by Rene Syler (www.GoodEnoughMother.com)
This article originally appeared on Rene’s Good Enough Mother (GEM) site.
Those of you who follow me on Twitter or my Facebook page know I’ve taken the kids south for a little downtime. We have a place outside Charleston, so every chance we get we pile into the car and head down south for a little R & R. It’s a place we can go for a lot of fun and just a little money and in this day and age, that hard to beat!
I’ve always had something of a love-hate relationship with money, cemented when I hit my first speed bump in math back in the 6th grade. Now, nearly four decades later, it still haunts me; I can count on one hand the number of times I have successfully balanced a checkbook and I’m constantly pulling out my American Express card out when it really should stay nestled in my beat-up wallet.
So for this trip, Buff, in an effort to maintain some sort of family fiscal solvency, confiscated said card and in its place, gave me a small piece of paper that actually turned out to be quite empowering! I’d heard people use this term before and the word look vaguely familiar when I spied it at the top of the page. Perhaps you’ve heard of it before? It’s called a budget.
Now before you castigate me for not living within a budget, let me explain that I married a man a lot like my own father; Buff loves to cook and take care of the finances, so I never jumped in there because I didn’t have to. And I will concede that was my first mistake. Like dieting, it’s impossible to lose weight if you don’t know how many calories you’re taking in; you need to keep track. The same principles apply when living within a budget. Yes, I am aware this is budgeting 101 and that most people know this. Cut me some slack.
So we got to Charleston with money to spare in the gas, food and lodging budget, by using only cash or a debit card and I was feeling pretty proud of my efforts too. And then it happened. A day later, on a trip to the grocery store, I had my epiphany. This budget thing didn’t pen me in as much as it freed me because I knew what the boundaries were. And then it became a game; a challenge to see how far I could stay under budget while still buying the things I needed. Dare I say it? It was exhilarating! For once, I stuck to the list and as much as I hated it, I did the math, figuring out what to buy to get more for my money. Casey and I raced through the store, clutching the list and did not deviate once! I hope you understand what a monumental thing that was for me, whose favorite four-letter word is SALE!
When we checked out, I used a few coupons and the store’s loyalty rewards program and managed to save another six bucks. I was nearly walking on air as we wheeled our loot out to the car. Why? Because I came in 80 bucks under budget! No one is suffering, no one is going hungry, we still have money for recreational activities and everyone is happy, especially Buff. And me too, actually. I don’t feel pressure to buy stuff to make the kids or me, happy. And speaking of the kids, I’ve even told them, when they ask if they can do or have something this trip, that I need to check the budget because we might not be able to afford it. Guess what? No screaming, begging, pleading, just an acceptance that this is the way it’s going to be. I’m enjoying this so much, I’ve decided to try to do this in my regular life at home too.
So I had an idea. If you don’t already, why not try it with me for the rest of this week? Holster the credit cards and just pay cash or debit. Live off a list and within a budget and see how you feel. Let’s do this! Can you live on cash and not charge a single purchase to your credit card for the next few days?
Leave a comment here if you’re game, and then I’ll check in at the end of the weekend to see how you’ve done. Make sure to share any money saving tips you come across ““ and where you struggle!
Hey, if I can do, anyone can! So what do you say? Are you game for trying out our first Good Enough Mother experiment”...?
After two decades as a television news anchor, including 4 years on CBS’s The Early Show, Syler decided it was time for a change. Tired of reading from a teleprompter, René was determined to find her own voice and inspire women like herself ““ juggling busy lives, raising children and trying to live up to impossible parenting ideals. The result René’s missive on modern motherhood, Good Enough Mother: The Perfectly Imperfect Book of Parenting and its subsequent website www.goodenoughmother.com
Since me and hubby filed bankruptcy 3 years ago, we have been living on cash and debit. Boy, there are times that I wish I had a credit card, but I vowed to never own one again. Credit cards are not what did us in though, believe it or not, it was mostly medical bills and the lack of gaining additional income. It is not at all difficult and even though I still can’t budget (I am just so bad at it), we are managing and making it to the next pay check.
My husband and I attended Financial Peace University a few months ago and it was eye opening and life changing. We used to overdraft our account all the time and use credit cards when we “needed” something. Once we listened to Dave Ramsey’s classes, we made a vow to create a budget and stick to it. Haven’t used a credit card or overdrafted since. We actually have an emergency fund and paid off 3 of the cards in only 6 months. Having a plan for our money has been such a stress reliever! I encourage everyone to attend FPU and find out how God wants us to handle HIS money!
We’ve been using only cash and debit cards for awhile. We can’t afford to pay interest for items. We don’t like owing people who can take our things if ever we can’t pay.
It’s essential that we live within our means. Don’t get me wrong, we’re not that “good” on our own. What caused us to begin living differently was our daughter. She discovered a love of (and great aptitude for) music. She’s a child prodigy violinist. As her skill level improved over the years, this pursuit became (and still is) very expensive to maintain. This caused us to make some serious decisions about how to afford the lifestyle of a well-trained classical violinist. If we had not made changes, she would not be able to be competitive in her chosen field. We are compelled to leave an inheritance for our daughter. We can’t do that it we spend money on things we don’t really need. It’s a high goal for a black girl to pursue a career in classical violin. It would be an impossible goal if her mom and dad didn’t “downsize” our lives to be able to afford it. It would benefit us all to undertake financial discipline to fund our children’s dreams.
We’ve been using only cash and debit cards for awhile. We can’t afford to pay interest for items. We don’t like owing people who can take our things if ever we can’t pay.
It’s essential that we live within our means. Don’t get me wrong, we’re not that “good” on our own. What caused us to begin living differently was our daughter. She discovered a love of (and great aptitude for) music. She’s a child prodigy violinist. As her skill level improved over the years, this pursuit became (and still is) very expensive to maintain. This caused us to make some serious decisions about how to afford the lifestyle of a well-trained classical violinist. If we had not made changes, she would not be able to be competitive in her chosen field. We are compelled to leave an inheritance for our daughter. We can’t do that it we spend money on things we don’t really need. It’s a high goal for a black girl to pursue a career in classical violin. It would be an impossible goal if her mom and dad didn’t “downsize” our lives to be able to afford it. It would benefit us all to undertake financial discipline to fund our children’s dreams.
I’ve been strictly debit for a while, but I think it would be better/easier for me if I used cash only. I really need to get my finances/budget together but I keep procrastinating.
With the amount of students loan debt that I have -I refuse to also be in cc debt as well! I have 1 with a laughable limit to maintain credit and that is all….
I love this story because I CAN so relate. I ran up my credit card and was put in a position by the bank to either close the account or face an interest increase. Well my card balance nor my pockets could afford an interest increase. So I opted to close the account. Did I mention that was my “only” credit card! So I am making monthly payments but unable to use the card, which means guess what? Yes I had to pay cash or do without! Guess What again? I never missed a beat! I realize now I do not need credit to live. So after I pay this card off I will not be getting another! Thanks for this story it just lets me know there are others out there realizing credit and paying interest is not a good look unless your name is Mr. Bank of America (smile)!
Sincerely,
Utokia
http://www.shesgotflavor.com