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I am confused as to where to put the money when I make a budget. Let me explain.....if I allocate 25 dollars a month for car repairs and I do not use the car repair money for several months where does it go? Does it sit in an envelope or do I put it in a bank account. I was just wondering all of your thoughts on this. What does Dave Ramsey recommend?

thanks
 

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I've run into the same thing - I keep it in the envelope.

my example is: pets - I know that I won't need $25 or $50 per month, but I will need $300 per year - so I'll keep the leftovers in the envelope to accumulate til needed. If I were to put it into the bank, I'd loose track of it & it's intended purpose.

good luck!
 

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We keep ours in our bank account. We keep a spreadsheet of how much has been saved for each category (insurance, gifts, car repairs, etc), so we aren't tricked into thinking we have extra money.
 

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Id suggest putting in into the bank - a seperate savings account or open up and ING account. Keep a notebook/spreadsheet on when and how much you've put in there so you'll always have a running total.

example:

Jan 3rd - Car Maintenance - $40
Jan 20th - Vacation Fund $100

Feb 1st - Car Maintenance Fund - $25 ($65)
Feb 25th - Vacation Fund - $56 ($156)

This way you'll always know exactly how much you put in for what purpose.
 
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