Friday, February 19, 2016

The Envelope System Review

The envelope system does not work for me.  I've tried it several times. My tendency is to rob Peter to pay Paul. Having cash at my fingertips is not good for me. 

What type of system do you use?  Is it easy for you to stay on track?


  1. I have a different system. We use credit cards (for rewards) for almost every purchase. I rarely, rarely have cash. We pay off the credit cards at the end of each month, so wouldn't recommend unless this was an option.

    I enter each transaction (groceries, gas, etc) into my budget tracker when I get home from errands, and keep track of my totals that way

  2. I have a checking account which has the month's in it...this is for EVERYTHING...bills, groceries, clothing, Christmas, birthdays, car, dentist, lessons eye doctor...all spending. A set amount goes in each month. I keep about $200 cash from it in my wallet. I charge pretty much everything on my card, and the card gets paid in full at the end of the month from that account. I always have an idea of how much is in there. If it goes above a set amount, overages get transferred to various savings, and is only touched for real estate. Under a certain amount, I stop spending. I have used this method since I graduated from college, and it serves us well.

    1. That sounds like a really good idea. Hmmmmmm gives me something to consider. Thanks!