Tuesday, April 20, 2010

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Cash envelopes - Part 2

I was talking to my sister yesterday about using the cash envelope system. Previously I'd written about the actual envelopes themselves and not about the system. So today I'm going to go over the system. I've also included some informative links at the bottom of the page and even a video.

  • First make a budget. I have a spreadsheet I made (which I'll upload soon) where I enter my monthly allocations.
  • Once you've allocated all your incoming finances for the month, withdraw enough money for the week and put it in the proper envelopes.
  • If self-disciple and self-control are an issue, write scripture verses on the envelopes to keep accountable to yourself and to God.
  • During the week, keep tack of how much money is left in each envelope and spend accordingly.
  • When the money is gone it's gone! Don't pull from another envelope or you will shoot yourself in the foot. If you get tempted to take from another envelope, read the scripture verses on your envelopes.



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