In days gone by wages weren’t magically transferred to your current account through BACS. Wages were instead handed to employees in a little envelope. Indeed, I remember the small brown envelope which I used to receive from my first job (I delivered the local newspaper in case you’re interested).
Sometimes I think that would be easier now. You pick up your money and you know exactly how much you have to work with that month. There’s no way you can’t, it’s right there in front of you on dog-eared notes and shiny sterling. And, when it’s gone – it’s gone. Granted, I think in my papergirl days my mom was always on hand with a sub if it was required for those (first time around) Take That tickets. Thanks mom – love you lots xx
There are, of course, substantial downsides to the cash in your pocket pay method. Not least the notorious wage robberies of the 1960s. The convenience of Internet banking is straight outta the window – want to stash some cash in your ISA, well off you trundle to the bank then! No Internet shopping! No fab deals on credit cards (I’m a cashback kinda girl).
But for the rest of the month I’m going to see if going the cash route is an easier way to stay in control of your finances. I’ve withdrawn £100 from the cash point and stashed differing amounts in envelopes, as per the mini budget I created. Granted I’ll miss out on the cashback which I get from my credit card, but if it stops me overspending then maybe cashback isn’t so important after all? Let’s see how it goes!