2015 envelope system challenge!!
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  1. #1
    Registered User Raiquee's Avatar
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    Default 2015 envelope system challenge!!

    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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    I am doing A modified as well.
    Set aside the July taxes-done
    Set aside the April/May Vehicle ins-Done
    Set aside the homeowners due in Aug-start as soon as a check arrives $400/$2800.
    I may do groc??
    and pet shots for June

  3. #3
    Registered User Raiquee's Avatar
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    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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    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 [email protected] lol
    Wonder whats in the cars. hmm?

  6. #5
    Registered User Raiquee's Avatar
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    Looks like it's just me and you in this challenge FW!

    Today I added:
    $20 to tree fund so $93/$200
    $20 to tire fund so $40/$1200
    $20 to garbage envelope so $20/$300
    $20 to Ed school so $20/$800
    $20 to water heater fund so $30/$1000

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    thats ok for now maybe someone else will need it soon
    So
    Auto ins. is set,taxes for July is set, and I am $90. short in the H. ins. $2710/$2800. for August
    Next is a power outage fund of $300. for gas/emer. groc./spare cash for stuff like ice or purchases that come up. And at least 1 roll of quarters for campground showers and laundry

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    Registered User Raiquee's Avatar
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    It's so nice to pay ourselves. Even though a lot of these funds are to pay someone else still, it's exciting to be more prepared then we have been. Our horse is finally getting in front of the cart for us!

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    Registered User Raiquee's Avatar
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    Quote Originally Posted by Raiquee View Post
    Looks like it's just me and you in this challenge FW!

    Today I added:
    $20 to tree fund so $93/$200
    $20 to tire fund so $40/$1200
    $20 to garbage envelope so $20/$300
    $20 to Ed school so $20/$800
    $20 to water heater fund so $30/$1000
    Added another $20 to the tree fund so at $113/$200!

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    Still here just nothings changed.

  11. #10
    Registered User Raiquee's Avatar
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    Quote Originally Posted by Raiquee View Post
    Added another $20 to the tree fund so at $113/$200!
    Added:

    $6 to tree fund for $119/$200 - we need to fund this soon, so I can start channeling money towards fruit trees.
    $60 to stockpile fund

    I am really enjoying myself in this challenge!

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    Still no job for Dh
    Have spent very little on groc. this week but still havent gotten into savings yet
    finished the van repair under budget and w/in the money for the month
    I guess we have to do the COBRA for sure and that will dip into the savings
    I cant say enough how glad I am I planned and stockpiled.

  13. #12
    Registered User knitnmom's Avatar
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    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.

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    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. #14
    Registered User knitnmom's Avatar
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    frugalwarrior2- I do D.R. as well, the app is just to help me track when I'm out and about. I really struggle with tracking and I was looking for something to maybe make it easier/more fun for me to try.

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    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.

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