Day - 9 - Spend Only Cash

Today's task is simple but not easy.

Welcome to Day 9 of the Win with Money Challenge.

Just spend cash for all your purchases the whole day! 

No debit cards, No credit cards. Only cash.

only cash - cage

How does this help?

Before 20-25 years, there was some discomfort associated with handling cash. You could only spend as much as you carried, and then you had to go to the bank to get some more. 

With the advent of debit/credit cards, we have money at our disposal, and we don't see it physically leaving our pockets. 

The digital transformation in the last few years has made it possible to manage without carrying cash. 

The whole payment process has become so easy and seamless that we actually feel happy while paying.

We only realize how much we spent when we sit down to take stock.

BNPL, Credit/ Debit cards also provide a feeling of having more money than we actually have, so we tend to spend more.

The idea of a cash-only challenge is to reintroduce awareness and some discomfort while making payments. The more discomfort, the lesser the number of payments.

Spending Awareness - diffrent mediums

The Next Level. 

To make things more challenging, withdraw a particular amount from the ATM(100/200/500) before you begin the challenge. Pay for all purchases in cash and try to have some money surplus at the end of 24 hours.

You can continue this challenge for a day, a week, or even longer.

If you continue this challenge for longer, you can pay all your fixed expenses, like rent, and school fees, through the bank or via cards.

But for all variable expenses and daily purchases, try to use cash. 

  • Coffee shop? Use cash. 
  • Groceries? Use cash. 
  • Eating out? Use cash. 
  • Movies, entertainment, and other expenses? Use cash. 

Using cash will make you more mindful of your spending, and it is more likely that you will spend lesser as a result.

Spending Awareness

So start now and for at least 24 hours spend only cash.

Please share your experience on our Facebook group.

It would be great if you posted a picture of you spending cash on social media with #mytwofils #30DayWinWithMoney.

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