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Cash Only

April was a little too spendy for my liking (two impulse shops + one trip to the Capital + one trip to have my snow tires removed + Bean's fourth birthday = $500) so for May I have switched to cash only. I withdrew $400 cash ($200 for food & household, $100 for car-gas, $100 spending money) and divided it into a couple of old spagetti sauce jars.

So far, I hate this system. I am just not used to cash. I like cards.

I don't know if I'll get used to it. I'm going to try my hardest, because I can't rely on the security of my line of credit anymore, since I transferred the balance of my debt onto a low-interest master card (0.99% for ten months). Previously I was depositing my monthly paycheque into the LOC account and removing a weekly amount for expenses (usually $100 a week or $200 when car insurance was due). This system seemed to work really well for me: I was paying the balance down and feeling secure about access to my funds.

Now that my debt is sitting in a credit card account again, I have to be more careful. If I pay too much into it, I won't have enough to get through the month. If I don't pay enough, the balance will not get paid down. My goal is to have the balance of the credit card down to $5000 in November, when the interest rate goes up to 1000% and I'll transfer it all back to my LOC (currently the rate is 5.25%).

Which means I have to come up with $500 a month .... oh dear.

Seriously, Karissa


  1. You've been on the jars a couple weeks now. Are you liking them any better?


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