Tuesday, January 22, 2013

enveloping

One of my resolutions this year was to make an honest effort in saving money. We have some silly debt that I want to be rid of once and for all. Thankfully, Pinterest has some amazing ideas on this (ok, seriously, how did we survive without pinterest!?).

I perused a few blogs and I came across multiple that said they were able to pay off their debts by doing a system called "enveloping". It's really simple: You fill out envelopes and on pay day you put cash into each one and use cash only. Once it's gone it's gone.

I'm going to try this this year, with a little twist. I will be paying all our bills (credit card, car, insurance, phone..etc) online because it's just so much easier. BUT for play money, gas money, food money I will be taking out the cash and using an envelope.

One blog I read suggested making a coupon organizer for yourself. I am just not that crafty, so I went to Wal-mart and bought one for $5.

It's a nice accordion style so you'll be able to see what you're using easily. It came with handy little tabs to label. You can easily write the tabs if you want, I happened to have return address labels that I used. I just went on and printed them out, cut them to size and attached to the tab.

The tabs I created are--

  • Family Play
  • Sarah Play
  • Gas Week 1
  • Gas Week 2
  • Food Week 1
  • Food Week 2
  • Gifts
  • Clothing
  • Store Cards (the loyalty cards, this way they are out of my wallet and in a convenient place)
  • Coupons (I'm not a huge coupon clipper, but every once in a while I will use them)
You can obviously change them to fit your needs. The point of this is to not use your cards and limit your spending with cash. Here's hoping it works for us!




1 comments:

Kmelanese said...

We do that. We only use our bank account to pay bills. Everything else is cash. Ours is a little harder since Ryan only gets paid once a month. That sucks!

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