Hint: I'm from Minnesota, and I'm a HUGE Vikings fan. First person to comment with the right answer will be my favorite person for the entire day.
Half Of Fridays
One of the weekend's expenses was a budgeted trip to the salon for my wife. Every Friday, a local radio station has a "Half off Friday" sale for gift certificates to a local business. A few weeks ago the certificates were for my wife's favorite salon. We were able to snag two $50 certificates.. So, not only did she have $100 worth of salon credit she could use that was already paid for (and thus didn't have to come out of this weekend's budget), but we only paid half price for them!
The more I thought about it, that concept seemed like a great recurring post to have to help me stay accountable for our weekend spending. So, here we go with installment #2 of How I ROCKED My Finances Last Weekend:
Straight Cash, Homey
If you browse the personal finance blogs with any regularity, you've heard the advice, "Pay with cash" more times than you can count. I've never done it. My debit card had hypnotized me into thinking that using a debit card is the same as paying cash. The logic my debit card (or at least the voice in my head that I give to my debit card) throws at me is that purchases paid with a debit card come right out of my checking account, so when the checkbook is reconciled I'm forced to deal with how much was spent. Which is true, but the point is that too often I have the "I didn't think our spending would add up to be that much!" moment.
So, this weekend my wife and I actually tried it paying for everything with cash. I withdrew our budgeted weekend entertainment money, and used cash for every single purchase.
It worked spectacularly.
We talked several times during the weekend about how much things would cost and made decisions based upon cash in hand. It felt so good to communicate openly, honestly, and frequently about our finances.
BTW, leave a comment if you can identify the origin of the subtitle. Hint: I'm from Minnesota, and I'm a HUGE Vikings fan. First person to comment with the right answer will be my favorite person for the entire day.
Half Of Fridays
One of the weekend's expenses was a budgeted trip to the salon for my wife. Every Friday, a local radio station has a "Half off Friday" sale for gift certificates to a local business. A few weeks ago the certificates were for my wife's favorite salon. We were able to snag two $50 certificates.. So, not only did she have $100 worth of salon credit she could use that was already paid for (and thus didn't have to come out of this weekend's budget), but we only paid half price for them!
Tori Goes Shopping
The award of the weekend for completely ROCKING our finances has to go to my 9 year old daughter, Tori. Last night, her friend down the street asked if she wanted to go with her family to the mall. There was a store that was putting their summer clothes on super clearance, and her family was going to see what kind of deals they could find.
Due to the success of our cash only weekend, we had $20 left from the budgeted weekend entertainment money. I gave it to Tori, and off to the mall she went. She returned with the clothes pictured. The prices on the tags added up to $69.75.
She paid $19.46.
The award of the weekend for completely ROCKING our finances has to go to my 9 year old daughter, Tori. Last night, her friend down the street asked if she wanted to go with her family to the mall. There was a store that was putting their summer clothes on super clearance, and her family was going to see what kind of deals they could find.
Due to the success of our cash only weekend, we had $20 left from the budgeted weekend entertainment money. I gave it to Tori, and off to the mall she went. She returned with the clothes pictured. The prices on the tags added up to $69.75.
She paid $19.46.
Then, they went to a furniture store because her friend's family is the market for some new furniture. Apparently the store was having an open house, and was giving away Christmas ornaments. My daughter came home with with one of them and declared she had gotten our family's ornament for this year - we buy one ornament every year that has special meaning with respect to some event for that year.
A family working their way out of debt getting their traditional yearly ornament for FREE at a furniture store open house.
Appropriate, don't you think?
A family working their way out of debt getting their traditional yearly ornament for FREE at a furniture store open house.
Appropriate, don't you think?
