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Week Six: Re-evaluate Your Monthly Bills

This week, we are going to use the spreadsheet that you set up in Week Three that listed all of your monthly bills.

Up until this point, I haven’t asked you to actually reduce any of your spending.  So far, all I have asked you to do is get organized, cut up your credit cards and start using cash for all of your purchases.  Now we are going to start looking for ways to save money every month. [click to continue…]


Week Five: Set Up Automatic Bill Pay

This week, your assignment is to put your bills on autopilot.  Before I used the cash system, I wasn’t able to do this. I could never be sure that the money would actually be in my account when the auto bill pay went through. With two of us running around town swiping a debit card for our everyday purchases, sometimes there wasn’t enough left over to pay all of the bills on time. Now that you have set up your budget worksheet and know exactly how much money you need to leave in your account each month (week 3) and have started using the cash system for all other purchases (week 4), you won’t have this problem anymore either [click to continue…]

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Top Ten Ways to Save Money

  1. Use only cash.
    If you do only one thing to improve your finances, make it this one simple step. It is, far and away, the single most powerful change you can make to save money. I have written in detail about the principle here and here.
  2. Wait for 30 days.
    If there is something you want to purchase, write it down, along with today’s date, and then wait 30 days. If 30 days later you still think the purchase is a good idea, go ahead and buy it. I got this idea a long time ago from Zen Habits, here. This is an especially good idea whenever considering any larger purchases.
  3. [click to continue…]

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Week Four: Start Using Cash

In week two of our series you cut up all of your credit cards and started using your debit card for purchases. This was a huge step in the right direction, as you are now only spending money that you have. Getting out of debt and achieving your goals requires you to live within your means. This week we will take things one step further and start using cash for all purchases.

Why can’t you use your debit card for everything? It’s convenient and the money comes straight out of your checking account, so what’s the problem? [click to continue…]


The Penny Pincher Blog was voted in the Top Ten Best Blogs for Penny Pinchers by the website CouponDaily.  Pretty cool!


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