I recently stumbled upon an article and video about a couple who went cash only for a month to see if they could curtail some of their spending (a method I’ve deployed in the past and blogged about here at Prime Time Money).
The video from the story is titled, “Paper or Plastic?” and the accompanying article is called, “Paper or Plastic? Family Saves With Cash.” The Farhat family, who is featured in the story, actually ended up spending 24% less using cash only than a normal month with credit and debit cards. From the story,
“One of the most noticeable downsides the Farhats noticed was how using cash only slowed down their fast-paced lives.”
Small price to pay for that much less spent every now and again I say. So there you have it: proof that Going Cash Only for a Week might just help you spend less.