Envelope Budgeting System – Short Over All View

Heard of the Envelope budgeting system? This system has been around for a while now.

If you’re looking for a new way to help budget your money you came to the right place. Give the envelope budgeting system a try it may work for you. 

envelope budgeting

A Short Breakdown on Envelope Budgeting

First figure out how much money you have after you pay bills, savings and other investments. Make a list of your expenses (Groceries, entertainment, clothes, eating out). 

Use cash for those purchases. Get some envelopes and label them. You can also buy them already labeled. Decide how much you want to spend in each of those categories and place the money inside.

Every time you get paid do it again. Any money you have still left in the envelopes by next payday you have a few choices. Add the extra in your savings, save it for something you really want, Holidays or gifts. Add to your emergency fund because you never know when a flat tire will arise.

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I’m interested to know if you tried this method out. If so how did it work for you? If you have any suggestions, thoughts, questions, anything just leave a comment below or email me.

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