The Cash Experiment: Can Paying with Physical Money Help You Save More?
A One-Month Trial Comparing Cash vs Digital Spending Habits
In today’s world, everything is digital. We swipe our cards or pay contactless, and the money flows out of our accounts without much thought — often at a faster pace than we would like.
And then at some point, we look at our bank accounts and are like “where the hell did my money go?!”
Sounds familiar? It sure does to me.
With this in mind, I decided to conduct an experiment: to pay for everything using cash only, for two months.
In this article, we will explore the results of this cash experiment, I’ll provide an analysis, review some studies and of course, discuss the results.
The Experiment
I already ran into my first problem: I can’t pay everything with cash.
Loans, mortgage, internet bills, electricity bills… etc, are all “digital automatic wire transfers. So I reviewed all these bills, and just paid them through my bank account as usual.
After doing this, whatever money that was left from my pay check, I withdrew all in cash and used it for all other expenses, including groceries, eating out, and personal…
