![]() ![]() When I hear people telling me that they tried the cash system, it didn’t work, yet they are still struggling financially, I tell them this: It’s not the cash envelope method that failed it’s you. Without proper planning and dedication, cash envelopes are not the most effective way of tracking expenses, which is why many people struggle with this financial tool. This is often due to the lack of consistency required if users do not dedicate themselves to faithfully adhering to cash-only purchases, it becomes challenging to stay organized and adequately allocate funds.Īdditionally, cash can easily be spent impulsively, which is not ideal for budgeting purposes and will only lead to failure when attempting this system. Many people struggle to use the cash envelope system for budgeting successfully. You make envelopes for categories that you can control or that are problematic. ![]() The good thing about the cash envelope system is that you don’t have to make categories for EVERY category on your budget. To help you understand more about categories, continue reading because I will show you more details below. ![]() Of course, we hope to save even more this month, but we shall see. This is important because, to be honest, we enjoyed our No Spending Month in January and used cash for many things. Of course, these are just samples of the cash envelope categories you can have, and as I always say, these should be categories that reflect you and your budget.įor February, we decided to take on a new challenge, and this time we are doing the Cash Envelope Challenge.įor February, we are using more cash envelopes and sticking to them. What are the categories of cash envelopes? I pay my bills online and have categories that we use cash only. The real world is not about paying for everything in cash. If you doubt the cash method, stop! Cash works, and you can make this work for you and your family. To make this fun, I created different money envelopes and Valentine’s Day envelopes to use this month. This year I encouraged my readers and subscribers to challenge themselves if they are not using cash envelopes and start immediately. In January, we saved $541 thanks to using cash! Using cash helps us save money, and because this is a primary focus, we decided to go back to using cash envelopes and growing our savings. So instead, we swipe our cards and spend more money. We don’t enjoy using cash envelopes because it is not convenient. They help us save money and stay focused. We have made this clear in posts, but guess what?Ĭash envelopes work. In late 2018, we decided to change our financial game, including using cash envelopes. We used the cash methods at the beginning of our financial journey. Best of all, you’ll also find that you have fewer impulse buys and work even harder to stay within your budget by couponing or looking for other ways to save money. You’ll be surprised at how much less money you spend. Give it a try and see how it works for you. The cash envelope system is a great way to ensure you stick to your budget. Rolling the money to the next pay period helps ensure that you have more money for those extras. We all have months when we’ll need to spend more than usual.įor example, when the holidays roll around, you’ll more than likely spend more money on groceries. It’s always a good idea to roll that money into the next pay period. People often ask what you should do with the money you have left over. ![]()
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