Freaking dineros!

I am not a cash person.

If I have cash in my wallet, they disappear within days.

Which is awfully strange because having no life, I hardly step out of my dungeon… so perhaps my family steals from me (kidding).

It seems there are two types of people in this situation. Those that spend easily when they use cash, and those that spend easily when they use credit. I am the unfortunate former.

You would think that having cold hard cash will deter the unplanned Cap n’ Crunch buying, but alas… I am but a weak man. For whatever reason, cash-on-hand feels like spare change for me (I suppose it would be different if I carry hundred dollar bills).

On the other hand, having my credit cards with ludicrous credit limit in my wallet does not make me spend recklessly. I have friends that swipe away without a second thought — only to do the usual moaning and groaning at the end of the month — but when it comes to cash, they spend much more carefully.

My cash and credit mentality is most likely due to the fact that I got into debt via credit. Hopefully one day I can kick the habit and spend with much more discretion, regardless if the instrument is cash or whatever else.

Having said that, I suppose there’s really three types of people, the last one being those that can spend carefully regardless if it’s cash or credit.

I hate you people.

Tips on Spending Wisely with Credit Cards:

  • Carry only one card unless you are a master rewards card juggler.
  • Apply for online access and make a habit of checking balances regularly. This way you can see the full effect of your spending clearly.
  • If you have issues with spending, make yourself a credit card slip cover that can act as a reminder. Write the questions below for added emphasis.
  • Ask yourself these questions before using your credit card:
    • Do I really need this?
    • Can I afford this at the end of the month?
    • Will I be glad I bought this a year from now?

Tips on Spending Wisely with Cash:

  • Carry a bill amount that’s harder to break, such as $50. A helpful barrier to prevent you from spending on little things.
  • Set and carry only fixed dollar amount weekly and deposit any weekly excess in jar. When you need more, withdrawal only from cash jar. Deposit cash jar back into banking account after few months. Rinse and repeat.

Tips on cash above are comment suggestions in an old post from readers, Jack and Independent George (thanks guys).