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New Method

August 24th, 2013 at 05:53 am

Every four weeks, when I get paid, I start off the pay period well by writing down what I've spent - then I start using my debit card for purchases and lose track. Well for this pay period I've decided to use the envelope method. However, I've just put all of the money budgeted for this pay period into the one envelope. It's not as crazy as it sounds, it's my food shopping money (£120), SG's nappies/misc (£40) and household items (£20) Therefore I won't be using my debit card for any of these purchases. I've been putting my receipts into the envelope too.

8 Responses to “New Method”

  1. creditcardfree Says:

    Sounds like a great plan and worth the try if other methods haven't worked for you.

  2. North Georgia Gal Says:

    I hope this method works for you!

  3. ceejay74 Says:

    Way to go trying a drastically new method. I hope this one works for you! Sometimes it does take trial and error to settle on what's best for us.

  4. Maranatha Says:

    I hope this method works out well for you!

  5. Kiki Says:

    I do that too but i use different envelopes so that i don't mix the funds. One for grocery spending, entertainment and one for gas/parking. When i started 10 years ago it made a huge difference. When there is left over koney it all get put into my vacation savings account or savings for something else i want.

  6. imarunner Says:

    i need to get back to the envelope system. i was doing this waaaay before dave ramsey mentioned in. when i first started working i didn't have a checking account so i would put my money in envelopes.

  7. rob62521 Says:

    Sounds like s great plan.

  8. Wino Says:

    I think a smart phone and some dedication would be safer than the envelope system. I am a large man (over 6' and 200#), and I would not feel comfortable with more than $100 on me at any given time (not counting my emergency $100 that I keep hidden in my wallet).

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