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2015 envelope system challenge!!

5K views 24 replies 4 participants last post by  Sophiasmama 
#1 ·
Hey all,

I'm doing a modified envelope system this year, as me and hubby suck at saving! All our bills, groceries and gas are still coming from our debit cards/checking account. However, we want some sinking funds in place and can't seem to get that act together! So I'm trying the envelope system.

My goal this year is to get a certain selected amount of envelopes fully funded, and utilize the rest of them.

Here are my envelopes!

Sinking funds:
BEF 0/1000*
DH fall tuition 0/800*
Tires for both cars 0/1200*
Medical deductible 0/1500*
Home repair EF 0/1000
Car repair EF 0/1000
Garbage pickup 0/300*
Remodel ??
Bow for hunting 0/1000
Water heater 0/1000
Land up north deposit ???

Revolving/monthly envelopes:
Hunting/fishing envelope 0/500
Homestead
Kid fun
Date my husband
Stockpile
Easter
St nicks
April envelope (all my kids are born in April!!!)

The ones I have stars next to I want to get fully funded by the end of this year. I will update this as I filter money into them! Please join me! :) some envelopes will go away for me (ie tires will be merged with auto EF, bow is a one time purchase hubby "needs", water heater is a replacement, etc)
 
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#3 ·
Got some cash flow to put into envelopes!

$70 put into tree fund Need: $200 by April
$20 put into tires fund Need: $1200 by Fall
$10 put into home repair fund. FFed at $1000

Anyone else doing this challenge for me? How did you get your snowflakes to tuck away? Ours was pulled from checking and also turning in scrap. :)
 
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#4 ·
I just got $20.07 from the CC points I will add to grocery avail. funds
-returned the last of the pop bottles for $5.
and am looking at my change jar that has at least $25. in it for perishables (former G. sale money)
I should be completely set this week and next.
Definately raiding DH's coins in his bathroom and laundry.
Gathering,gathering no coin is safe!@ lol
Wonder whats in the cars. hmm?
 
#12 ·
I'd like to join this challenge. I have been doing envelopes for a long time, but we got away from our envelope savings since we moved a couple of years ago and I'd like to get that going again. I would also like to continue to tweak and work on saving and budgeting better. We only get paid once a month since my hubby retired, which is it's own challenge.

Has anyone heard of or tried the app "Good Budget?" I am thinking of trying it to help me track my spending. I hate tracking and I'm trying to find a better way for me to do it. I know it's an important tool, it's just such a pain. Ugh.
 
#13 ·
knitnmom-no always did an adaptation of D.R. when I was in debt.

Envelopes-need to start a groc. envelope now that I shop at Aldis. I am always ripping off my H. ins. envelope if I go to Aldis impromptu. I dont use my ATM card anymore and thats all they take (no CC/no checks). Trying to decide if I put all the groc. money per month in there or just a likely amt. for Aldis??
 
#15 ·
knitnmom-I just run everything I can through the CC and track it online for the CC and the C.U.. The CC is used just to get gas points and points from Groceries and that. Been making $20-$40. here and there. I dont do the app. because I gave up my phone a year ago. I was set to get one then DH lost his job so that on hold.
 
#18 ·
frugalwarrior2- Ohhhh....okay. Yeah, I need to use cash as much as possible. For me, any kind of card use makes it too easy for me to overspend.
Knit mom) I don't have an overspending problem, I have a Saving problem. It's just too hard for me to put that money aside and differentiate it in my mind. But good thing you know where you fault, and you can start trying a system to fix it! :)
 
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#17 ·
Adding $20 to the homestead envelope due to a rebate we got from menards. Will be put towards extra things needed for the coop, or more lights.

Envelopes are working really well for me, in that I love stuffing money in them! It's very gratifying for me. Savings accounts don't have that "fun to feed" feeling for me. I think cause it's just an account and I can see it from my checking. Envelopes are more goal oriented and I feed very heavily on goals! It's completely a mental thing, and what works for some may not work for others.
 
#20 ·
Knit mom) yeah it gets me anxious for pay days just to rob a few bucks here and there and stuff in my envelopes. Start figuring out what envelopes you want. Sometimes having the goal written on the front is helpful!

I'm still waiting on my bros $100 :ache: that goes to envelopes once I get it.
 
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#21 ·
Due to me being on maternity leave and getting a reduced income, I probably won't have as much snowflakes to put in our envelopes. However, I did add the extra from the grocery budget last month to my stockpile envelope, and got the $100 from my brother. He's supposed to have another $50 for me in two days, but I'm lucky if I get paid in the same month his bill is even due :/

Recap on envelopes

Tree fund- fully funded for first goal of $200/$200. Now saving for next goal $0/$250
Garbage - $40/$300
Tires- $40/$800 (first goal) $0/$400 (second goal)
Hubby school- $20/$800
Water heater- $30/$1000
Stockpile- $120

Homestead had a $20 rebate check, but we used it to get some wood for the chicken coop roof.

Snowflakes we are anticipating $250 from the union hall. $50 from my brother.
 
#22 ·
been using DD's rent to fund part of our grocery money and I got $30. back from the new CC's 3% on grocery and gas offer.
I also have .50 off gas from Kroger points so I will put the diff. to grocery $10?.
Dh was bugging about envelope cash so I didn't get any money out last week.
So this week I will tuck in extra.

Thinking of starting an envelope for nov. car/van ins.
The current car ins. will be billed this month for next month.
 
#23 ·
Ok so we stole a ton of money from envelopes!! Lol. To the tune of $200!!

We will be replacing that on the 20th with DHs paycheck. My brother should be sending me $150, which means he's payed off on his phone bill. So that's either money for envelopes or for car repair. Well, I have an envelope for that. So we will shove it in there until I can fund the rest. With the payoff of his phone bill means my monthly payment will be going down in July! Woohoo! Never bringing a family member on the phone bill again, sheesh.

My goal of putting $25 a paycheck in envelopes may not be a reality. We shall see.
 
#24 ·
DD is late on her rent but should have it Monday. So I will put it in the savings pile but may have to steal it for COBRA. He prob. wont get paid from the job he starts Mon for at least 2 weeks maybe 4. His side job money need to be here soon.

We have ants. but I have a vaccumn cleaner. Just not looking to hire anyone right now.
 
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