Envelope System

Document created by aleesha_joy on May 20, 2016Last modified by amara.mastronardi@socialedgeconsulting.com on Dec 5, 2016
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Use a zero-based budget. This means that each dollar has a "place." If you have $300.00 left over after all your bills are paid each month, use the envelope system to put that "extra" money aside. I have several envelopes for various savings (i.e car repairs, vacation, clothing for kids, date nights, etc.) and the amount I put in those envelopes depends on the need, so obviously I would put more in the "car repair" envelope than in the "clothing" envelope, just so that I'm not hit with a huge expense if something should happen to my vehicle.

 

This has helped tremendously while I'm in school because my budget is very tight. I don't have much left over each month, so I make sure to always know where every penny is going. b7b7d88e896db088e504d4cf28dfefd5.jpg

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