Heard a guy at the hardware store say he budgets by the 'coffee can method'

He literally puts cash for each category in separate coffee cans at home, no apps or spreadsheets. Made me wonder if I'm overcomplicating my whole system with digital tools and alerts.

2 comments

2 Comments

kaib1814d agoMost Upvoted

Respectfully, I see it a little different than @the_logan. That firewall thing sounds good until your car breaks down and you're left pulling cash from the "mortgage" can to get it fixed. In my experience, that system only works if you never have an unexpected expense that costs more than what's in a single can. Digital tools let me track everything in one place and adjust on the fly without shuffling physical money around. Plus, keeping that much cash at home is a real risk if someone breaks in or you just plain forget where you put a can. It works for some folks, sure, but locking yourself into a rigid cash-only system can backfire pretty quick when real life throws a curveball your way.

the_logan14d ago

Heck yeah, that's like having a firewall for your wallet since you can't impulse buy what isn't in the can.