Frugal Village Forums banner

1 - 4 of 4 Posts

·
Registered
Joined
·
2,058 Posts
Discussion Starter #1
I am trying to get my DH involved in doing the envelople method. He isn't a spendthrift any more and has finally been able to take care of our finances without killing our budget. Let me tell you, in five years of marriage, he has changed his way of thinking dramatically.

Here's the problem. He can budget for our bills and major expenses but he can't seem to keep enough money in our account to actually have a savings account. He doesn't understand that adding $20 here and there adds up. We are going to a financial counselor this month so he can learn to budget for the little expenses.

I would like to know if there is anyone out there who's significant other has made a complete turn around to frugality using the envelople method. I would love to hear your stories.
 
G

·
Guest
Joined
·
0 Posts
I started the envelope method based on another thread on this forum. I followed the suggestions and it seems to be working.

The funny thing is that my husband has done this type of thing all along. Only he doesn't need envelopes. He uses his wallet. (we have kept our finances separate because I have been so poor in handling money, he didn't want me to spend all mine and then spend all his. He's a smart man. Just makes for a happy marraige).

It is harder to part with cash than to swipe that debit card.
So you think twice about spending.

First, I direct-deposit my fixed bills amount into my checking account.

Then, I have 3 envelopes. One for gas. $20. Another for groceries $115 and the rest is for everything else. Which is fixed expenses, less the gas, less the groceries. Essentially, it's everthing remaining from your paycheck.

When paycheck comes again. the same thing happens. But whatever is not used in the first three envelopes goes into my savings account. And I start again with a new budgeted amount for the week.

I don't use my debit cards or my credit card anymore. I put those away.

It is amazing how fast your account grows. You just don't want to spend that 'everything else' cash. It's so hard to do.

I found this to be the most helpful learning tool for me to control my spending and increase my savings, pay off debt and build a stockpile.
 

·
Registered
Joined
·
306 Posts
My DH is definitely by nature a spendthrift (well, I'm only a little better :toothy: ) but he's done an amazing turnaround during our 5+ years of marriage. We started using the envelope system about 5 months ago, and it has worked well for us.

One of the hardest things is to learn the discipline, which for us basically means no spending for daily expenses outside of the envelopes. We have envelopes literally for everything. My DH has both the debit card (only for emergencies) and a credit card (for gas, since it's more convenient and we get cash-back). I also give him a set amount of "blow money" every month for personal expenses. That way, he doesn't feel like he can't do anything "fun". Sometimes he wants to order something online, so he needs to use a credit card - he will then "pay" me in cash for his purchase, which I then deposit in the bank. That's the only exception to the all-cash rule. I find that once you start making other exceptions, then it's very easy to lose track of the goals. Having the no-exceptions policy has worked well for both of us.

Above all else, when things get difficult it's important to have an honest conversation with each other. I thank and praise him a lot for his efforts and the progress he's made, saying that I'm proud of how well he's doing. I also share that it's not easy for me, either, so that he understands that we're in this together. These conversations really help us feel that we're on the same team, and that helps keep us motivated.
 
1 - 4 of 4 Posts
Top