9 Tips for Living Without a Bank Account and Fees

6) Use the Envelope Budgeting System

If you decide that living using primarily cash is the right option for you, you will need to set out a budget for yourself to make sure you can divide your money between the various resources you need to pay for. One method is the envelope budgeting system, in which you physically separate your cash into different envelopes, such as savings, groceries, utilities, and whatever other regular expenses you may have. You should keep a running list of the amount of money in each envelope so that you can keep track of your spending and make adjustments to your spending habits as necessary. Additionally, it is important to keep the envelopes in a safe place that nobody else knows about to make sure that you will not lose them and to limit the chances of them being stolen.