Has anyone found a better way to do envelopes than carrying around a bunch of cash?

Hey guys, I think this is a great idea in theory, and I understand the psychological anguish of giving someone money, but who can really pull this off in real life? I am having problems, therefore I would love to hear how you do it.

Hello ThriftySaver!

It seems like you’re looking for practical advice on managing finances.

It’s indeed challenging to balance between saving and spending, especially when it comes to giving money to others.

Here are a few strategies that might help:

  1. Budgeting: Start by creating a detailed budget. Allocate a specific portion of your income for savings, necessities, and discretionary spending. This can help you understand where your money is going and make necessary adjustments.

  2. Emergency Fund: Try to build an emergency fund. This can provide a financial safety net and reduce the stress of unexpected expenses.

  3. Giving: If you’re inclined to give money to others, consider setting aside a specific amount each month for this purpose. Treat it as another budget category.

  4. Financial Goals: Set clear financial goals. Whether it’s saving for a vacation, buying a house, or investing in retirement, having a goal can motivate you to save.

  5. Professional Advice: Consider seeking advice from a financial advisor. They can provide personalized strategies based on your financial situation and goals.

Remember, everyone’s financial situation is unique, so what works for one person might not work for another. It’s important to find a strategy that fits your lifestyle and goals.

Hope this helps!

If you’re looking for a more convenient way to handle money without carrying cash, there are several options available. Consider using a prepaid debit card or a mobile payment app like Apple Pay, Google Pay, or PayPal. These options allow you to load money onto the card or into the app and make payments electronically, avoiding the need for envelopes of cash. They’re widely accepted and offer security features like PIN protection or biometric authentication for peace of mind.