Dave Ramsey Help!

[Kate and Pete]

So, I bought and read TMM - but there was nothing in there about the envelope system....where do I find that info.? In another book?

Also, are any of you online members of his site? I'm wondering if the budget planning materials that can only be accessed by members are worth the $10/month...

Fortunately, I already have baby step one done - so now I just have to figure out how to get that snowball rolling!

 

[Pumba's Truth]

So, I bought and read TMM - but there was nothing in there about the envelope system....where do I find that info.? In another book?

Also, are any of you online members of his site? I'm wondering if the budget planning materials that can only be accessed by members are worth the $10/month...

Fortunately, I already have baby step one done - so now I just have to figure out how to get that snowball rolling!

I'm not overly familiar with Dave Ramsey but by the sounds of it the envelope system is similar to a jar system by Gail Vaz-Oxlade and there are a number of FREE resources over there.

The DW and I have learnt a lot from her TV show Til Debt do us Part

HTH

 

[DawnM]

LivingLikeNoOneElse.com is a Dave Ramsey forum for FREE! Great folks over there and great resources.

Do you have a budget set up?

Dave recommends taking out CASH when you get your paycheck, for things like groceries, entertainment, gas, and anything you pay when you go for. Write the fund on the front of each envelope and "fund" it with the money you budgeted for. When the money is gone, you are finished spending!

I am actually looking at making a cloth envelope wallet soon.

Dawn

 

[ccgirl]

I would use the free resources a PP mentioned. I think it is ironic to pay money to help get you out of debt. Spend the $10 a month towards a debt.

 

[bumbershoot]

LivingLikeNoOneElse.com is a Dave Ramsey forum for FREE! Great folks over there and great resources.

I am actually looking at making a cloth envelope wallet soon.

Dawn

Absolutely go to that site! After a month or so of typing that in, I realized that llnoe.com worked too.

I keep trying to figure out the perfect cloth envelope wallet...I keep the change segregated in each correct compartment, so I need zippers...someday I'll cobble something together. When you make yours, post it, please?



Good luck OP! Congrats for getting BS1 done!

 

[GetGlowing]

You can purchase an envelope system to use (several envelopes bound into a wallet) or simply use your own.

I have some of the loose DR envelopes that I've reinforced with clear packing tape and they've held up well since I did that. But any ol' envelope will do.

The envelopes are a way to separate cash that you have allocated for different reasons. We use three envelopes: Groceries, "Date Night" (for hubby and me), and my blow money. We use our debit card for gas, but some keep a cash envelope. You might use another for clothes, or for lunch money, or entertainment, or anything that's a regular expense that you'd pay out of pocket. We refill our grocery and blow money envelopes twice a month because that's how often my husband is paid. If you're paid weekly you might fund them weekly, or if you have trouble with spending all the money at the beginning and not having enough to grocery shop at the end of the two week period you might just add cash every week. And if the money isn't in the envelope, you can't buy anything!

I also have "virtual" envelopes, or some also call them sinking funds, in my savings account. For example, a friend of mine used to keep an actual envelope for her car insurance -- she paid it twice a year but she'd put some cash in there every month so she had enough at the end of six months to pay the bill. We do the same thing but within our savings account. I use the YNAB software to keep track, or I've also used a spreadsheet in the past.

I hope I haven't confused you. I'm happy to answer any DR questions. We're debt-free, house and all, are graduates of FPU and have also taught the class a couple times. I'm a Dave Ramsey disciple.

 

[TigerTown]

Another big Dave fan here! We made our own envelope system as well. We just use the old "granny" white envelopes with hand written labels on them. We never paid the monthly fee to join the website because i thought it was dumb to pay a monthly fee to help get out of debt while we were getting out of debt. As the previous poster mentioned we just put what we would have spent on the monthly fee back into the debt snowball.

I can happily say that after two years we have now paid off everything except the house and are working on the kid’s college fund. The system is extremely simple and really works if you write down the budget and stick to it!

 

[Mickey1Fan]

Another Gail Vaz-Oxlade fan. Easy interactive work sheets spell it all out and best of all they are free.


http://www.gailvazoxlade.com/resources.html

 

[TnTWalter]

Dave Ramsey has tons of forms FREE in the back of the book and on his website.

Here's info about the evelope budget system.

http://www.daveramsey.com/article/dave-ramseys-envelope-system/lifeandmoney_budgeting/