Cash stuffing, cash wallets, the envelope system. All three of these budgeting tool descriptions reflect the time-tested method of withdrawing cash, setting it aside in marked envelopes in different categories, and then only spending the money you’ve allocated for each. On episode #346 of Let’s Talk Money, Dave and Reb encourage listeners to put their credit cards on ice and get in touch with cash, by trying the cash stuffing method.
“Cash wallets and cash stuffing really mean the same thing,” Dave says. “Whatever you call it, it works for everyone because it is so tactile.”
However, the important thing to do before you start is determining in your heart and mind that you are going to stick to cash. In a society, where debt is the default position it is extremely important to commit to following through.
Recently, on CTV Ottawa morning, Dave was asked to talk about the importance of staying in touch with cash. To watch the interview go here: https://ottawa.ctvnews.ca/video?clipId=2754215
To watch Dave and Reb explain and demonstrate the financial date mentioned on today’s show, go here: https://youtu.be/fPeaxovLqvk and https://youtu.be/1BThYMXOICo.
Today’s show is sponsored by More Than Enough Financial—a financial coaching, tax, and mortgage company empowering people to find hope and freedom as they effectively manage their finances one day at a time. To order Reb’s e-book, audio book, or soft-cover copy of Cultivating Trust: Finding God’s Hope and Freedom for Your Finances, go to www.morethanenoughbooks.com or email info@morethanenough.ca, to arrange a pick-up from their Ottawa office.