Now I've heard of this before, but now we're finally going to start doing it. It is really going to help us stick to our budget. Basically, it's up to you what items in the budget you want to use this system for. For us, we're going to have separate envelopes for Food, Clothing, and Eating Out/Dates. Each month we'll put the budgeted amount into each envelope. When the money runs out, so do our shopping trips! For clothing, we have such a small amount budgeted that it really doesn't amount to any single item each month, but we will keep putting money into it each month until we're ready to purchase something. Same goes with Eating Out/Dates. If we don't go out as much, we can save it for bigger outings that we want to go on and then we won't have to feel guilty. It will be hard earned, saved money! This is also a great way to avoid arguments. You've already agreed on the budget, and if you only spend money from your envelope you'll never hear the words, "You seriously bought more clothes/shoes/food!?!?" again!
I am especially excited for the envelopes so I can save up money on clothes and not feel guilty to buy things (I'm in need of a long winter coat! I'm thinking of saving up and waiting until Spring when they go on sale!) This will also really help our grocery budget. I love cooking, but sometimes I think I can go overboard. I had no idea how much money I was spending on groceries until Michael did the math the other day - YIKES!
Pick what makes sense for you. Obviously putting cash into an envelope for the water bill doesn't make sense. For us, Food, Clothing, Eating Out/Dates will help us keep control of our money and will lead to less guilt & more fun!
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