[McD]

As an effort to get my variable spending under control, I am switching my variable expenses over to the cash-only envelope system. It'll be sort of hard and require tweaking, especially since Zac will still be using his debit card for many of his various expenses.

So far here are my catergories: Fun Money,Gas, Groceries, Vehicle (expenses, repairs, etc.) Clothes, Eating Out.

Am I missing anything? Also, do you have any tips or advice for me?

 

[Momto2Boyz]

When DH and I were first married, we used the envelope system for years and it worked great! I think the only reason we switched, was because of the convenience of debit cards...but Dh is out of control with his debit card now...so you've got me thinking of switching back!

It might take you a few weeks to get used to it, but I always loved it because it was so simple and straightforward! Especially for fun money...once it was gone, you knew you were done spending on junk until you got to fill it back up again!

My only warning to you, is leave the envelopes at home, unless you plan to use it! I once lost my purse with 4 envelopes of budget money in it. I left it in a cart at Wal-mart...by the time I realized it was gone, and went to the Wal-mart lost and found, the purse was there...but the envelopes were gone! I would have been dissapointed to lose 1 envelope, but losing all 4 was disasterous for us for 2 weeks!

But all in all, I think it is a good system! We might go back to it, now that you've got me thinking about how much I loved it!

 

[KJayEsq]

Those are similar to the categories I have. If you have any personal care products you need or are getting a haircut, that's possibly another category.

I just started the envelope system in December and it's really easy once you get the hang of spending cash. You should notice an immediate drop in anxiety because you don't have to worry how much is in your account every time you go to the store - it has already been withdrawn and is in your envelopes! :applause:

 

[Jessesbride]

what about home repairs (or decorations?) or Christmas/birthday fund? My son's bday is TOMORROW & whille we started (FINALLY) to sock some $$ away for Christmas in October?

we only had $211.00 to spend toward Christmas & didn't worry about his bday til after Christmas & then just decided to take it out of savings. :ack: Thankfully, his bio sperm donor decided to cough up some $$ (he's owed us roughly about $350 for the past 3-4 months), enough to cover what we will be spending toward his "gift" of a party at lasorquest & a cake.

That said... I really wish that we had saved for his birthday too! However, we have planned that starting in Jan 2008, we will sock away $50/month for Christmas AND birthdays (my hubby is Jan 4, Austin's is Dec 29... ), giving us $600 to be able to spend (& whatever is left put it into eme savings or back into the Christmas fund!) & this yr put it into a savings account all on it's own & let it accrue interest!

Believe me! I know all about those "little expenditures" that the hubby "has to have"... we're working on those... he HAS gotten better...! Keep at it, :fight: your hard work will pay off in the end!~ I'll be praying for you! :tay:

Kim

 

[FrugalMomof3]

I tried the envelope system but it didnt work too good for us, we do however only use our debit card fo everything and don use our CC's unless necessary but we pay it back within the grace period.

 

[McD]

I've just got into the habit of swiping my debit card too much and I don't watch what I spend.

HBA items are counted under the grocery budget, my haircuts are free, and we have a Christmas Club Account that is funded via autotransfer.

Thanks for the help ladies.

 

[Momof4cats]

Medical maybe, if you want to keep an account funded for that?

 

[McD]

Medical maybe, if you want to keep an account funded for that?

We have Tricare thru the military and we have no co-pays at the doc./hospital etc. May need to make an envelope for prescription co-pays though, they are 3$ a prescription.

 

[Kitten20]

Sounds like you've got it all covered. We switched to cash for gas and groceries, although we don't use envelopes. DBF would have cash for his spending money, but he chooses to deposit it into his "car savings" to buy things for his car. I especially love taking cash to the grocery store because I have been able to stick to $60/wk, instead of using debit and spending $80-$100 "just because it's there".

 

[Marie78]

I am going to stick to an envelope system this year too. Each pay perioed I have direct deposit and I am going to the bank twice a month to take out money for: gas, groceries, and my spending money for 2weeks. All my other money will stay in my bank account to pay bills. I am saving money each month for those irregular expenses that pop up: hair cut, clothes, car repair, birthday gifts, etc... I will only take out a set amount of cash to cover these expenses when they come up, that way money won't be leaking out of my account.

 

[frugalnana]

I have an envelope for gifts and home expenses. Such as a refrigarator or stove. Just in case.
Then I have one just for dh. He loves to fish. So I just $5 here $1, whatever after its divided so when spring and summer are here he can buy what he wants to fish with, worms, liver, minnows, etc.

But it sounds like you got it taken care of.

Good luck.