Ask:
Does anyone use this?
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DH & I are NOT GOOD with cash. I just goes away and we have trouble tracking it. We do however use a version of the envelope system that I have modified for use with debit cards.
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I tried it, it didn't well too well for us either. Whats working so far for us is buying gift cards for the grocery store. It really helps us with our food budget.
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I just started one for my hair. I like to get it highlighted and I think missing a few bucks a week until the next appt. will be less of a dent in our budget than the whole thing at once. I really think this will work.
I also do it for my one dog who I have to groom. It really helps b/c these things always fall on a bad week.
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I just asked this same ? a couple weeks ago.. Here's my thread in case you want to read...
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I have not tried this. but an going to give it a try the end of the month. DH only gets paid once a month. I have trouble not spending all the money in the first part of the month Of anyone has some helpful hints, I would love to hear them!
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How funny, I was just going to post the same thing. Dh & I have come up with a weekly budget for household expenses & are going to try this starting today. I am excited because I think it will help us save alot! My ? how many envelopes do you use? As we were going about our usuall Sat habits I started thinking about eating out, renting movies, medicines (do they come out of grocery money?) etc...
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My DH & I have tried the envelope system before. We are currently doing this right now, but it hasn't worked out very great. We started our envelopes when we got our tax refund but it seems to be gone before we can refill them. We have some good friends that this works very well for-the wife really monitors it. I wish that I could say that I do a good job of monitoring it but I am guilty of making those impulse buys! It's very frustrating!! Does anyone else have the same problem?
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I started this system a couple of months ago...we don't actually use envelopes but an excel spreadsheet with the total in the (envelope) at the top of each column and then type in every time something is spent and it electronically deletes that amount for you. I know it's not the same as having cash in hand for some, but I don't feel comfortable having that much actual cash on hand.
I only have 3 categories. Food, Fuel and misc. on my spreadsheet I write in the column next to the amount what it was for so it helps me separate out the Misc. more if need be.
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Originally Posted by Beachbond
I have not tried this. but an going to give it a try the end of the month. DH only gets paid once a month. I have trouble not spending all the money in the first part of the month Of anyone has some helpful hints, I would love to hear them!
We only get paid once a month too. At first it was rough, now I really like it. I pay the bills, pay savings & put $ in envelopes: one for groceries, one for haircuts, one for gas & one for entertainment. I keep a declining balance on the outside of the envelope so I know what I spent the $ on & how much is still in there. I use an excel sheet to make a budget. HTH, pm me if you ahve any questions!