"Cash is King" is a simple rule that can change your life for good if you understand and follow it. Your financial life will be less stressful, and you'll have taken your first big step toward "financial peace of mind."
The idea that "cash is king" is easy to understand, but it may be hard to follow. This principle is the key to having less stress about money. There are a lot of things that tell us how to handle our money, but none of them seem to address the "root cause" of our money problems.
The biggest problem is that we live in a world full of plastic, and most of us don't respect cash or know what it's worth.
If you follow this simple but different rule of "Cash is King," you will be on your way to "financial peace of mind." Here are two simple ideas for how to follow the "Cash is King" rule:
Make sure you set aside enough money when you get paid to pay your rent/mortgage, utilities, and any other fixed costs you may have. If you still have money, you should take it out of your checking account and use it for things like food, clothes, gifts, entertainment, gas, etc. The best way to keep track of this cash would be to divide it up and give each variable expense a certain amount of cash. Then, put this cash in labelled envelopes, like the ones in the BUDGETkeeper SYSTEM.
Now, remember that you can only spend this money. Once you've spent all your cash, you can't buy anything until you get paid again. This is not easy! No credit/debit cards? You must be kidding! How will I get by until my next paycheck if I can't use my credit or debit cards? People say it's hard to stop smoking, but I think it might be even harder to stick to the idea that "Cash is King."
Keep in mind that "Cash is King" and be good with your money. You will start by finding the cheapest gas stations, planning your errands better, and making your own coffee in the morning instead of buying that latte every day. You will have to find many new ways to handle your money, and the first few weeks will be the hardest. You might even run out of money before your next paycheck, but if you stick to the "Cash is King" rule, you'll find "financial peace of mind" in the end.
After a few weeks, it will be easier to keep track of your money, and you might even find that you have extra cash before your next paycheck. What are you going to do with the extra money? Many people say that you should save the extra money or pay a little more on one of your debts. I say put it in a coffee can and let it build up, then go out and throw a great party.
If you can follow this rule, you will be on your way to making a budget for yourself or your family. Let the BUDGETkeeper SYSTEM show you how to get "financial peace of mind."
