Cash Envelope Budgeting

12 Oct

Budgeting, the thing I haven’t even remotely gotten a hang of! It’s so difficult too when you have an irregular income. I actually saw a post on how to do it on Dave Ramsey’s site, but to be totally honest with you haven’t even remotely put it into place! I won’t be lying if I said we’re at a total lost with this whole budgeting thing but I’m TRYING, I’ve made up the simplest system I could think of and that’s just an Income and Expense column (in Excel) to literally say what we’re budgeting for which expenses for the month, so far I’ve been doing ok with it, but when we get an extra income source and it disappears in the same weekend and we have no clue to where you realise you definitely have a problem!

What do you have in place and how do you budget? Do you have a budget template that you’d like to share with us or even some tips and tricks to financial budgeting freedom?

I’ve come across the cash envelope system which basically you get paid let’s say $2000 for the month, you budget it accordingly into envelopes $500 rent, $200 groceries, $500 car loan, etc. and basically when the envelope is empty that’s it! No more to spend, it’s supposed to help in our society today where swiping a card is much easier and tells us we have more, however, for some reason psychologically it’s very difficult to spend cash and you’re a little bit more cautious with it.

I found these two great envelope templates online on Tip Junkie, one that is from Tip Junkie itself and one from Kelleigh Ratzlaff! Both are great, I’ve printed both to see which I prefer I’ll update if I even do start to use it or if it was just a total flop!

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