Trying something new....
So, I have previously posted about how strict Ethan and I are with our money and our budget since it is pretty important to us. We always charged everything to a credit card (groceries, bills, etc) and then paid the balance off in full. However, I noticed that sometimes we purchased things we didn't really need and wondered if it was because of the convienence of swiping a credit card instead of paying with actual cash. I also decided to clip coupons for things that we do buy from time to time and keep them in a filing folder to take with us when we had to buy said items. We also decided to shop at an international farmer's market nearby for produce, and it has literally cut our produce expenses by more than half. Interestingly enough, the farmer's market doesn't take credit cards....only cash! We have also applied this to shopping for clothing, etc.
So, we decided to find out. And the answer is unequivocally yes: we did buy things we wouldn't have bought when using a credit card to buy groceries, etc. Shopping at the farmer's market has also saved us hundreds of dollars already in the few months that we have been shopping there for produce and meat/cheese items. The coupons really haven't saved us that much money, but every penny counts, especially in times like these when the best thing to do is shore up your savings as much as you possibly can. I know you can really make coupons work for you by shopping when things are already on sale and on double/triple coupon days, etc but to be honest: I don't have the time right now to devote to that...maybe when I am a full time mom! As for shopping for clothing...it's amazing how you decide you don't really need anything when you don't have a credit card to swipe.... you don't want your little stash of cash to dwindle, and you find a way to make your current closet contents work for you.
We are now on a cash only kick and we're loving it. It is a little inconvienent sometimes to pay ahead of time at the gas station, but it is worth it. The only things we don't pay for with cash are our automated bills which are charged to our credit card each month (cell phone, cable/Internet, automobile insurance, etc.) It is pretty awesome to know exacly how much the credit card balance will be at the end of each month. It is also amazing how much money we have saved in the process. We said we'd do this for six months but I'm pretty sure we'll be doing it for the forseeable future because of all the benefits we have reaped. The only things we will buy with credit cards are major purchases and travel-related items (airfare, rental cars, etc) for the consumer protection benefits.
So....if you're trying to find a way to save money, try this option. I think you'll be amazed by what you discover!