Thrifty Thursday - Paying Cash

This week for my Thrifty Thursday post, I'm talking about paying cash in order to save money.

I am the worst one when it comes to paying cash for my purchases. Seriously, unless I keep a calculator going as I walk through the grocery store, I have no concept of what I am spending. Most of the time, I think I've spent XX amount, and I am WAY over. Not good! That's the problem with becoming so reliant on debit and credit cards. (I am guilty as charged!)

Dave Ramsey and others tout the cash envelope system for getting out of debt, but it can also save you money - not only from phantom purchases like above where you spend more than you mean to, without knowing it; but also from companies that will give you a discount for paying cash on the spot. Did you know that many small businesses have to pay not only a set fee for you using your debit or credit card, but a percentage of the sale price too? Asking if they will give you a discount if you pay for your purchase in cash could end up saving BOTH of you money!

However, NEVER pay cash for large purchases where you could have something go wrong. Always use a credit card if you have one, so you can fight if your purchase doesn't work right, or labor hasn't done properly.