The Cash Experiment, my version.

One of my Big Three is Budgeting.  Maybe I should have termed it saving since that is the main goal, but I guess they do go hand in hand.  I’ve decided to come up with a plan to make this happen.  I can easily say I want to save money, but unless I really make a step by step plan, all I am doing is saying it.

This is my plan, at least for now.  As with anything, there will be adjustments I will need to make along the way.

Part 1:  The Accounts

These are four things that I feel are important for me to do at this point.

1. No more pulling money out of savings account (1) to beef up the checking account. 
2. Put a certain amount* in to savings account (2). 
3. Build a ‘cushion’* in my checking account. 
4. Build savings account (1) up to a set amount*.  Once I get to that amount I will start putting the ‘extra money’ into savings account (2).

* I have numerical amounts written down in my notes, but I decided to keep them personal.

Savings account (1) is for extra money if/when I need to make big purchases. If I had this money in my checking account, I would want to spend it.  With this account the money falls under the “if I don’t see it, it isn’t there” thing.

Savings account (2) is money that I won’t currently allow myself to touch at all, unless I have a damn good reason.  This is money that I know is there, but pretend it doesn’t exist.

Part 2:  The Cash Experiment

Has anyone else read about the cash only envelope system and thought, yeah that sounds great, in theory, but would I really do that?  That is how I am feeling.  I think it is the dividing it all out that just throws me off.  It just seems like a lot of guessing and a lot of work.  I know me I’d get lazy and not do it.  How horrible is it for me to say that?  I’m just trying to be realistic and honest with myself.

Now don’t get me wrong, I understand the cash only envelope system works for many people out there.  I’m just not a one size fits all kind of girl.  I love the idea of using only cash.  I know that as long as I can keep my debit card in my wallet when I run out of cash it will help me spend less money.  I just don’t love the putting it into a dozen envelopes.

Dividing the money:

- Bills will be paid with checks. 

- Gas for my car will be paid for the debit card.

- Set amount of cash for ‘spending’ money.

- Any money that is after the first three will go into the savings/checking accounts as listed out in Part 1.

Calling the cash spending money is a little misleading, but I’m not sure how else to word it right now.  The cash is for anything outside of my bills/gas that I buy.  It really doesn’t matter what I call it, as long as it is a limited amount and when I spend it I’m done. 

The cash will be in just one singular envelope, called my wallet.  HaHa!

Part 3:  Buying/Spending Less

1. I am putting myself on a clothes buying hold for the moment.  The only items not including will be socks and unmentionables, if needed.
2. Anything I buy for the house must be something that I LOVE and have a home for.  No random buying some thing just because it’s cute.
3. Cut back Walmart trips to twice a month (every two weeks), unless it can’t be avoided.
4. Shop with coupons for healthy/beauty/cleaning items and for food items when it really is a deal.
5. Not carry money to work, so I don’t give up to getting fast food at often.

I’m sure I’ll think of other ways to spend less money or have to make adjustments along the way.  This is just the start of my Cash Experiment and my attempt to save more money.

Disclaimer:  As I said I’m not a one size fits all kind of person and I fully believe that everyone has to do what works for them.  The above is my way of trying to find what will work for me.

I work both a full and part time job.  I am very fortunate not to have any past debts that I have to pay off.  The only payment I have is for my car and I am lucky to have very few monthly bills.  I am also only accountable for myself.  I do not kids or a husband that I have to factor into the money equation.  This changes my situation considerably when compared to others. 

Introducing my Big Three!

First a quick recap and the plan for tonight...

Monday Night’s To Do List was:

Work through my daily checklist.

  -- I did 5.5 of the 6 items on my daily list.  While not perfect, it is much better than the one item I was still doing actually daily.

Do my veggie prep on the stuff I bought Saturday.

 -- Veggies and fruits got prepped last night.

Do any additional food prep to help me stick to my menu plan.

 -- Prepped my lunch for today, as well as precooked veggies for Wednesday’s lunch.  I'll have some more to do later in the week, but this will get me started.

Give the rest of the dining room furniture a good cleaning.

  -- Didn’t do.

Along with the items above that I did do, I also folded two loads of towels.  Both were washed Sunday evening, though one load still needed to go through the drier when I went to bed that night.

How boring was that for others to read?  But I'm posting it anyway, because it helps me to see it in writing, what I did and what I didn't do.

Tonight’s To Do List is:

Really clean off the kitchen bar (which was that .5 item) as well as follow through with the other items on my daily checklist.

Do some of the things on the weekly check list, like empty all the little trash cans and sweep the floors.

Dust the dining room furniture, which is now in the room!

Wash dish towels and dust rags, if I get the washing machine leveled.

As always the list could keep going on and on, but I’m going to just stick with those things.  If one item doesn’t get done I will move it to another day.  If more than one item doesn’t get done then I didn't do what I needed to be doing.  If I do happen to get all four of them done, then I can always add to the list as needed.

And now, Introducing my Big Three, atleast the name for them that is, since I really introduced them yesterday. 

From this point forward I am going to start referring to the things that I mentioned before as my Big Three.  At this moment, daily/weekly (cleaning) routines, weight loss and saving/spending are the biggest things that I am focusing on.  Obviously there are many other things going on in my life, such as all the painting and redecorating, but that’s more cosmetic, and the Big Three are deeper issues I need to deal with.  I’m working on finding balance in my life, to get what I need done and to keep doing things that help me move forward. 

My current plan of action is to really work on doing my daily/weekly routines as I currently have them listed out for the rest of the week.  I will need to add to them, especially the weekly section, but first I need get into the habit of doing the main stuff every day.

While I am focusing on those I will work out how I want to attack the food/weight loss part of my Big Three so that by next Sunday I can start implementing those things.  It will just come down to telling my self no and making my self do the things I know I need to do.

By the following week I would like to have some idea how I will be tackling my spending/saving.  I know there will be an adjustment period, trying to figure it all out, but I can at least make postive moves towards getting started.

I’ve got to change things.  No, let me rephrase that, I am going to change things, starting now.