Back on the Cash Wagon

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I created these envelopes to get myself back on track and following my cash only budget plan. The first photo shows a bank envelope and two that I made. I like the envelopes that I get at my bank but they are boring. I took apart a bank envelope and traced it onto thick scrapbook paper. I cut it out and folded it. The only glue needed for these envelopes is the tab across the bottom. You can see the flaps a little easier in the close up shot of my Christmas gift envelope. There is a slot for cash and also an extra flap that you can tuck your receipts into.  I do not record all of my spending but I like to keep track of my receipts so I can see what I am spending my money on and see where I can cut back when I need to save more.

This is the budget that I try to stick too every two weeks. I get paid on the 1st and the 15th of the month. Each time I get paid I withdraw $400 and divide it up as follows:

week #1 gas and groceries $100

week #1 flexible spending $100

week #2 gas and groceries $100

week #2 flexible spending $100

Christmas: anything extra

I don’t like to carry around a lot of cash so I only carry the current week’s envelopes with me.

Ideally when I’m out of cash, Im done. If I am careful this usually works. The past three times I got paid I did not pull out the cash and I thought I could follow my budget using my debit card, how wrong I was! I ended up getting charged three different times from my bank for overdrawing my account. I had to pay a total of $90. The sad thing is that I had the money, just in a different account. So I am back to the cash system. It has worked for me since July (5 months). I am obviously not ready for a debit card.

I will make a few more of my own envelopes and just change them out when they wear out or I get tired of them.

Please share any of your budgeting tips. We can all use new ideas. ❤

 

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8 thoughts on “Back on the Cash Wagon

  1. Reblogged this on Absent Musings and commented:
    We’re going to start using the cash envelope system (so I keep saying), but just can’t seem to get the money/bills flow coordinated yet.

    I pay most bills online, rarely write checks, and rarely carry cash. I juggle several bank accounts and have to wing it with my hubby’s spending.

    Mint is a tool I use because it consolidates all of our accounts, and I like the “trends” function, which shows where you’re actually spending.

    Liked by 1 person

  2. Well, I think that we have been so poor lately because I can’t work due to illness, and fh hasn’t been earning a lot. So we ate sandwiches for lunches, no coffee shops except on weekends, cook at home, buy meat in bulk, and complained a lot. We’re such babies. Now fh got a new job and more money and we’re hoping to keep to our current budget so we can save for the future. I like the envelope system but haven’t tried it. Think I might now😄

    Liked by 1 person

    • I am happy things are looking better for you and fh! Keeping your current budget is a great idea! I am a huge baby and my big sacrifices have been not going out to eat. We are worried the hubs will lose his teaching job next year so I am trying to save. Keep us posted how it goes for you and your family. ❤

      Liked by 1 person

  3. Budget? Wing and a prayer. I am lucky hubby is so good with money. He’s like my father that way. Me, I missed the boat. If I have cash, it’s spent. I have no control when it comes to spending. But I’m good at not spending when I have no money, or the account is really low.

    I do a budget when I have a payday, so I know where I WANT to spend it or save it, but then I go to the fabric store and all that goes out the window….I have a BIL and SIL that used the envelope system. Don’t know if they still do, but it helped them with their financial woes and now they have a beautiful house in a great neighborhood and are doing well financially.

    Best of luck to you Angie! Finances are a struggle and challenge, but you seem to be on the right track!

    Liked by 1 person

    • Finances are a struggle for me. Luckily the hubs is great with money and our major bills always get paid on time because of him. It’s my personal bills that I have to worry about and I avoid. The envelope system works for me but I have to beware when I am in a craft store.

      Liked by 1 person

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