I have used the envelope method for over 40 years and I love it.
Sometimes when I fund something and pay it off, I just keep adding the money to the envelope anyway.
A few weeks ago I paid off my car, but I keep funding that envelope. I also have what I call my "ridge" money. That was some land I had been making payments on, but have since paid off.
so, I have $760 to add to my challenge money.
Prev. total $9022.00
today 760.00
new total $9782.00
Cleaned out the envelopes again
May 8th, 2008 at 03:01 pm
May 9th, 2008 at 05:54 pm 1210355698
Here's how I am doing my $20 Challenge. I have a budgetmap register I use with my reward checking account, which pays 6.01%. Like envelopes, each column represents a category that I allocate money to. Then, by month's end, like you, Julie, I am going to take the remaining $$$ and transfer it to the Challenge column. As long as I use my debit card the required number of times - believe me, with groceries and fuel, it's easy enough - then I get the 6.01%.
Thanks, *Miss* Julie!! You're the best!