Going to Cash

R and I have decided to switch up our money plan a bit.

Up until now I've just told him how much I need each month and he transfers that amount into my checking account. That would be great if we were making beaucoup bucks and had more money than we could possibly spend. But alas, that is not the sitch. So it leaves a huuuuggge opportunity for living beyond our means. The other issue is that I was still overspending each month, leaving R wondering what the hell. I think it had to do with me designating an amount and not having a concrete amount.

So instead we have decided to live like we have a regular job that brings in a set amount. We'll leave the amount needed to cover the set bills in our checking account and transfer the rest into a different account. Each week we'll withdraw 1/4 of the leftover funds as discretionary expense money, i.e. gas, groceries, clothes, entertainment, etc. When the money for the week is gone-it's gone baby.

I realize this is hardly a novel idea, but it is new for us. I'm hoping it will help us prioritize and really choose how to spend our money. I'm also hoping it will teach my kids some money management skills. Money = cash, not a card that has an infinite supply of funds. And obviously I am hoping it will help us live within our means.

I'm actually excited. I think it could be a grand adventure to maximize our dollar!