Divide your cash into envelopes

Mrs_Z

I've been doing this for years but instead of envelopes, I just withdraw the weekly amount in cash once a week either Friday or Saturday, ie. on the payday put aside money for all bills and savings and what's left divide either 4/5 weeks depending on the month.

Years and years ago I used to work in a shop were we got paid cash every Saturday and I was always able to make the money last until the next payday, or if I run out, it'd be only a couple of days before. That all changed when I got an office job and went into monthly wage, 2 weeks prior to the payday I was running low on funds - so that's how I resolved it - it's a brilliant system - like having a payday every week!

x0emz0x

I will definately try this - I'm terrible with handling my money! I do have seperate savings accounts for this reason, but I always end up transferring the money back out for spending. I get paid a week tomorrow, so shall see how it goes!

elaine12022

Had a reply re naming accounts - there's a limit to how many characters you can have in an account name(12 if I remember right) , part of which is your actual name I think , so I think I'm left with 2 spare characters! HSBC messaged me to tell me that & just to let them know what I wanted to call the account, so should be easy once I figure it out.

Sunshine22_2

Hi all

I've just stumbled across this thread and might be a bit excited about it! I used to get paid weekly and worked well on that, but everything has moved to monthly I am now one of those annoying people that can't do anything after the middle of the month as its 'not yet payday'!!

I'm going to run mine from the 1st of the month (as I get paid on a variable day at the end of the previous month).

How well has everyone done with rolling money over? I might have to hand my left over money (pma!) to the OH as he is very disciplined and can put them on a high shelf out of my reach!!

Thanks for the suggestion!

ruby_eskimo

I am someone else who uses the envelope app but I also use a weekly budget one as well so I can see exactly what I spend my surplus on. This way I can curb my spending by realising that half of my money goes on things I don't need. I also have separate savings accounts across 2 banks. Natwest also allow you to set savings goals on your accounts and it tells you how much you need to put away each month to reach your goals. I have one for my house deposit savings and another for the wedding fund.

Angel84

I've done this for 2 week's now and for the first time in a long time actually put money back into my bank account. :T:T:T
I'm so pleased that finally I can see where my money is and have realised that I don't actually need to be spending as much as I am but not realising by just handing over my debit card all the time.

Learning2Budget

have decided i should be doing this with my spends money as well as food shop. Been very disciplined with food shop but have blown most of my spends :-( .
must try harder.x

Learning2Budget

payday tomorrow....well i suppose today really. Envelopes at the ready, remembering to budget for a 5 week month this time :-)
L2B.x

missladyannie

My envelopes all went to pot last month :-( My own fault really for not being disciplined and dipping into them early, however it will be a different story on 24 April where I will be much more stricter with myself!!

Sunshine22_2

Hi all

How is everyone getting on? I am on a strict £20 a week budget :eek: (with the only exception being petrol) as am now obsessed with paying debts!

May is going to be a tough 5 week month, but I've just sorted out my envelopes, sealed them and put them in the cupboard. Had to go to Mr T's this morning so that was £14 of the budget gone, £6 to last me until next Friday

S x