Middle Class Prepaid Experiment- Month 2

I reloaded my prepaid debit card for the second time today, yes on Easter Sunday. It’s the 4th of the month and I already saw myself pulling out my bank’s debit card way too much already. So, I thought it was about time to put a limit on it.

For the month of March, I put $300 on it and we spent $100 by the first week. We tried to pump the breaks but since we were so used to endless discretionary spending in previous months on fast food, gifts and lunches out, it was a little hard to work in a limit of $300. So, by the 3rd week of March, I was starting to pull out my personal bank’s debit card to cover our lifestyle.

For the month of April, I have increased the limit to $400. I think this is fair. After all, the card is for ‘discretionary’ or ‘miscellaneous’ un-budgeted items like eating out and buying birthday gifts for my kid’s friends. In addition, it’s the shared account between me and the hubs. This is where you would think the big issue comes in, but no. I must say hubs was pretty good with the card for the first month. He uses it more for gas and lunch. This is because he deposits such a large share of his paycheck into our household account that he doesn’t have much left and often finds himself asking me for $20 during the week. NOT! I hate that. I hate being nickeled and dimed. So, the prepaid debit alleviates that. Also, he is now empowered to manage some of the discretionary funds without me worrying about him going overboard and bouncing a check in the regular bank account, or worse, running up major balances on the credit card.

So, let’s see how far this $400 gets us. BTW, I now have one other friend working this shared prepaid debit card experiment with me. It’s always good to have support. I will continue to let you know our lessons learned.

Please read “The Prepaid Debit Experiment” before you try this at home. It is not for everyone. There are fees associated with it and there are predators in this space.  

Keeping It Rich,



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