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#BadassBudgeting Tip of the Day: The Benefits of a Cash-Only Budget

As you might have guessed from the name, a cash-only budget involves using just cash for all of your spending needs. No credit or debit cards are allowed. Checks are out, too. A cash-only budget is typically paired with the envelope budgeting system, where you have an envelope for each of the categories in your budget. (, December 2021). Traditional budgets often require a lot of discipline. If you've been over-spending in most of your budget categories, that might be a sign that you should change which type of budget you use. (, December 2021).

I typically use the half-budget method but when I've been spending too much or on the brink of spending too much, I turn back to a cash-only budget. The cash-only budget helps me to control how much I'm spending and gives me tangible money to work with. When I'm at the end of my money, I have no more to spend and it keeps me mindful of how much I do have to use and how to manage it accordingly. For example, this coming week I will have $168.28 to use for 2 weeks. This means I have an average of $12.02 to spend per day keeping me mindful of needing to buy gas and groceries.

I encourage you to try the cash-only budget and if you're looking for a great Canadian finance writer who is a big proponent of the cash-only budget, look no further than Gail Vaz-Oxlade. She is an exceptional personal finance writer that doesn't beat around the bush and tells it like it is which I appreciate. Do you know any other great personal finance writers? Comment them below. I'd love to learn and read from more writers! Signed, Filipina Budget Girl.

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