Paying Cash for Everything

FPU Online Journaling

The Emergency Fund: Last weekend was the first time we had cash on hand to pay for an emergency. Our car broke down on the way home from an out of town trip. We got help from a highway patrolman and made it a lot closer, but in the end sill had to pay for towing and of course the next day, pay to get the car fixed. We saved on labor by doing installing ourselves.

Dave says in the video he can remember the first time they had money to pay for the car – I know we will be remembering this because we have been keeping such good track of our credit cards and paying off the debt, not putting it on the credit card felt good.

And we paid cash for everything. We had step one finished ($1000 baby emergency fund) and now need to switch from paying heavily on our credit cards to putting the money back in there. That won’t take us long and we’ll be back to the paying stuff off mode.

Cash Purchases: On not hearing people say, “I’m saving up to buy ____” ~ true, I never hear that. Even with people who I know are living paycheck to paycheck they still go out and spend every dollar. We’ve been doing so great the past few months and not using our credits cards but just using cash – though it is hard to think of it as cash when you swipe a bank card.

We started the kids allowances at the beginning of November and give them cash. They took it with us to a fair and counted their money out. I struggle with paying cash for things because it is *easier* to swipe that card – but it is not a credit card, it is a bank card attached to the cash. I have to remember that.

Dreaming Big: If I were debt free but the house and had $10K sitting in the bank – I would not worry. I would know I’ll have enough if the car breaks down, if an emergency trip has to be taken. That is enough for plane tickets, car rentals and hotels.  Enough said, I would just not worry.

I am all good if I never borrow money again.

I’ll talk about what we do owe later.

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