5. Use Cash Instead of Credit Cards


Set a cash-only budget for the week to force yourself to save. Take out a certain amount of cash from the ATM at the start of the week, then leave your debit and credit cards at home. 

Cash makes budgeting and sticking to it simpler. When you pay with cash that you’ve planned for purchases, it’s easy to keep track of where your money is going. It’s also eye-opening and keeps you grounded in terms of how much money is going out vs. coming in from week to week or month to month.

You can avoid interest costs on new purchases if you pay with cash. Furthermore, if you have triggered a penalty APR on your credit card, it may be prudent to pay in cash because future transactions may incur nearly 30% in interest charges. Having to spread your money over the week can help you focus on just spending on necessities. 


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