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Mary Hunt

Reckless spending can consume a lot of cash — fast.

The secret to getting cash inflow to exceed outflow is to reduce the outflow.

Cutting expenses is not unreasonably difficult once you understand it is similar to giving yourself a tax-free raise. Every dollar you do not spend is another dollar in your wallet or bank account. The challenge is to find realistic yet painless ways to trim spending. Even if you do not have a job, you can give yourself a raise.


Except for payments you must send through the mail, living with cash is a good way to curb mindless spending. It is not easy. In fact, it’s hard. But if you are willing to teach your brain and your attitude to treat this move as you would a job, it will become a very useful challenge.

Surveys indicate cash customers are more mindful of what they’re doing, and therefore spend a lot less than those paying with plastic.


Unless you have a specific need and the money to pay for it, don’t wander aimlessly through the mall or surf the internet just to see what looks good. Remember this: A true need never is discovered while standing in a store. It is realized during normal, everyday living.


Study your last bank statement, looking for subscriptions — such as streaming services, music services, product and entertainment memberships and other kinds of subscriptions. Think: Which ones do you use most often? Which had you completely forgotten about? How could you replace it with a free (news, music or entertainment) service? You could be spending a lot each month on stuff you no longer use or want. By cutting unnecessary subscriptions, you can give yourself a small raise every month.


Frequent trips to the ATM and/or frequent swipes of that debit card tied to your bank account are like a small hole in the bottom of a boat. That constant leak quickly can lead to capsizing. Plug the leak by developing an envelope system for areas that can get out of control such as entertainment and fast food.

Get some envelopes. Label them accordingly for food, gas, etc. Divide the cash into the envelopes according to how you’ll spend it. As you buy food, gas, coffee and so forth, take the money from the corresponding envelope. When it’s empty, the money is gone, which means no more spending in that category until the next fill-up.


Have you taken a look in your pantry and freezer lately? You might be surprised to see just how much food you have that is already paid for. Use it up before you make another trip to the supermarket.

Before you buy anything new, you should stop long enough to ask yourself this question: Do I already have something that will do just as well for now? You’ll be surprised how many times the answer is “yes.”


If you’re rolling credit card balances from one month to the next, you’re paying out a lot of money in interest. Pay off those debts as fast as you can, and do not replace them with new debt. The interest you don’t have to send to your creditors anymore is money in your wallet. Yep, just like giving yourself a raise.

Mary invites you to go to EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at everydaycheapskate.com/contact, “Ask Mary.” Tips can be submitted at tips.everydaycheapskate.com.