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Discussion Starter #1
Hi!

I was just wondering how many of you use the envelope system and how it worked for you.

For myself, I was thinking that maybe using this system for everything but my monthly bills, might be a good thing.

Going to the bank and getting cash for any trip to Walmart that I make and then making sure to leave my debit card and my checkbook at home.

Has this worked for you? Would love input on this.

~*Jen*~
 

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I use the envelope for

grocery
gas for the car
pet food and misc
dh and my allowance

IT WORKS GREAT--once the money is gone it is gone and if you have some at the end of the month it is just a bonus!
 

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me again--lol

be ruthless with your budget.

Budget out exactly how much you need and stick to it.

When you put the cash in the envelopes let that be it and jot down on the corner of the envelope what you have left(I have moved to a small fileadex like what I use for my coupons--they STAY in my purse)
and keep in mind that if you are down to $30 and you still need gas for a week that you have to make it WORK or steal it from another envelope(better from personal allowance than say the grocery cash) and NOT NOT NOT EVER from the SET BUDGET.

See how that works--the cash SAVES the budget and the budget is the LAW or you never will get anywhere.

That is why the cash works. It protects the budget.

Also. when you shop slip the receipts for what you spent in the envelope you took the cash from and you know what you spent and when and if you used coupons, how much you saved. It is like a double bookkeeping system that is fast and easy.

Keep the envelopes with you and IF you are at the store and you see WOWZA peaches .25 a can you have the ability to take advantage of a great deal you don't want to miss and you didn't whip out the checkcard and wreck the budget and get a late fee for being late on the gas bill because you over spent.

AT the end of the month take all and any left over cash and decide where to put it. Debt, vacation, a night out, whatever it is bonus free money!
 

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And remember to put all change in a jar each night and cash it in when full.

That is an added perk of cash method. YOu have change going towards something else everytime you spend money.

The bonuses just keep adding up don't they?
 

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I just started using the envelope system for what I call residual cash purchases...gas, cigarettes, gifts, etc. this month I am allowing $300. I wouldn't use it for any of my bills, since the majority are directly deducted from our checking acct. each month or paid on-line. I am going to use an envelope this month for grocery money to see if I can stay under the $300 goal I have for myself.
 

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I really need to do this. The grocery store is where I always mess up. But I'm worried about carrying cash... does that ever bother you? In 1998 I was mugged in the parking lot of the local grocery store. The thugs made off with a whopping $5.00 bill :loser: Now I carry a very small purse with a long strap that hangs around my entire body, rather than just over my shoulder. But I'm still wary...
 

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I only use the cash envelopes for: groceries, gas, and anything I am going to purchase (right before I purchase it) I'll take a set amount out of the bank if I need a Hair cut, purchase a gift, pay for a Dr./Dentist visit co-pay. Otherwise I don't really have personal spending money...whatever I have left over from groceries and gas for the week I will use to buy a coffee or a snack from work during the week...if it's only $2 it's only $2I have to spend on myself.

I write checks for all of my other bills and I have a budget set up so that I pay certain bills at the beginning of the month with my 1st pay check and certain other bills get paid with my 2nd paycheck of the month. That way I know where the money is going. I also put a set amount of money in the bank each month for savings/discretional items that need to be saved for.
 

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I really need to do this. The grocery store is where I always mess up. But I'm worried about carrying cash... does that ever bother you? In 1998 I was mugged in the parking lot of the local grocery store. The thugs made off with a whopping $5.00 bill :loser: Now I carry a very small purse with a long strap that hangs around my entire body, rather than just over my shoulder. But I'm still wary...

(My apologies for the hijack)
I thought I would also suggest about carrying a wristlet, which is what I have.
You can get them different sizes, but it's basically a small zippered pocket that is attached to a sturdy band that you slip over your wrist.

I love using mine, especially when shopping because it's always on my wrist and I don't have to worry about someone coming up and picking it up out of my cart or if I have my hands full I don't have to worry about my strap slipping off.

I actually bought mine through etsy.com from a lady who sews them handmade and she puts really nice, sturdy, wide bands on hers.
I think I paid *around* $12.00 or so for it.
 

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My grandmother swore by the envelope system. I have never used it. I probably should. When my sister lived with my grandmother she used it and was able to save $2000.00 in less than a year. I thought that was pretty good for someone who made $7.75 an hour. That was quite a few years ago and I can't remember how much credit my sister had. She was able to pay that off too. I believe it was around $1000.00.
 

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Discussion Starter #14
Well, I used the envelope system for the first time today and can already say that it most definitely did make a difference!

I was much more conscious of the prices of things that I was buying and also wanted to save as much cash as I could so I can see how much of it I can have left at the end of the month. :)

So ... for it being day #1, so far, so good! *lol*

~*Jen*~
 
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