Hi People.
I’m considering starting envelope budgeting to better manage my finances and control spending. I’ve read about how this method works but am looking for some practical advice on getting started.
Can anyone share their experiences with envelope budgeting? How do you organize and allocate money into different envelopes, and what categories do you find most useful? Any tips on sticking to the budget and adjusting the system as needed would be greatly appreciated.
Thanks…
Hi,
Allocate cash to specific categories, stick to envelope limits, track spending, and adjust as needed. Consistency and discipline are key.
Just determine how much to put into each one every time you get paid. Make it a game. It’s a lot of fun. It also helps you maintain discipline because it is difficult to store into the categories.
I use the 17 buckets I have in Ally.
Things like travel, home, medicine, school, taxes, the outdoors, and family.
It’s yours. That’s where I put the money.
I also keep things in files and pay for things with cash, like bills, silly things, everything, etc.