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7 Rules for True Riches: Use All Cash

How much cash do you have in your wallet? Or, maybe I should ask how much would you like to have?

The 3rd of my 7 Rules for Financial Freedom is using all cash so you learn and control your spending habits.

Getting into debt is easy, but getting out takes some work. Many people borrow money and spend above their means because that is what your parents did, or what you think you have to do to impress your friends or make yourself happy.  

By using cash and recording every purchase you’ll see where your money is going.  It’s a quick way to gain control of variable expenses.

Avoid using your credit card and carry cash for one week or more. Then, record every single purchase you make.

At the end of the week, total and review the money you spent. You’ll see where you need to make changes. If you’re married, you can lovingly help one another. Do the same thing another week. At the end of this week, apply all extra cash to debt or an emergency fund and continue the process.

Recruit a wise friend who will hold you accountable, encourage you and help you ruthlessly cut costs. Anything you don’t need to survive should be considered.

Conveniences are costly. But, so are TV services, monthly subscriptions, memberships to gyms, clubs, sporting events, and concerts.

Stop eating out and buying coffee. Avoid all drive-thrus! Try giving up soft drinks, cigarettes, and alcohol. Can you cut entertainment costs or cell phone plans?

Cut out as many unnecessary expenses as possible and you’ll be surprised at the money you can save each week. Since every penny counts, prepare a weekly grocery list so you can cook at home, pack lunches and carry snacks.

And don’t complain but find joy in this. Record, Review, and Recruit  you’ll make progress.

Learning to be faithful with little, you’ll one day be faithful with much. Going to All Cash Spending is Rule #3 to experience financial freedom.

If you’re struggling with overwhelming credit card debt, I want you to get in touch with our partners at Christian Credit Counselors. They’ve helped thousands of people escape the burden of credit card debt and can help you too. For more information, call the Crown Help line at 800-722-1976 or go online to