Wednesday, January 20, 2010

Quick Budgeting Idea with Envelopes

So this is a quick and easy budgeting tip if you haven't started. Take your paycheck and split it into envelopes. You can use real cash or since that's not super safe having tons of cash lying around write the amounts down on the envelopes. So for instance:

Envelope 1: Mortgage $X
Envelope 2: Groceries $X
Envelope 3: Fun Stuff $X

You get the drift. So you set aside from each paycheck the money you need for all your expenses, savings and then fun extras. You can only spend the designated amount in that envelope so when it's gone you're done!

1 comment:

  1. I feel like fun stuff should be real money, and that way you just use that one, the rest is for the necessities like food and shelter. Then, yea, just suck it up, if it's done, it's done. Kind of elementary, but really to the point!

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