The envelope system?
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  1. #1
    Registered User Clutterbug Jen's Avatar
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    Default The envelope system?

    I accidentally posted this in the wrong area of FrugalVillage so am re-posting it here [and hope you're not all tired of me yet with all my posting & questions!]

    Okay - I was just wondering how many of you use the envelope system and how it worked for you.

    For myself, I was thinking that maybe using this system for everything but my monthly bills, might be a good thing.

    Going to the bank and getting cash for any trip to Walmart that I make and then making sure to leave my debit card and my checkbook at home.

    How has this worked for those of you who do it?

    ~*Jen*~

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    Registered User redhead68's Avatar
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    Smile

    I have never gone whole-hog into the envelope thing, but I do withdraw a specific amount from the bank once a month. I use that cash for groceries, eating out, gasoline, & miscellaneous expenses. When it's gone, it's gone.

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    Registered User Cricketlegs's Avatar
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    I answered in your other post..lol..more than once.

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    Registered User Clutterbug Jen's Avatar
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    Thanks girls for your input on this! :-)

    ~*Jen*~

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    Registered User changed4life's Avatar
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    I find the envelope system to require too much planning; trips to the bank, etc.

    I like using my debit card for purchases and find that I am very diligent in recording what is spent. Seeing my balance dwindle from purchases keeps me focused on any unnecessary spending and it helps me think twice before I do. I find this works well for me as my checkbook register also serves as a way to write down all my purchases and keep track of them.

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    We have been doing it for 11 months and love it.
    It took some tweaking but it really keeps our spending under control.

    I have photos of our system on my blog:

    http://accountability2themasses.blog...label/envelope

    This month we are doing it for just gas and groceries to see if that tweak is better. And we stopped separating out for the pets and kid a few months ago--- everything goes into the groceries envelope now.

  8. #7
    Registered User Clutterbug Jen's Avatar
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    changed4life, I also love using my debit card 'cuz it's easier but for me, it doesn't seem to be working for saving $.

    I see a balance in my checking and to me, it's fair game to spend [I'm not accountable to anyone but myself.]

    I think I'm gonna have fun trying with the envelope system to see if I can have any cash left at the end of the month.

    For some reason, I have a feeling that it'll be a challenge to me and I'll be extra careful [I hope!] *lol*

    dkhd, I went and checked your blog out and love it how you have your system set up!

    With me, I'm only gonna need one envelope because mine is gonna be just for household things and cat food, litter, etc.

    It looks like you've got things figured out pretty good with the system! :-)

    ~*Jen*~

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