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Budget with Envelope System

Credit cards have only been here since the middle of last century, for hundreds of years before it was cash, barter or credit balance payable at the end of each month in full (which most places don't do).

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Spending cash hurts! Swiping a credit/debit card doesn't. If you have a 100 bill, it hurts to break it, not so with a $100 in the bank, sometimes you can even spend more of it than you have, then incurring more fees!

Try the old standby, the envelope system, for the things you can pay cash for. Gas station maybe not, but the grocery store, eating out (ridiculously overpriced and bad for you), coffee drinks, entertainment, etc. Set a budget of what you think you spend, or track your spending for a month. You'll be surprised. And when you do use cash, you'll be surprise how much you don't need that extra large coffee, another pair of black shoes or those Ding Dongs "on sale" at the grocery store.

I'm so excited about the envelope system, and how it's changed how much we keep each month. I bought a super cute wallet for my birthday that is the "envelope" system and a wallet all in one!

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P.S. Please don't tell a frugal person your money woes if you spend it all before the next paycheck. Ask us for help, we might have some good ideas. No one makes you use that credit card or overdraw your bank account but YOU!

By Michawn from CA

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November 18, 20110 found this helpful

Try the old standby, the envelope system, for the things you can pay cash for. Gas station maybe not, but the grocery store, eating out (ridiculously overpriced and bad for you), coffee drinks, entertainment, etc.

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Why would you say this about the gas station? Most gas stations prefer customers that will pay in cash. In our local area, there are three gas stations that give rewards to people paying in cash. Check with your local gas station and see if they have a cash rewards club you can get into. It can save you 5 to 15 cents per dollar for every gallon you put in your vehicle.

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Organizing Bills and MailNovember 16, 2011
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