Hello Sophisticated Spenders!
Last week, the Weekly Financial Challenge was to use cash only.
I started my Sunday with $100 in cash and vowed to stop spending after the money was gone.
Did I pass or did I fail???
Here’s how each day went:
Sunday: Spent $2.50 on a newspaper. ($97.50 left)
Monday: Post office-$5.00. I mailed something at I sold on eBay. Happy Hour!!! Spent $15 on a chicken sandwich and 2 glasses of wine. Shopping! Bought a cute dress and a sports bra. Spent $20. ($57.50 left)
Tuesday: No spend day!
Wednesday: Spent $27 on wine for my aunt who is here from out of town. ($30.50 left)
Thursday: $15 was spent on groceries at Whole Foods. I spent my last $15 at happy hour (a friend paid for my meal, I was responsible for leaving the tip)! ($0.50 left)
Friday: No spend day!
Saturday: No spend day! ***Note***Had a late lunch with friends. I was totally ready to use the YOLO card (You Only Live Once) here and splurge on food and drinks at Uncle Julio’s. But then a friend paid the tab because it was my birthday!
I bet you’re wondering where I failed.
Well, I used my credit card 3 times which “didn’t count.”
1. Gas: I spent $65 on gas. I didn’t count gas because it is a regular budget line item. I can’t live without gas and I’m never frivolous with gas.
2. Medical: I spent $55 on copays and RX this week too. I participate in (FSAFEDS) which is a health savings account that will reimburse me for my medical expenses.
3. Party Boat: Ok, this is where I consider the failure. I’ll be going on a boat cruise in Georgetown on my birthday. So far there are roughly 25 people coming (YOU are invited too). So I had to book it as a whole and everyone is going to pay me back. And at $14 a ticket, it wasn’t cheap!
I will continue to use cash only for a week once or twice a month.
I loved this challenge because it forced me to cook and eat what was already in my fridge. Why buy groceries if I’m not going to eat them? I didn’t throw away any rotting food from my fridge this week.
This challenge also made me think twice about all of my purchases. I believe I saved myself from buying a bunch of crap that I really didn’t need.
Did you participate in the challenge with me?? What were your results?
The new Weekly Financial Challenge…
I will read 3 books!
I can loan this book to anyone of my choice for free. So please let me know if you’d like to read it too!
I’m not sure about the other books yet. I’m open for suggestions!