Ever have that situation where you thought you had a certain amount of cash… only to realize it somehow disappeared?
As in, probably you spent it, but are not quite sure where or when. Or how much you even had to begin with. (It most often happens for us in garage sale season…)
A transaction record would keep you in the know for where your dollars went.
You know those checkbook registers you get with every box of checks? Chances are you won’t need all the pages. Go ahead, open those staples right up and put a page to use! (You could also use any piece of paper, or create an excel worksheet, but if you have a little booklet of these handy pages already done up, why not?)
Write the balance at the top of the page. Money going OUT (spent) gets written in the “Payment/Withdrawal” column. Money coming IN (added) goes under “Deposit/Credit.” On the right you can keep a running total of your current cash balance. Viola! You now have a transaction log of all the cash passing through your hands.
TIP: There’s less of a paper trail when using cash, so save your receipts to easily balance your cash ‘account.’ Watch out for garage sales and other places where you don’t even have receipts to help, and spend the few moments it takes to write your expenditures down to keep track of where your money is going.
BONUS: Checkbook registers are the perfect size to fold around your cash in your wallet. Now isn’t that just icing on the cake??!
Let us know in the comments if there’s a way YOU have found to record your cash balance and transactions.