2010-04-26
Could you live without plastic for a week? I mean, could you
completely, cold turkey, give up the credit and debit cards in your
day-to-day spending? Would you perish, or could you find a way to
survive?
As scary as that thought might be, I have no doubt that you would
survive. More than that, I am nearly certain you would be better for
having done so.
To that end, I want to invite you to participate in the first ever
"Everyday Cheapskate All-Cash Challenge" during the week of May 4
through May 10.
The challenge's rules are simple: For one full week, spend only cash
for any and all local spending. This includes gasoline, groceries,
eating out, kids' expenses and so forth. (This does not include paying
your mortgage, auto payments, bill payments, purchases you make long
distance or online, or ATM withdrawals.)
Sounds simple enough, right? Great. Prove to yourself that you are
not a slave to plastic by going to my blog, at
http://www.MoneyRulesDebtStinks.com, and signing up as an All-Cash
Challenge participant. It's easy. Simply use the comments feature in the
"All-Cash Challenge" post to make your pledge. Then come back every day
to log your progress, experiences and what you're learning about
yourself.
I anticipate that our spending is going to plummet during Challenge
Week. That's because spending cash is more real, intentional and in the
moment.
Here are a few tips to help you make the most of the challenge:
1) Anticipate. Look at the calendar. What expenses will you have
during the week of May 4 through May 10? Will you be eating out?
Stopping for coffee on the way to work? How about gasoline and
groceries? Place a dollar figure on what your day-to-day needs will be
for the week.
2) Get the cash. You know what you'll need, so make sure you have
that amount of money in cash prior to May 4. I suggest you get it in
small denominations, which will make the next step easier.
3) Get envelopes. Yes, this is very elementary, but just go with me.
Label one envelope for each of the needs you anticipated in Step 2, and
write the amount of money you are estimating for that expense. Keep it
simple.
4) Divvy up the cash. Place the correct amount of cash into each of
the envelopes. Preferably, you want to carry these envelopes with you so
you have the cash handy when you need it.
5) Separate yourself. On May 3, you separate yourself from your
plastic. All of it. Put the credit and debit cards into a safe place
that is not in your wallet or handbag.
That's it, just five simple steps to prepare for this event.
I can't wait to learn that you will be participating in the All-Cash
Challenge. It's going to be great!
Mary Hunt is the founder of www.DebtProofLiving.com and author of 18
books, including her latest, "Can I Pay My Credit Card Bill With a
Credit Card?" You can e-mail her at mary@everydaycheapskate.com, or
write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. To
find out more about Mary Hunt and read her past columns, please visit
the Creators Syndicate Web page at www.creators.com.
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