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We went to envelope budgeting with cash! It is amazing how much better I feel and how much more in control. I still pay nearly every bill online to save stamps, but money for everything else (groceries, gas, etc.) gets pulled out. DH suuuucks at managing money, and this is keeping him from using his debit card and then forgetting to tell me. The difference is huge! I just wanted to share because I knew you would understand my excitement.
That is awesome!!! Our life has been so much better since we switched to envelope budgeting. We don't fight, at all, about money, and we always have enough to get everything we need and some of what we want.
~Beth~ Wife to my Airman Chris, and mommy to: Anthony Nathaniel (8/31/04), Anastasia Fae (8/01/06), Baby C (lost on 10/12/07), David Cillian (7/31/08), Charles George (4/29/10), and Alan Christopher (2/22/12)
We did this for a short time to really "learn" how our money was being spent (we used glass mason jars, lol!) Eventually we went back to debit cards as DH preferred that but if it was up to me, I would keep doing it - it's such a better way to see your spending!!
Honestly, it just got down to us not having a choice. I've been wanting to do it for awhile, but kept putting it off. I am 100 percent in charge of our finances; he never even knows how much money is in the account. He spends money without even thinking about it (I knew this about him before I married him so I can't get too upset). The only way I can control the money going out of the account is to actually hand him cash so he can see how much he has left. He's a lot happier now, too.
I know you addressed your post to Beth, but I wanted to chime in and tell you GREAT JOB! We did envelope budgeting for awhile and it really does work wonders! Most people I know who have done it are really pleased with it.
Great job! We did it for a while to get our spending under control. Once we learned better habits, we went back to our AMEX to earn rewards. We earned $400 last year! I've been considering going back to envelopes though because I notice every other month we are spending a bit more than I'd like.
We also use our credit cards for almost everything we buy to earn the rewards! As soon as we get home, we go to our online banking and pay the amount on our credit card so that we still carry a zero balance all the time while earning the dividends You could combine the two ideas by still using your CC and then taking the cash out of the envelope to put on your card weekly or something.
I have been wanting to start doing it because I can view my bank online inntil im 18 so can soon but for now i never know unless i go and check it or call the bank
so im going to start this, sort it all out in the beginning of the month, rent - 6.500, bus-300,food-1/2000,etc
I think its a great way to really see where the money gets spend
Anniken - 20 years - Mama to 4 year old -student - Norway