These kind of things always start with a story.
In my case, it was a rejected debit card at a McDonald’s drive thru. It was payday morning. And it was a Canandaigua National Bank Mastercard.
For $3.88, I was told I could go take a flying at it. No breakfast burritos for you! Without a word, I pulled ahead from the first window, past the second window where I could see them holding my black coffee. Cuidado! And on to the street.
My debit card had been declined.
Now, I knew there was enough in the account to pay for that meal nearly 100 times over. But they didn’t. So there I was. No cash. No credit card. No breakfast.
So. I decided that I needed to do something about it. And my plan quickly formulated in my head.
One week. No cards. 100% cash basis. Starting now.
The 100% Cash Week – September 2011
This afternoon, I went to an ATM and withdrew $120 in cash. The goal is to have it last me through next Friday with some to spare. I will compare and contrast hard dollar costs and savings, as well as time lost or saved because I’m using the archaic paper currency.
I will carry my debit card in case of emergencies (let’s not get all crazy!), and I will utilize ATMs if I need to. The plan though is to act as if I went to the bank today, took out part of my paycheck, and that’s that.
I’ll be checking in daily this week with updates, and I’ll write a summary of the experiment next weekend. I of course welcome your thoughts on this, as well as anything else on my blog.
I feel richer already.