Spend your weekends with cash only to reduce your spending. Two banks make it even easier

What starts out as a low-key night out with friends can easily turn into multiple $20 cocktails, rideshare prices skyrocket, and late night snacks can cost as much as groceries. The atmosphere was great but your bank account is in recovery mode.

It’s a cash-only weekend for participants. It’s a social media trend that sees participants deliberately leaving their cards at home and bringing a certain amount of money with them to discourage overspending. First, set a budget for the weekend so you can withdraw cash on Friday and keep that amount until Monday.

If you want to get on board with the trend, here are two banks that make cash-only spending easy and profitable.

Research shows you’re more likely to spend more when you use a card

Using cards instead of cash can change your spending habits.

According to a 2024 survey commissioned by Forbes Advisor and conducted by market research firm Onepole, 58% of people said they were likely to spend the most money on credit card payments.

Cash-only weekends can help you create a concrete budget. It’s one thing to say to a friend, “I’m only going to spend $60 tonight,” but if you only have $60 in your pocket, you’re more tied to that amount.

Plus, eliminating plastic could potentially save you money elsewhere.

Credit card processing fees can range from 1.5% to 3.5% of the transaction amount, depending on the location and size of the merchant, the transaction and the types of cards accepted, Sofie said. It may not sound like a big deal, but swipe fees will cost the average household $1,200 in 2024, according to the Merchant Payments Coalition, a group of U.S. retailers and industry groups that advocates for fair payment processing practices.

For example, a 3.5% surcharge on a $75 bar tab can add up to $2.62. This isn’t a big deal once, but if you’re on the go most weekends, it can quietly add up to over $100 a year. Going cardless allows you to skip these additional costs and pay only for what you get.

Best checking account for cash-only weekends

CNBC Select previously recommended Capital One 360 ​​Checking Account and Ally Bank Spending Account as the best free checking accounts with perks like extensive fee-free ATM access and no monthly maintenance fees.

Many of these banks offer customers fee-free cash withdrawals at MoneyPass and Allpoint ATMs, a nationwide network of fee-free ATMs located in grocery stores, convenience stores, and retail stores.

Capital One 360 ​​Checking® gives you access to hundreds of branches and over 70,000 fee-free ATMs nationwide. This is one of the largest. However, out-of-network ATMs may charge fees. There is no minimum balance required to open an account, and there are no maintenance fees or overdraft fees.

Ally Bank’s Spending Account provides access to over 75,000 fee-free Allpoint and MoneyPass ATMs nationwide. We’ll also reimburse you for fees charged at other ATMs, up to $10 per statement cycle. Additionally, online-only banks offer competitive interest rates.

What starts as small habits can grow into healthy money habits that translate into big savings and steady financial growth. Next weekend, hit the ATM instead of carrying your card. Your wallet (and your Monday self) will thank you.

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