Cash only.

I was so excited when I got my new bank card with contactless. A whole new world opened up before me: the world of quick purchases without entering my pin for minor spending.

Then I got a credit card to build up my credit score.

I thought that I was happily moving towards completely cashless living. No scrambling around for lose change anymore. Quick transactions only.

But recently, I've actually become increasingly reliant on cash. I would take out a specific amount each week and use to for paying for groceries, petrol, coffee, shoe repairs, hairdresser. Some purchases would still need to be done digitally, like most of my utility bills, mortgage repayments, council tax and an odd online purchase, but the vast majority of the time, I would just use the physical money in my wallet.

I do it for a number of reasons. First of all, it came about as a money management tool. I try to live frugally and it is much easier to do so when I'm using cash. I can literally see how money dwindles in my purse. Using cash makes me a more intentional spender, because I an only spend as much as I have in my purse. The budget is truly limited. A side benefit of this was less food waste as I bought less groceries. I also spend less, because I'm a much more savvy shopper, looking for deals and discounts on items I need to buy.

Secondly, using cash really kills impulse purchases and emotional spending. It literally hurts to part with physical money. Parting with hard-earned cash is much more difficult then tapping a card. I've discovered a completely different level of attachment to money while trying to use cash only. By this I mean a deeper understanding that I've worked for this money and I want to buy things that really enrich my life in some way. A cheap decorative item, a not so flattering shirt or a cream-filled doughnut won't do. Again, intentionality is the key here.

My next step on the journey of being better with money is to get to grips with the cash envelope system of a sort. At the moment I have just one pot of cash for all outgoings. I would like to divide my cash into specific categories of spending so that I can see clearly how much I spend on each of these and direct any potential spare change into my savings account. It's all very well to withdraw £50 for the weekend in London, but how much of it goes towards travel, how much towards drinks and how much towards eating out? I think it will be quite revealing and will lighten the burden of tracking individual purchases, something that I do at the moment. I'm not so much interested how much I spend in individual terms, but I am very much interested how much I spend in general terms on groceries, eating out or clothing.

Financial institutions want to sell us the idea that cards are the way forward, but I still see the benefits of using cash to become a more conscious consumer.