My husband and I are going through Dave Ramsey's Financial Peace University. We are learning so much and we will be changing how we do things financially. I am pretty excited! So I made this my Monday Made It.
I found a quick and easy template and tutorial from Kelleigh Ratzlaff Designs' website.
Dave Ramsey advocates using a cash envelope system for specific parts of your budget. You can see his envelopes and wallet HERE. The kit we bought for the class has these envelopes. My husband will be using this envelope for our Restaurant, his Clothing , Dry Cleaning, Entertainment and Fun Money envelopes.
I wanted my envelopes to be "prettier" than those. I am also not going to write on my envelopes. When I pay for something with the cash in the envelope, I will put the receipt inside. That way when I go to refill the envelope, I can take out the receipts and reconcile our budget. I also want to keep track of how I am spending the cash. I am so tired of spending money and then wondering where it went. Does that happen to you?
These are my envelopes. We have a category for money I can spend on my classroom, so I will add that to my fun money envelope. I have purposefully not kept track of my classroom spending because I know it is way too much! Stopping by Walgreens for a few things and spending $15 doesn't sound like a problem, but when you do that once a week... Then there are the Target trips for rewards. And the Dollar Tree. This isn't even counting the beginning of the year fun stuff that I buy.
I hope I am not the only one with this problem.
I wanted my envelopes to be front and center in my wallet. This way I have a constant reminder to stay on track. I have to move my envelopes to get to my debit card. :) Sounds like a good plan to me.
We will still use our debit cards for gas, medications, and doctor visits. We have figured out, in the past, that we are better about staying within our budget if we use mostly cash.
How do you stay within your budget?