Comments on: Paying with Cash…Does it Save Money?

By: » >Money Hacks Carnival – The Print Media Edition | Saving to Invest

Sat, 19 Jun 2010 22:29:03 +0000

[...] The Happy Rock presents Paying with Cash…Does it Save Money? posted at The Happy Rock. It looks like it does. Overall though, I think I prefer the hybrid [...]

By: Does Carrying Big Bills Save You Money? | The Happy Rock

Does Carrying Big Bills Save You Money? | The Happy Rock — Wed, 08 Apr 2009 03:53:56 +0000

[...] It should, because this is the same logic behind the idea that using cash will save you money over using credit. [...]

By: Dave

Dave — Fri, 03 Apr 2009 18:56:22 +0000

There are certain things, like paying parking meters that require money. Beyond that, I prefer to pay with debit or credit so I can track my expenditures.

By: The “Paying Cash” Experience - 2 Months Later | The Happy Rock

The “Paying Cash” Experience - 2 Months Later | The Happy Rock — Tue, 25 Nov 2008 04:19:04 +0000

[...] of you may remember that at the end of August I decided that starting in September, I would start paying cash for certain items (groceries, household stuff, & [...]

By: Bob

Bob — Mon, 10 Nov 2008 23:52:53 +0000

I believe you will spend less when you’re spending cash instead of using credit cards because spending cash has the psychological effect of the reality that you are spending money. Credit cards make spending too easy because you don’t have to have the money (cash) in order to spend. I think using cash instead of credit cards is a good idea to help curb spending and save money.

Bob (Debt Free)

By: DD’s Monthly Expense Checkup - October 2008 | The Happy Rock

DD’s Monthly Expense Checkup - October 2008 | The Happy Rock — Fri, 07 Nov 2008 14:20:55 +0000

[...] but I have to say I love my new wallet. In other news…I have to say I don’t think paying cash has been saving me much money yet. At least not in October. I’ll probably dissect the [...]

By: Cashback Bonus = Christmas Budget | The Happy Rock

Cashback Bonus = Christmas Budget | The Happy Rock — Sat, 27 Sep 2008 21:01:05 +0000

[...] rewards from our credit cards. We both have a Discover Card and until we recently decided to start paying for a lot of items with cash, the cards were how we bought [...]

By: SmileyGirl

SmileyGirl — Mon, 22 Sep 2008 04:10:18 +0000

I’ve just started the Total Money Makeover also. We are finding that we save a bunch just with the budget. We use cash for our spending money (our allowance as we call it) and the debit card for everything else. We are using YNAB for the budget figures and download from our bank to keep track of everything. The budget alone is making us save money because we are seeing where we don’t have the money to do what we used to. Eating out has virtually been eliminated. And you think really hard before buying a latte when you have to hand it out of your own allowance – where you don’t get anymore until the next pay period. I used to buy an average of 5 coffees a week and I haven’t paid for one in a month. Can’t part with the green stuff. I like it in my wallet.

By: John (Debt Defier)

John (Debt Defier) — Wed, 10 Sep 2008 01:38:45 +0000

Thanks for the all comments, sorry it took me so long to respond. But I see that THe Happy Rock has gotten back to some of you already.

@ Sue – Thanks for the gift card idea, but I think I’ll stick to cash so I can have that mentality.

@ Andy – Thanks for including this as an editors pick.

@ Karla – I’m hoping that I don’t spend more with cash, but I could see how it could happen.

@ Clyde – That is exactly what I’m hoping for.

By: BTGNow.net

BTGNow.net — Sun, 07 Sep 2008 00:59:12 +0000

I understand on an academic and psychological level why insisting on cash works for most people, but I have found, in my own personal experience that I spend MORE when I have cash.

If I have $20 on me, I will find a way to spend at least some of it (usually on lunch, a real budget killer if you dine out freuqently enough).

Then they give you change. Then you can use a vending machine, or maybe you stick it in a corner of your purse, never to be seen again. Maybe you buy a two dollar pack of gum now that you don’t have to break a 20. And so on.

I refuse to carry cash, unless I know I will have a cash only expense (parking meters for instance). I usually also carry my credit card, but I have learned not to charge little purchases to it.

So I think it’s up to the person. Some people cannot handle credit, others, cash. You have to figure out what’s right for you.