Comments on: A Way To Control Spending: The Envelope System

By: steve in w ma

steve in w ma — Sun, 23 Aug 2009 09:36:30 +0000

Here’s how I handle it. It’s not really a problem if you do it this way:

If I decide to go shopping without my envelopes, once I get home I pull the amount of money I spent into an envelope devoted to repaying my VISA purchases(which is what I use in preference to a debit card).

That way the cash envelope gets adjusted down, so I’m still working the system and can’t lie to myself about how much money I have left to spend, and the visa bill has money waiting for it when it comes due.

By: 5 Steps to Making Your Budget Work | beingfrugal.net

5 Steps to Making Your Budget Work | beingfrugal.net — Wed, 22 Jul 2009 11:03:08 +0000

[...] hint: Use envelopes to budget for the items that are difficult to track, such as groceries, eating out and gasoline. Label the [...]

By: Debt Free Addicts Anonymous #2: Budgeting Tips Edition | Enemy of Debt

Debt Free Addicts Anonymous #2: Budgeting Tips Edition | Enemy of Debt — Sat, 06 Jun 2009 18:53:07 +0000

[...] A Way To Control Spending: The Envelope System – written by Peter over at Bible Money Matters. I believe strongly in the envelope system and like this article very much. The envelope system really works to control impulse spending, as well as make managing your checkbook so much easier. On a perfect month we only pay our main bills using online bill pay and fund our envelopes for the rest. When we do it, it works. [...]

By: Counting My Pennies » Carnival of Pecuniary Delights #10 - Summer Storm Edition

Thu, 04 Jun 2009 10:03:23 +0000

[...] Peter from Bible Money Matters recommends A Way To Control Spending: The Envelope System. [...]

By: The Geared Investor

The Geared Investor — Sat, 07 Mar 2009 21:25:48 +0000

Great Idea, We've been doing really well with saving money without the envelope method, but I bet we could do even better with it. I think we do the best job of not eating at restaurants when it's not a semi-special occasion. I have mostly been using my iCal on my mac and just tracking past and future expenses based on their dates. Great article! The Geared Investors last blog post..Great Article Explaining Options and Benefits When Investing in Currency ETFs

By: The cash envelope system? Any fans? - Page 4 - Wise Bread Forums

The cash envelope system? Any fans? - Page 4 - Wise Bread Forums — Tue, 24 Feb 2009 18:06:32 +0000

[...] doing this as well! I did a post about the envelope system of budgeting on my blog: A Way to Control Spending: Envelope Budgeting __________________ Bible Money Matters | Money Life Network | Follow me on [...]

By: Peter

Peter — Mon, 16 Feb 2009 04:02:27 +0000

You just have to stop making as many “oh i’m on my way home so i’ll just stop” type trips. I know I do that alot, and it does tend to mess things up. If we do that, when I get home I’ll grab the money from the envelopes, and deposit it back in my account the next day (or at least that week.)

By: john

john — Sun, 15 Feb 2009 19:31:04 +0000

We cannot make the envelope system work. Maybe we’re trying too hard to keep track. But often, my wife or I will stop and pick up groceries, household items, etc. We don’t have the envelopes with us. Then we loose track. This happened several months in a row and we finally gave up.

How does anyone make the practical parts of this work?

By: Peter

Peter — Wed, 14 Jan 2009 17:19:49 +0000

We’ve got that “allowance” or “blow money” built into the budget too. so now i don’t have to explain that new gadget – or video game!

By: Kathrn

Kathrn — Wed, 14 Jan 2009 16:57:32 +0000

I have known about the envelope system since my college days back in 1979!! I learned about it though a friends who was involved with Campus Crusade for Christ. Its how they were taught to budget their money, so that they would not waste the money of the people who supported them. Its called being a good steward of the money that we are blessed with.

It works and after awhile we just got use to paying cash for groceries and gas and we learned to budget all the time. Now we just use Quicken (our virtual enevelope) to track everything. My husband and I get a monthly allowance to spend as we want…no questions. I don’t have to explain the $4.00 latte and he doesn’t have to explain the new tool for his workshop.