When I use cash I split the transaction like this (in YNAB):
CASH -$7
LOOSE CHANGE +$0.36
STORE +$6.64
Loose change is an account that represents at least as much money as there is in change in my house, pockets, cars, etc while cash is an exact tracking account.
Have you found value out of this? I just consider cash spent as soon as I withdraw it, as far as the budget goes. Tracking small change sounds tedious and seems line it wouldn’t provide value, but so I’m curious to hear if you think differently.
I do the same as you. I used to attempt to track cash spending but I found that if I wasn't tracking it within 24 hours of it being spent, I probably wasn't categorizing it correctly anyway.
Since my cash expenditures represent well under 1% of my total spending, it wasn't worth tracking in detail.
I used to do this but I started tracking change separately because I want to track budget categories exactly but I also don’t want to have to count a bunch of change every time I reconcile my cash account. The change account is only tracked automatically, it would be too tedious to do manually.
I used to toss coins in the bin. Time spent accounting for then (Where are they now and how much is it, how much more do i need?) cost more time then their value. Now I live somewhere where some merchants only accept cash, so I save them again. It's a hassle though.
