I ordered the Dave Ramsey's cash only envelope system, should arrive today. I can't wait. DH and I are going to go to a cash only sytem. I hope this helps us spend less and save more money. How many of you are cash only? Does this help with your $$?
I, too, use the DR cash envelope system and I love it. Really helps me to stay on track with the budget. Which one did you get? I have the pink/orange one.
We do our own envelope system. But dh is very controlled about money. I tend to "rob Peter to pay Paul", so I really have to watch myself around the cash system. I'm getting better though.
I am the only person with a debit card to the bill acct. and I only use it for groceries, baby formula, baby clothes, prescriptions etc.
DH and I each have a seperate acct. with debit card for our personal money. DH has a credt card that he puts one or two things on per month in order to build his credt.
It doesn't work for me either. If I have cash, I think it's free money. I like debit card because I can see exactly where my money is going by checking my bank account online.
We have used the cash only system for over thirty years and it has worked out great. If you don't have the cash you don't get it, and most of the time you don't miss it.
I tend to overspend more with cash than with my debit card or checks so I try not to have much cash on hand at any one time. The envelope plan sounds like a great one though.
Autumn, the envelope system I bought is the brown and blue one. I tend to a bit messy in my purse, so ithought it wouldn't show the dirt and grime as much.
It works pretty well for us. We use it for kids stuff (small stuff that comes up throughout the month), clothes, medical bills, food, toiletries, gifts and eating out.
We use the envelope system for almost everything, but we do still use the debit cards for gas, and paying my bills online, etc. It's really been working for us. It helps me be more accountable for the money that's going thru my hands!
Just ordered the envelope system yesterday. I hope it works. I have thought about it long and hard but have decided it might be the organizational tool I need to stick with cash only. I had been using jars for cash only but I hated leaving them out on the counter with their labels on them for all to see (and sneak from). Should be here by Friday. I am glad to hear that it works for most of you!
We are cash only except for bills and gas. We've been doing it since September and it's been working great! I put my cash in jars instead of envelopes though.
We use the cash method for groceries, car repairs and one for prescriptons. We did do everything with cash. Now we have two accounts and everything is divided by pays. What is not yet due goes in one account and the remaining balance stays in our regular checking to pay extra on medical bills. ITs worked out well for us so far. Dh knows that if I'm not home he can get in the safe and take out what he needs for the cars or whatever and then he puts the receipt in the envelope so we know how much was spent.
I'm the same way as some of you other ladies. If I have cash I tend to overspend. If I have it in a specific envelope labeled with what it goes for, then I'm better cause I feel bad about buying 5.00 dollars of groceries or something, however I apply the same concept to the money in the bank. I have a mental "envelope system" and if I spend too much I have to see it on my bank account everytime I check the account online - which is several times a week! Then I just feel soooooooo guilty... so right now I stick to debit card. Though I could switch to the envelope system and succeed I think if I really wanted to (it makes me nervous having that much cash though)
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