Switching To A Cash Budget
Author: Michelle
Description: Switching To A Cash Budget for 2015, Michelle's new challenge and this is rough! I talk about how things will be going in 2015 and where my head is at.
Date: 2015-03-03T10:00:00+00:00

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# Switching To A Cash Budget: Ready To Become Debt Free…

posted on 3 March, 2015

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During my trip I spent a lot of time thinking. I was thinking about how far I had come and how far I still had to go and that this debt freedom thing is not for the faint of heart. I had said that I was starting a Cash Only Challenge only to have to reboot twice. I am switching to a cash budget, but first I need to spend some time…

## Reflecting on the Past 3 Years

My plan was to start this challenge this week but it’s just not going to happen. So, I will begin this challenge next week. This post is a bit of a ramble but will get to the cash budget part as you read through it.

I have broken a lot of habits in the past couple of years and my mind is in a very different space than before. In fact, I feel pretty empowered right now. I feel like the world is my oyster and that there are so many opportunities out there to be successful, to change my life, and to move forward. I don’t just believe this-I know 🙂

I wrote a post about a year ago that talked about a personal finance blogger’s worst nightmare…basically, that post was prompted after reading a post written by couple who was struggling and had made very little progress in the 5 year debt freedom journey that they had chronicled on their blog. In fact, the reaction to their post was so harsh they took their blog down.

Their story resonated with me…because they were living my worse nightmare.

## Not Making Progress, Not Becoming Debt Free

The thing is I’ve changed quite a bit since that post and I have a different take on that couple’s financial journey based on my experiences and personal growth since 2012.

I’ve made a lot of progress…but not necessarily debt freedom. I DID do the following in the past three years:

- Paid off debt
- Learned better money management skills
- Surrounded myself with a supportive tribe of people
- Cut my monthly expenditures
- Worked on my Depression that was made worse because of the debt
- Addressed issues concerning being STUCK in my life
- Quit my job
- Started taking risks again
- Looked fear in the eyes…and am still here

## Before I Could Totally Kill The Debt I Had To Deal With What Was In My Head

I believe that couple couldn’t take care of their debt issue because they had life issues that needed to be addressed first. They had to deal with the “why.” Why weren’t they progressing?

## Such as:

- Why were they compelled to spend?
- Why did they feel a sense of lack?
- What triggered their spending?
- What was the role of their family in their spending.
- What was the role of friends in their spending.
- And, as partners their “why” would be different for each partner

## My List or Issues:

- Watching my mom work like a dog when my parents divorced and how it made me feel as a child.
- Money seemed like a stressful thing instead of empowering. So, I was intimidated by the idea of actually having money.
- Not having a clear idea of what I wanted and not having action steps to get what I wanted.
- Needing a clear understanding of the role of my family in my money decisions and letting go of the negative lessons that I learned from them and holding onto the positive lessons taught to me by my family.
- Believing that it was even possible for me to turn things around.

## Why The Debt Journey Can Take Longer Than Expected

Sometimes you have to deal with the crap in your head before being able to make substantive and sustainable progress on debt. You’ve read 3 years of me just working through my sh$t.

It has taken 3 freaking years to deal with what was in my head. And it was worth every painful moment. Every blog post, every tear that I shed, every private journal entry, and every long-winded conversation that I had with you, with myself, and with my friends and family.

I have laid down the foundation to my success in the future and it is a very humbling feeling to think that I’ve made so much progress.

I was held back by so much fear and so I didn’t move forward in more ways than one.

## I’m So Done

With this conversation about debt. It has gotten old. It’s time to do something that I think a lot of people would find difficult to do and maybe bit frightening.

## Switching To A Cash Budget for the Next Year

Because every time I use credit I back slide. Even when I pay things in full. The thing is I had rocked my debt repayment until I had my bout of Depression in October which helped solidify my commitment to leave my job that was holding me back.

So, I find myself still in debt. But, in such a different mental space as I’ve spent so much time working on me.

Credit is too easy.

Cash offers a simplicity in dealing with finances because you have to be clear about your wants and needs.

And that’s where a lot of us struggle.

But, I’ve spent so much time working on what I want that I don’t need to figure that piece out anymore.

## What I Want

- Debt freedom
- Simplicity
- Hiking days
- Snowboarding days
- Hanging out with my friends
- Time to do what I want
- Coffee dates
- To make REAL money
- A challenge
- A family
- Travel
- My property paid off

That’s about it.

## What I Don’t Want

- 3 more years of debt

## I Have Nothing To Prove

- To The Jones’s-don’t really care about what they are up to.
- To My Friends-Luckily, they are super supportive of my dreams and are always in my corner. Now that I’ve grown my tribe I can move forward with the type of support that I need.
- To The Naysayers-There will be people who think that I won’t succeed. That’s ok.

## So, I Am Switching To Cash

- The part that I’m struggling with is the travel component. Usually we have to reserve hotel rooms with credit cards. For those of you who use a cash only budget could you help me with this??!! Do you use debit cards?
- I quit Dave Ramsey-do you have someone else to recommend who uses a cash only philosophy? I would love to read some new books on this topic.

