Comments on: Proof That Going “Cash Only” Works

By: Most Useful Articles in Personal Finance | Milk Your Money

Most Useful Articles in Personal Finance | Milk Your Money — Fri, 10 Oct 2008 03:55:57 +0000

[...] Prime Time Money: Proof that Going “Cash Only” Works [...]

By: Annie G

Annie G — Sun, 07 Sep 2008 19:34:52 +0000

I think tracking spending was the real money saver here rather than using cash.
We make hundreds of dollars a year from credit card rewards and our life is so much easier than cash would be! Of course one has to be disciplined, track all spending, plan ahead, use a budget, and pay off credit cards in full every month. (Or be like my teen who pays off the entire balance every Sunday … it’s hard to overspend when you know you will be “writing” an electronic check each week.)

By: No Debt Plan

No Debt Plan — Mon, 01 Sep 2008 04:45:13 +0000

For me I think this proves less that going cash only works (it obviously does) and more that this lady has no control over her spending.

Imagine she carried around her full month’s budget in her purse. She’d have money to burn then. Would she stick to her budget then? I doubt it.

By: Steward @ My Family's Money

Steward @ My Family's Money — Fri, 29 Aug 2008 19:17:55 +0000

I think that it is funny that:

“One of the most noticeable downsides the Farhats noticed was how using cash only slowed down their fast-paced lives.”

There are credit card commercials out there that specifically attack the “slower life” by making it look silly wasteful. Marketing can be really sneaky if you ask me.

By: Lauren @ LifeStyler

Lauren @ LifeStyler — Fri, 29 Aug 2008 14:21:04 +0000

Also – @ DoctorS: When I switched to a cash-only system, I was in pretty serious credit card debt. I’ve been able to eliminate almost all of my debt (including student loans) in the past two years. I’ll be completely debt free at the end of November. It’s made me so much more aware of my finances and the money I used to spend on minute crap goes towards debt repayment now.

By: Lauren @ LifeStyler

Lauren @ LifeStyler — Fri, 29 Aug 2008 14:18:39 +0000

I switched to a cash-base system about two years ago and it’s made all the difference in the world. There’s just something about seeing the money actually disappear from your wallet that makes you that much more aware of how much and where you spend your money.

I would encourage anyone trying to get their spending on track to go “cash-only” for at least a few months.

By: It’s Been a Remarkable Week for BFN : BorrowFromNone.com

It’s Been a Remarkable Week for BFN : BorrowFromNone.com — Fri, 29 Aug 2008 11:34:13 +0000

[...] are bandied about, but people are still skeptical. Here’s a reference to a news story about a family that tried going cash only for a month . The results actually match up well with the studies I’ve heard about how people spend [...]

By: Scott @ The Passive Dad

Scott @ The Passive Dad — Thu, 28 Aug 2008 06:24:52 +0000

Love the video! It is so amazing how much we can change our habits by using cash. I really enjoyed how is slowed down the lifestyle. It would be hard for me, but the savings could be huge.

By: doctorS

doctorS — Thu, 28 Aug 2008 03:00:19 +0000

I am going to have to give this a try. Once I clean off the CC debt, who knows when that will be! But it makes sense because we are so much less inclined to spend cash as opposed to swiping that card. Great post!

By: Proof That Going “Cash Only” Works : businessuu

Proof That Going “Cash Only” Works : businessuu — Thu, 28 Aug 2008 01:45:23 +0000

[...] Original post by PT [...]