1/3/2024 0 Comments Diy cash envelope system![]() ![]() Easy to set-up: What could be easier than writing a label and dollar amount on the outside of an envelope and that’s all the money you get.Control of Spending: When the cash is out, it’s out.Are we throwing it at debt? Are we adding to our vacation fund? Saving for a new car? Sinking fund? Emergency fund? Cash Envelope Budgeting Pros and Cons The Benefits The end of the money is also where we decide how we are going to allocate any unspent cash. Investing in a great coffee thermos and more. This realization led to me making more deliberate choices about being better prepared with snacks on hand. The first two months after starting this, I couldn’t believe how quickly we were spending money from out coffee/eating out envelope. Once you know where your money went, that can then be the jumping off place to see where you can start tightening the belt. ![]() Step Five: Evaluate Your Spending at the End of Every Month. Fits perfectly in a standard sized envelope, personal planner or long wallet! Grab these super simple to use Cash Budget Spending trackers. When you look back over your month and wonder, “Where did my money go?” You can look back and see exactly where you’re money went! With that being said, that doesn’t mean there isn’t room for improvement in your budget. The beauty of this cash-only system is that it helps you eliminate overspending. In my house, I have the envelope for the month tucked away in my house, but I only carry the weeks budget for each category in my wallet. I am a HUGE fan of having a weekly budget! Chances are if you are having to exert this much control over your spending habits to adopt a cash budget, then it’s going to be hard for you to keep a month’s worth of cash from disappearing before the month is out. Step Three: Divide Your Cash into weekly Envelopes for the month. Medicine/ Medical (prescriptions or co-pays). ![]() Fun Money (an allowance for you to blow on whatever). ![]()
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