Add to favoritesWelcome to #ThrowbackThursday! Every Thursday we’ll be celebrating the wisdom of our foremothers with some themed tips from the Great Depression era. Feel free to get in on the fun! Write your own Throwback Thursday tips on our Facebook wall, or tweet @CatchyFreebies with the hashtag #ThrowbackThursday. If we choose your tip for a feature, we’ll send you a sample from our stash!
This #ThrowbackThursday, we’re talking cash. When it comes to extraneous spending (i.e., you don’t need it but boy, do you want it!) we are big proponents of the cash-only wallet idea. If you only carry cash and designate your credit card(s) for emergencies only, you’ll cut way down on careless spending.
Here’s another old-fashioned money-saving idea: always save a dollar for every dollar you spend. Every time you whip out that wallet for non-necessary purchases such as new clothes or shoes, makeup, lattes, or toys, stop to think: do you have enough cash to buy it? No cheating with debit or credit!! Now, do you have enough to match that amount and put it away? Tuck that cash in a jar (or better yet, a new savings account) to save up for something big – think a family vacation, college courses, a new car – whatever you want!
This way, if you don’t have enough cash for double the purchase price, you automatically know you don’t have room in your budget for that cute bag or fancy new kitchen gizmo. This “cash-out, cash-in” method will force you to focus on your financial flux and be more accountable with your spending, whether or not you actually have a budget. It’s a no-nonsense, super simple way to prevent impulse buys and add to your savings!
What’s your favorite way to build up your savings? Leave us a comment on Facebook or send us your thoughts on Twitter @CatchyFreebies using the hashtag #ThrowbackThursday!
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