Do you want to simplify your personal finances and stop spending more than you make each month. Have you consider going to a cash only financial lifestyle? We have all heard the term Cash is King. Well its true but not only is cash king. Its also simple. Using cash can help you simplify your personal finances and help you live a debt free financial life.
Here are this week’s simple finance tip to help you simplify your personal finance by using cash:
No monthly bills – if you pay with cash there will be no bills to pay at the end of the month. You pay for it and you are done.
Use it up no more to spend – Once you run out of cash there is no more to use. So you can not buy something if you do not have the money. It helps eliminate buying things that you really don’t need. Because you know your cash is limited.
No additional work to do – using cash you do not have to remember to pay the bill at the end of the month because there is no bill to pay. You do not have to set up auto pay. You do not have to mail a bill. No spreadsheet to track of your payment schedule.
No additional cost when you use cash – You will not have any interest to pay if you use cash. You do not have to pay for stamps or envelopes. Depending on what you purchase you may receive a discount by using cash.
Look to see how often you use cash instead of credit. If you see yourself using credit instead of cash consider not using credit for several weeks. This will probably help you manage you finances since you know you can only spend what you have available.