Holiday expenses have a way of adding up.
Last month's outlays included plane tickets, Christmas gifts, and one too many trips to J. Crew. Tack on the everyday expenses that come with life in New York City and my budget didn't look pretty.
After reviewing December's alarming credit card statement, I felt the need to cut back … in a big way.
My solution? A cash diet.
It's as simple as it sounds. I'm ditching the plastic and limiting my spending to $60 a week, in hard cash. That will have to cover everything besides my fixed costs, including groceries, bars and restaurants, laundry, toilet paper, and transportation.
For my fixed costs, I count rent, internet, phone, insurance, and two memberships: One to my gym and one to Citibike.