Daily Archives: January 14, 2011

Hang Onto Your Cold Cash

So I read this idea in Reader’s Digest decades ago.

So goofy it stuck with me.

Now, this was in the days before debit cards existed, and there weren’t 50 million Capital One cars floating around.

So, people paid with checks or cash.

Now, this tip only helps if you have stopped using credit and debit cards, and do not write checks to buy stuff.

It is one more self discipline trick.

Only buy stuff with cash.

Now, you can pay your monthly bills, car insurance, et cetera, with automatic bank transfers or whatever.

This strategy is to slow us down from buying new stuff.

Keep your spending money in the freezer.

Not just in the freezer.

Freeze it in water in an ice tray, or plastic freezer bag.

Then, when that urge to buy hits, pull out the cash.

And wait.

Wait until it thaws and dries out.

If you still really want that thing, buy it.

Most of the time, your ardor for shopping will cool as the cash heats up.

Hang Onto Your Cold Cash