Hello, Judy Copenbarger here! Do you have a contactless credit card?

It’s so easy to use that most people don’t even realize the hidden dangers of this new technology. In an age of incredible convenience, I want to share with you a reliable money-saving tip: If you find yourself getting carried away with spending, pay with cash.

The holidays are approaching and tis’ the season for spending… on your loved ones of course, and those who you just love to see a big smile on their faces!

Save more with cash

budgeting with cash

So let’s focus for a minute on how we can be more deliberate and intentional about our spending. When it’s actually easier than ever to spend my advice for you is to switch back to cash! If you’re trying to save more this will work for you. Let’s look at a couple of reasons that will help you master this financial principle.

Reason 1. You are increasing your hesitation to spend

Yes, you heard that right. You will increase your hesitation to spend. This is your filter or governor, it’s talking to you. It’s that little voice inside you that says “slow down let’s be intentional about this!” “Are you sure?”

Using cash and having it to hand over to register allows you to clearly see how much money you’re actually spending. The hesitation we feel when spending that cash is a good thing and this activity helps hold us accountable for every dollar that we do spend.

Not only that, but you may save a substantial amount of money on fees at the ATM by planning your spending ahead of time. The conveniences of downloading money from the wall often accompanied by a series of little fees which can add up to a whole lot of money over time.

Reason 2. You’re creating a physical limitation on spending

contactless payment

Contactless payments are easy and in many places, they have the same spending limit as just swiping your credit card. With just a little tab the purchase is complete! So you can avoid this expensive problem, with the physical limitation of simply using just the cash you have. By just using the cash that you bring to the store with you, you’ll be able to keep your spending plan top of mind and this will encourage you to think about your budget and your intentional spending. I’m willing to bet that you’ll already be thinking about your budget if it means another car trip home or a visit to the ATM for more cash. Try using an envelope system when budgeting for the month so when the money runs out, that’s it. This way you only have to be disciplined a few days out of the month instead of every time you encounter temptation.

Reason 3. You won’t have monthly payments to worry about

cash in envelope

The risk you take with the use of a credit card is the additional expense of paying it off later with interest. And this is a potentially forgettable task that could cost you even more if you were to miss making a payment on time. Those late fees aren’t cheap and hurt your credit score.

Now I’m not saying you should never use a credit card because they can play an important role in your financial life. You can learn more about them in another article titled: “Pros & Cons of Credit Cards“, where you’ll learn all about credit cards and their uses.

If you’re trying to save and get a handle on your financial situation I’m recommending cash as a way to visualize and experience where your money is going.

This will make your spending and budgeting so much easier. Spending is a part of life and it really shows up when we get to treat those closest to us. So here’s your challenge: Plan on using cash so you can be accountable for your spending, budget for important things in life, and lastly, feel confident about spending on those things that are most important to you.

Thanks for joining me today. I want you to have full confidence when it comes to your financial future. We are about to experience what could be the most expensive time of the year and with these tips, strategies, and planning resources, you will be ready.

Be sure to subscribe to the newsletter for more ways to save and achieve your ideal financial future.

Share this article with someone who loves their credit card just a little too much and in the comments below, let me know all about your experience with contactless payments. Was it too easy? Did you spend too much? How did this information help you?

Until next time, I’m Judy Copenbarger, God bless.

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