How useful is "cash in wallet"
andrew at farwestbilliards.com
Fri Mar 24 12:36:46 EST 2006
On Thu, 23 Mar 2006 13:43:46 -0800
Bill Wohler <wohler at newt.com> wrote:
> You might like it for budgeting (although there isn't yet a budgeting
> function) and to see how you spend your money (you might be
to me, this is the best reason for a "Cash-in-wallet" account. If you are a person who routinely carries cash and uses it for normal expenses, it can be very helpful to track how you are spending that cash. Quite a lot of financial "self-help" books recommend tracking your cash spending as a means to truly understanding where your money goes. People who carry and spend cash often don't really know where their money goes and why they're short at the end of the month. Even people who think they are fully aware of their spending habits can be quite surprised. I used to do it, though I never really carry cash anymore, and so I no longer bother. But its a great tool, and like all tools, its up to you whether you use it or not.
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