## The Framework

- Bills-These are basically set up as automatic debits through my checking account.
- Switching from Credit Cards-Part of the delay is that I have to switch some of my accounts to my checking account
- Carry Cash-I’m trying to figure out the amount that I want to carry on a daily basis
- What Type of Budget? I’ve seen so many budgets out there so I’m trying to tweak how I do things.

## Incredible Things Have Started to Happen!

I think the Universe finally believes me! I’ve started to have some amazing things start to happen. They are the result of a lot of hard work, meditation, and trying over and over again to make things happen.

Now Is my time and I can’t wait to be even more audacious. Did you do your Vision Board yet? I did.

And, I’m the thinnest that I’ve been in the past 5 years. Boom.

## What Type Of Budget Do You Have? Did You Experience Similar Struggles Before Success Started To (Consistently) Happen?

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#### Michelle

I am an obsessive foodie, but not self-righteous with it, love travel, meeting new people, helping you look good, and am freaked out by people who don't enjoying reading...something! Grab a Perrier, read my blog, feel free to drop me a line! Hope to hear from you soon.

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## Reader Interactions

### Comments

1. Jayson @ Monster Piggy Bank says

   3 March, 2015 at 3:15 am

   That is the way to go, Michelle! We all want debt freedom. And you are an example for us. I am also excited to hike and to snowboard. Let us know your plans.

   Reply

   - Michelle says

     3 March, 2015 at 7:23 am

     Luckily, I don’t spend as much money in the summer as there are so many free things to do. Will keep you posted!

     Reply

2. thebrokeandbeautifullife says

   3 March, 2015 at 6:44 am

   I think it’s great that you’re so in tune with yourself, enough to know that you catch yourself back slipping before it becomes a problem and you deal with it head on.

   Reply

   - Michelle says

     3 March, 2015 at 7:24 am

     Umm, HOUSTON I have a problem! Thankfully, I have the past 3 years to rely on and I think I’ll be ok.

     Reply

3. Chela @SmashOdyssey says

   3 March, 2015 at 11:35 am

   Wonderful post! Thanks for always sharing so personally. You’re totally right that we all have to take a hard look at our “why”s before being able to move forward. Good luck with the cash only project! For travel, I’d recommend a debit card. Also, for security while travelling, I think. I look forward to continuing to read about this 🙂

   Reply

   - Michelle says

     3 March, 2015 at 12:01 pm

     It’s a bit frustrating to still have debt, but I am such a different person from before I feel like it’s a whole different ballgame. Am very excited to get this done.

     Reply

4. Diane says

   3 March, 2015 at 3:39 pm

   Everyone has a story. I have mine, too, although I have to say I’m not as in tune with mine as you are with yours as I still repeat some of the same mistakes. Again… and again. For me, I think it stems from a need to prove to others that I’m successful. Trouble is, nothing material actually reflects my own view of success. So, why do I feel the need to meet other’s definitions? I’m on the shady side of 50 and I *still* have trouble with that.

   On the subject of cash. It’s definitely the way to go. Cash is personal, credit isn’t. I’m struggling with the decision to switch to cash as I have a line of credit mortgage and using my credit card fits in with that system, But, even though I’m careful, I think I spend more than I should because it’s not ‘money’ it’s just numbers.

   I need to figure out a way to do this even if it’s just for groceries, petrol and incidentals.

   I predict you’re going to have a totally awesome year Michelle! Go for it!!!

   Reply

   - Michelle says

     3 March, 2015 at 4:20 pm

     Diane, we all wish to get to the “shady” side of 50! Which in my view is quite young given that people are living to be 115 years old. It’s like you’re a toddler in the grand scheme of life LOL! I have made these mistakes more than once so that’s why I can recognize my patterns. Luckily, my friends are very low key about money issues and very flexible if I want to do things that are frugal (they like that) I have a lot of well-to-do friends who became well-to-do through hard work so they are very comfortable with the kinds of money conversations that I like to have on my blog. We have those conversations among ourselves so I feel very free to be myself. I decided that I needed to introduce a little more discomfort into my process to make the final substantive shift in my repayment process. Also, I’m just done. I no longer want to think about my debt. When I get this done-things really happen. Like quitting my job. I was just over it. Thanks for the support it’s appreciated! We will kick debt’s a@@!

     Reply

5. Petrish @ Debt Free Martini says

   3 March, 2015 at 11:10 pm

   Really loved this post….welcome to the debt free saga. I look forward to see what happens while you devour your debt and kick it out of your life for good. I hoping the universe will smile down on me for I can use some serious change. Still loving your blog!

   Reply

   - Michelle says

     4 March, 2015 at 6:25 am

     Thanks Petrish 🙂 I was pretty close…then, backslide. That’s ok, the journey is a marathon-not a sprint. The Universe is on our side, we can make this happen and spread the word!

     Reply

6. Roz says

   12 March, 2015 at 3:10 pm

   For a budgeting tool try YNAB.com
   http://www.youneedabudget.com/

   For cash, research the envelope system online.

   You will spend less by using cash only!! Be blessed 🙂

   Reply

   - Michelle says

     12 March, 2015 at 8:44 pm

     Oh!Looking forward to checking it out. Thanks for the encouragement.

     Reply

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