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envelope method

January 3rd, 2008 at 05:13 pm

I have used the envelope method all my life. I just divide monthly bills up, intoo 4 weeks and put 1/4 away each Monday. Occasionaly, because there is an extra Monday in the month, my envelopes are over funded!!
I always add my extra electric money to the challenge each month.
Today, i am adding the extra cable tv money. For some reason that envelope hold about $50 more than I need to pay my cable tv bill, which is about $40 a month. So, I will add in the $50!
Prev. total $775.00
today 50.00
new total $825.00

Posted in $20 Challenge | 4 Comments »

4 Responses to “envelope method”

  1. Aleta Says:
    January 3rd, 2008 at 05:43 pm 1199382206
    1199382206

    Julie, do you literally cash a check and put all of the money into literal envelopes for all of your bills or do you leave some of the money in the bank for checks that need to be written.

    I use like an envelope system on paper. Each account has its own sheet and I just add and subtract as I spend it but it's in the bank. Now, I do use cash for groceries, beverages, household supplies, pet supplies, toiletries, birthday cards, and small purchases. That is interesting what you do and it must work because you're doing so well.

  2. Ima saver Says:
    January 3rd, 2008 at 09:32 pm 1199395936
    1199395936

    I started this before I ever had a checking account. I actually put the cash in all the envelopes. Then, I take it out and put it in checking when I paid the bills. I know it seems silly to do it that way, but it has always worked for me. I take $120 cash allowance a week and I use that for the small things like gas, liquor and misc.

  3. HelpMeFriend Says:
    January 22nd, 2008 at 12:02 am 1200960125
    1200960125

    I have envelopes that have all the information like date paid, ammount, and such written on the outside with the receipts inside. No cash ever makes it in there, since I never have any.

  4. matt Says:
    May 1st, 2009 at 05:27 pm 1241198873
    1241198873

    This is the best!!..would you post your budget?

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