Divide your cash into envelopes

[Deleted User]

I'm defo gonna try this!

I get paid next Tuesday so I am gonna get on the hunt for some spare make up bags etc to use

Dxxx

missladyannie

Well i'm on week 2 of my envelopes, I think it was a fab idea, I ran out of money a few days before 'envelope day' this week, but as it was only a few days to go it didnt seem as bad. By now I would have usually spent all my wages, I feel so much more in control this way

mon1o

Hi!!!

My envelopes are working really well for me also! I get paid 23rd March and theres plenty left. its lovely to know that if i need petrol i have an allocated amount per month. im just at the start of week 2. spending money has taken a bit of a hit, but ill just have to pull back the rest of the month. I like the fact that its controlled, ie whats in there has to last until payday. theres no credit cards or overdraft to fall back on now!

i ended up going to wilkinsons and buying a pack of 5 cheque book sized plastic wallets (80p) and some adhesive labels. have labelled each envelope with what money is for (shopping, petrol, spending and then 1 transfer to current account and 1 transfer to savings in the case of any surplus at the end of the month) and how much is allocated to each.

creamcrackered

Hi,
I also use envelopes ! It is so nice paying buy cash.My Husbands gets paid monthly thats all bills,DD etc my wage which is half cash and half cheque,so cash is put into envelopes for fuel,food and spends.It works for me!

rising_from_the_ashes

missladyannie wrote: »

I ran out of money a few days before 'envelope day' this week, but as it was only a few days to go it didnt seem as bad. By now I would have usually spent all my wages, I feel so much more in control this way

That's bringing back memories - when I was paid weekly, I managed much better in many respects ... it may well have been that, as you say, when you run out it's only a few days until the next injection of cash rather than weeks on monthly pay! (by which time you need so much when you're finally paid, you go through it too quickly and end up the same the next month...)

stephanielouise_2

im going to try this, im awful for spending whatever cash is on me x

mon1o

stephanie honestly - i used to be awful! Had my wake up call a couple of weeks ago when the credit stream finally ran dry and am now converted! i used to spend on my debit card, use all my overdraft then use credit cards. just spent recklessly. partly out of necessity as dh was out of work at the beginning but then got into a habit and just got out of control. Now, this way i have control back and start my dmp in april.

its better with envelopes as you can physically see where your money is going and at what rate youre spending - a real eye opener. We are on month one and coupled with the programme "Super scrimpers" i think we'll be so much better off (and less stressed!) in the long term x

Sorry for going on! But seriously - at least try it. you wont regret it.

kaylz39

peachy05 wrote: »

Another useful tip I use, is to get some gift cards from supermarkets. I buy my petrol from one supermarket so I load my gift card at the start of every month with the amount of petrol I have budgeted for. Likewise with the shopping.

I don't know how this would work with petrol though because surely it's an essential? If you run out you cant just refuse to fill up because you haven't budgeted for it?

I tell myself this when it comes to shoes

Learning2Budget

How's everyone doing on this?
This had had to be the longest wait ever to get started. DH gets paid on Friday. I have jars, envelopes and purses on standby!!!! Oh how sad am i??
L2B.x

yorpington

LOL Learning2Budget I was the same before I started. Had everything ready except money :rotfl:

This has been working really well for us. Have always had a separate bills account but food, pet expenses, etc came out of my personal one and always seemed to run dry by the end of the month! Now we're a week from payday and I know exactly how much money I've got left over for each category. Love it :T