Happy Thursday and THANK YOU for checking back in with my blog!
Today’s update is gonna be Quick and Dirty! No fancy pics or flowery descriptions. I want to switch up the focus for this one.
Usually I’m expressing the “Why’s” of the journey to debt freedom. Usually we’ll have examples of the reasons to, and feelings obtained by bringing your finances under your control, instead of being under theirs.
Today, I’ve got a quickie challenge for you. This is one small step in the right direction. I’m sure that anyone reading this, can incorporate this one little adjustment into their habits.
Swap A Swipe! There are purchases you’re making on a daily or weekly basis that are just part of the routine. Is it coffee and a donut on the way to work? Or maybe grabbing lunch out with friends on a Friday? How about Happy Hour Drink at a certain Drive-In? Probably the biggest weekly purchase for most families would be groceries. Do you use plastic to make these purchases? If it is debit or credit, studies have shown that we have a different emotional response when we swipe a piece of plastic vs. handing over cold hard cash!
So, the challenge is this. Think about your “normal” expenditure for one of these weekly purchases. Take out that same amount in cash and put it in an envelope in your car, purse or wallet and label it coffee, lunch, Sonic, groceries, you get the point.
Then, leave your plastic in the car or at home when it is time to make that purchase.
Whip out your envelope. Hand those green bills over. See if it feels any different.
My guarantee is this. If you create this envelope, promise yourself you’ll only spend what is in it for that purchase, and follow through, it will be impossible to overspend. Now, we didn’t change anything about your buying habit, except the method of payment. I know that this one small step is something we can all incorporate into our day-to-day life.
I use envelopes all the time and love it. My clients begin to use them and feel power over their money instead of it having power over them. Give it a shot, what have you got to lose??
Post your ideas here on the comments page or on the True North FFC Facebook Page. I would love to hear what you decide to use cash to buy instead of the card.
“Children do what feels good. Adults devise a plan and stick to it!” – Dave Ramsey
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