In a article I read recently by Dave Ramsey (creator of Financial Peace University, Total Money Makeover and financial expert), he noted that in a study of credit card ue at McDonald's (yes, McDonald's), people spent 47% more when using credit instead of cash! "Oh yeah, I'll have off the dollar menu... oh wait! I have my credit card -- supersize everything!!!! (including my debt) For further information, please go to his website at www.daveramsey.com.
I'm the first one to admit that it is waaaaaay easier to overspend when I am zipping that budget-bustin' piece of plastic through that little magic machine, whether I'm practicing shoe therapy, clothes therapy, book therapy, any other kind of retail therapy, or just at the grocery store. But put a real-live $20 bill in my hand, with the knowledge that when that's gone, therapy is over, well, then I am the mindful model of frugality.
So what's today's challenge? Take a deep breath, figure out how much spending you'll be doing this weekend, go to the bank and get that amount of cash, and then step awaaaayyyyyy from the debit and credit cards this weekend and GO GREEN! Only use cash! I know, you may have some withdrawl symptoms (hands shaking as you put an item back on the shelf, inability to let go of the money and getting into a tug-of-war with the clerk at the counter, depression and sudden burts of tears when you must walk out of the store empty-handed, just to name a few). It's not pretty nor easy, but it can be done, I promise! Been there, done that, DIDN'T buy the tee-shirt!
So go for it, be radically resourceful, rebel with a dollar left over, and leave those cards at home. Please comment and let me know how it went for you!
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