Kerri Waldron
For the first time in our nation’s history, credit card debt has topped $1 trillion.
The average American opens their first credit card at the age of 20, and most people’s average running balance is $5,700.
If you want to reset your finances, some experts recommend a cash diet. The idea is that using only cash for a set amount of time can help you be more mindful of what you spend.
To try a cash diet, first decide how long you plan on going all cash.
Experts also suggest creating a budget and dividing your cash into envelopes for spending with categories like groceries, gas, dinners, and miscellaneous items.
At the end of your trial period, compare your spending to what it was with credit cards and decide if paying by cash can help you save.
Source: bing.com
