Another benefit of the cash allowance

**Cricketlegs** · 08-08-2008, 02:52 PM

I have a monthly budget of $400 for dh and I for allowance. It comes to $50 a week for each of us.

Now dh uses his to eat lunch(he will eat leftovers if we have them) and to buy his snuff---can you say YUCK????!!

I tend to spend mine on the house or on my kids or I just save it. I have a cash box in my sewing room. We had a camping vacation with my last batch I had saved.

BUT there is an added bonus of cash allowances.

One is that when my dh gets home he drops his change on the nightstand table and he lets ME have it. It goes in my coin box.

I tend to empty my coin purse once a week into the coin box. When it is full(usually the end of the month) I cash it in. Then it goes in my cash box for whatever.

FREE MONEY!

When you use the debit you lose out on free money.

I never pay with change--I always pull a bill so when I buy I save or pay myself for that purchase.

Another thing is with cash, when it is gone , it is gone. It makes you think twice before you buy.

Allowances also keep the budget safe. No debiting yourself into the red. No writing down what is spent everyday--the allowance is already IN the budget.

Cricketlegs

**dcompton** · 08-08-2008, 03:02 PM

I agree with your last point very much. I used to track the "cash account" too, but it is a pain, and it somehow never balanced to the penny that made me nuts. In my interior universe the numbers MUST add up right. I finally decided the cash - I give myself a small amount each month -- was now officially "unmarked small bills." But I don't use enough to accrue the wonderful benefits of the change jar so many of you do.

**tkn4lif** · 08-08-2008, 04:16 PM

I totally agree. We are implementing this method beginning Monday. As an incentive the money that is left over can go to his four wheeler (ATV) fund.

**itsahumanzoo** · 08-08-2008, 04:36 PM

I just started doing it, and I think it's a great idea! I spent most of my $20 allowance to have a fun day with a friend and our sons, but DH still has his $20 in his wallet! I told him just to hold onto it and save it. He keeps trying to give it to me for grocery money since we are kind of in a hard place right now.

Anyway, I can definitely see the change jar growing, and I'm going to do this all the time from now on!

**JanieD** · 08-08-2008, 04:37 PM

Cash works better for me too! It's so much easier than remembering to write down every debit card purchase... statement comes surprise I spent more than I thought. I use to waste a lot of time writing down what I spent my cash on. Did it for a while to help budget for the month & avoid overspending. Now I use an envelope for receipts & if I need to know exact what I bought I can look through that month's envelope. I get under $200 a month for my spending money. Gas for my car comes out first (another advantage to high gas prices; keeps me from buying other stuff). Now, it's not worth the time to track $50-75 each month. Plus, with cash once its gone the spending stops! I do spend my change, but manage to save bills for other stuff sometimes (charity projects, clothes fund, larger purchases). Just can't get the change jar thing going over here.