Udisha
With the emergence of online payment methods, our spending has significantly gone up. However, we must be wise about her purchases, especially on weekends, and the "Cash-Only Weekend" challenge helps you do exactly that.
Set a strict limit
The Cash-Only Weekend begins on Friday when you withdraw a fixed amount on Friday. Remember, the amount should not be excessive, set a strict limit. Once you have the cash, you cannot use any online payment methods until Monday: the money at hand is all you have. This challenge can really check your spending patterns by making you prioritise your needs.
More aware about your purchases
Using cash instead of online payment methods makes you aware of the amount you are spending. You feel the pain when the money leaves your hand. This has a mental effect that makes you think through every single purchase, reducing your spending significantly.
Divide the cash
If you think the challenge is getting difficult, you can make it easier by dividing your cash and categorising them, like food, travel, movie and so on. Put the separated cash in different envelopes so that you know how much budget you have for one particular purpose.
Save what is left
On Sunday, of you see you have some more cash left, congratulations. However, do not spend that money unnecessarily as a reward. Instead, save that money for a particular purpose that is close to your heart: maybe for a big trip or a nice watch. This also incentivises you to save a part of the cash at the end of the weekend, thus preventing overspending.