Tuesday, December 12, 2017

Effective Immediately - Living on Cash!!!

For the last couple of days, I am thinking how to change my spending habits. I'm in the largest debt since I got divorced, I owe on credit cards $12K and it is time to cut this crap.

Today, I took Visa and Master Card out of my wallet, I decided not to use them anymore. I'm going to live my life using cash to pay for my purchases. There are certain bills that are automatically paid by my Visa card and that's okay, I will keep that.

I set the strict budget of $50 per day for all my needs including food, clothes, travel, going out, etc... I’m going on a $700 budget every two weeks and all of my spendings will now be in cash.

This morning I looked at my Visa account statements. I looked out for my spending habits in various categories: food, entertainment, personal and household items etc. Let me tell you, and this is a major eye-opener for me, I am shocked by the frequency at which I spent for food and dining out. This is a major problem area that is sucking up a majority of my money, and I simply had no idea.

So this morning I went to the bank and got $450 for the remainder of this pay period. My paycheck comes every two weeks and next one is on December 21st. Until then I have $50 per day and I'm not allowed to use credit cards.

By far the toughest part of moving to the cash-only system is saying “no” to things and people. I'm nothing without my friends, but having friends ain't cheap. Nights out cost a lot and this needs to stop.  Socializing is not the priority for me, so I'll not set any special money aside for this, paying out my debt is the top priority.

Having a girlfriend is the expensive affair too, especially if the girlfriend is not willing to share the costs of dining out. Oh well, all my girlfriends had been more or less the same in that regard, they had their priorities, their children to take care of.

Since I became divorced, 4 years ago, I think I have spent more than $30K for girlfriends alone, I mean paying them vacations, presents and, and of course, breakfasts, lunches, and dinners, with lots of wine and beer in between. Over the last couple of days, I have been trying to calculate exact amount and I was shocked by the math. This revelation is a major hit to my self-confidence.

Today I am changing all that. What I have spent so far, I've spent and I'm not regretting it but I'm going to honestly speak with my girlfriend and tell her what my goal is. If she does not agree with me and if she does not support me, I will end our relationship. I'm serious. I want to live my life consciously, only dead fish goes with the flow.

In the society that started cutting cash, and Sweden is the first country to implement this, I'm returning to cash-only life. Maybe you're laughing at this but my financial goal is clear-cut the debt and save $10K in 2018. I am just being honest, first with myself, then with my girlfriend and friends and everybody else who is reading this.

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