Tell me about the envelope system

[Shmily1]

I will be starting this on the next payday that is coming really soon so I've been working on the budget today to get ready. I called the cellphone company and cancelled the push to talk since we rarely use it, call the insurance co to get DD17 a good student discount (DS18 already had it showing for him), and called my highest APR credit card and got them to reduce the interest rate abobut 65%!!! I had such a great time doing all that I may try calling some more tomorrow!!!

I need to be saving money.... my car had to go to the shop and they said it will probably cost atleast $600. Not exactly how I wanted to start off my budget but I guess there's nothing like starting in the fire!!!

 

[Irin997]

I will be starting this on the next payday that is coming really soon so I've been working on the budget today to get ready. I called the cellphone company and cancelled the push to talk since we rarely use it, call the insurance co to get DD17 a good student discount (DS18 already had it showing for him), and called my highest APR credit card and got them to reduce the interest rate abobut 65%!!! I had such a great time doing all that I may try calling some more tomorrow!!!

I need to be saving money.... my car had to go to the shop and they said it will probably cost atleast $600. Not exactly how I wanted to start off my budget but I guess there's nothing like starting in the fire!!!

Good for you! I'm about to make my second withdrawal for my envelopes. I've found that things are going really well, however I have had to use my card in situations that are not regularly budgeted for such as an oil change last week and a haircut this week. BUT the whole reason I started this was to get my grocery spending under control. And it's working!!

However, I have a big budget buster coming up. Just went through DD's pants and she has NONE. They are all too short and/or have holes in the knees. So we're going shopping this weekend.

As far as saving money, I have $50 automatically taken from my paycheck and deposited into a savings account. Plus I have a weekly transfer on Thursdays for $30 going to my savings. If it's not there on the weekend I can't spend it. So far this month, I've saved $220 and on Tues it will be $270!!! In one month!!!

 

[Shmily1]

At payday this week, I put $100 in DD17's account and told her that was all there was--when it's gone, it's gone!! She almost panicked!! DH also gives her $20 out of each of his paydays. She's use to getting money here and there and unlimited gas for her car (that I also pay for). I explained to her it was for her lunches at school, gas, and other things she needed for the next two weeks. She said, "it will never work". So far, all she bought was a full tank of gas for $46. She's been taking lunch to school most days and wanted to go get her eybrows waxed until she asked me for money and I told her I had just given her $100--go to the ATM. She decided plucking would work just fine for her!!!

I bought groceries earlier this week and did really good. My bill was $138 but Ibought the family packs of meat so I could use them for several days. I haven't been back since and I'm so glad!!! I needed tin foil yesterday but I bought it with my ECB's from CVS!!! Actually I bought lots of stuff there for DS18 in college too and only spent .26 total in cash!!! Hopefully I can use stuff I have and not keep having to run to the grocery store so much. That's what really kills my budget!!!

I needed some new shorts since I had lost a little weight and needed them for this weekend's trip to WDW so I went to the store last night and got Vanderbilt shorts for $6.99 a pair!! That was a great deal!!!

 

[sherry7]

Great thread!

I'm reading the Dave Ramsey books right now, and I'm trying to set up a budget. The hard part is getting DH on board...he spends money like it grows on trees.