I’ve been thinking about carry a $100 bill around with me. Risky? I could get mugged and loose all that cash. I think overspending is more risky than the chances of getting mugged (even though I’ve been I-phone jacked).
Did you know that breaking a $100 bill is a difficult thing to do? That bill is just so-perfect. It represents the largest note you’ll ever hold. $100 is a a lot of money, especially holding it in cold hard cash.
Save Money By Holding a $100
Let’s use the fact that it is 48% harder to break a $100 bill than spending $100 of smaller bills to our advantage. There are also studies that show spending cash is more difficult than using credit cards and debit cards; let’s use that fact to help us save money.
Spend $100 in Your Mind
If you have to go to the store to get an item, pack ‘Uncle Ben’ with you to the mall and spend it all. Then spend it again. Yeah! Go crazy with that money. IN YOUR MIND. Don’t cash it. Don’t even touch that bill.
Spend that $100 on items over and over in the mall. By spending the money in your mind, it will help get that spending bug out of your system. Plus, you’ll have spent not even a dime of that one hundred dollar bill. Try it. Better yet, spend $100 on paper 20x.
If you are in debt and being forced to be frugal, then you need a creative outlet for spending. If frugal isn’t in your nature, you need to spend without anyone getting hurt–especially Uncle Ben.
Have you ever tried this $100 bill spending trick? Would it work for you?
Photo Credit AMagill (Creative Commons)