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CHALLENGE #5:

Take a Cash-Only Approach

I’ll be honest—personally this particular challenge is extremely difficult for me whenever I give it a try. I love the ease of using my debit card, hate the process of taking out cash, and dislike carrying around a bunch of singles and change. Maybe it’s generational. My dad is old-school; he always has a little bit of cash on him, “just in case,” and I understand the rationale for having some dollar bills in case you run into a cash-only situation. Despite my resistance, I also recognize cash works as a crystal clear way to be mindful of your spending. What you see is what you get, and when you don’t have any more, you’re S.O.L. Utilizing a cash-only strategy for a day, a week, and a month opens your eyes to how you budget, whether you’re budgeting effectively, and exactly how you spend money. It also helps you feel a sense of ownership over the money you’ve earned and realize its value. Give it a try.