Danielle's thoughts on cash

Cashing in - Cash living:
May 2005:
- Went on a spending spree for not really necessary objects in
London, then decided to experience what it might be like to live on
cash rather than credit. Credit includes debit cards, credit cards and
overdraft. Cheques are only used for postal bill payments.
- So process was, go on line to check balance, after direct
debits, standing orders, previous profligate spending, bill payments
(credit cards), savings etc were deducted.
- Then draw out remainder in cash and live on it, including work
expenses, until the next pay cheque/ expenses claim at the end of the
month.
- Take credit cards out of purse and leave at home.
Week One:
1 May: Had £40 in purse already. Went to the Turkish baths at
Harrogate and then forgot and used debit card (still in purse as back
up) to book baths and massages for Jenny and me. Oh dear.
Insight: Transition is hard from credit to cash - how much is actually
in transition is unclear and it makes me jittery and keen to check
balances every day. Previous purchases (like Avon order from Brydi -
supporting young enterprise, you know) or commitments (going out to
lunch with friends planned for later in month) are like nasty little
surprises and make claims on cash allowance.
Insight: Awareness of unexploited assets and stored wealth: vouchers
and tickets for use on the train; legs (walking); Oyster card for
London travel (touch in and out); bicycle; expense claims (I don't
really pay for taxis etc used for work to get somewhere quickly); work
credit card and travel vouchers; nail varnish, bath oils and make-up
for quick make me feel better pampering; previously purchased cards
and presents for friends and relations (used 1 May, 4 May and 7 May);
when you travel first class (using voucher) you get free tea, coffee,
water, fruit and biscuits; gym membership (better use it!).
5 May: Edinburgh: Still using the last of the £40. Took a taxi to
meeting to get there on time (£5). Walked back to station afterwards
but that cost me £25 because of passing dangerous boutique mentioned
below.
Insight: I am a shallow person who buys stuff as a form of
entertainment - I had always thought I was pretty modest in my
consumption as I hardly ever "go shopping" as a planned activity nor
do I have any (or hardly any) credit card debt or use my overdraft.
However, I do have a habit of purchasing bits from time to time that I
hardly notice as it is unconscious because my plastic friend gives me
loads of capacity. I am also impulsive - if I see something I want for
myself or my family or friends, I buy it. This is not usually
unreasonable - no Chanel or whatever suits for me - but it is still
impulsive. So, I have cards and birthday presents purchased on
previous trips stored around the house.
Insight: I do not ever have any accurate idea of how much money I have
in my bank account. This means I need to check often.
Insight: I go out for meals quite a lot but not with family (from whom
I could scrounge).
Saint!: Things I haven't bought in May that I might have if I had had
a credit card:
- Gorgeous top for Victor's wedding
- Fab dress seen in boutique in Edinburgh (have to wait until
next month)
- Some nice shoes somewhere or another (there are always nice
shoes)
- Boden 10% savings before 12 May extortion (I do not need those
clothes, I do not need those clothes)
Sinner!: Things I have cheated on in May:
- Beekeeping auction: borrowed £100 from Si to get stuff - got
to pay him back in June
- Debit card to buy fab purse in boutique in Edinburgh (did well
on the dress above though..)
- Debit card to top up for 'pay as you go' phone (May 3) by £15
- Debit card to buy lunch #2 for Rhianna and Rowan after
swimming (£8 - they were "starving!")