My wife and I have started a new system where we only pay cash for things other than gas and groceries. We did this back in September wish some success, but for some reason failed to continue it in October. This somewhat mirrors the Dave Ramsey get out of debt plan. The main goal is to know where all your money goes. Even if we pay heavily on our bit of debt we should have a lot of money left over each month. We don't! I'm counting on this to help us track our careless spending and hopefully eliminate our debt within a year, outside a house payment.
By the summer of 2009 I want to pay cash for a big vacation. My son will be 5 then and ready for kindergarten and my daughter will be 8. Possibly Disney World or Sea World. Not sure.
One thing I notice is I know not to leave coins laying around or my wife will scoop them up. I basically have an allowance right now of $150 a month which includes 25 each week for my Friday lunch and a few other incidentals. I've planned in $50 for going to the movies and playing cards. I know I won't be buying the $11 large popcorn and soda anymore. I'll just sneak in a small bag of my own.
Last night I stopped by Walgreens and picked up a $2 bag of licorice for us to munch on as we played Sequence. When I mentioned how much it cost my wife gave me $1.
Will keep you posted of our successes!