The Secret To Stop Overspending Order my book, "Know Yourself, Know Your Money"! bit.ly/2LIclKS Ramsey Solutions Privacy Policy: www.ramseysolutions.com/compa...
That's how I fed a family of 7 on less than the SNAP allowance for 1 person. Every day after school, all the children in the neighborhood hung out and snacked at our place. We ate heartily, healthily, and deliciously. Additionally, I built a frugal year's supply pantry with the surplus cash from my minuscule budget. I love playing this frugality game.
There’s a Canadian money person years ago she talked about Money jars for every category. You can take money from jar for another category but we couldn’t over spend. Any money left over went into a savings account. I did that and every month when I took what was left to the bank the tellers were all interested in what was left. By the end of a full year I had 3000 left over!!!
So wise. I live by : spend frugally day to do on the essentials, keep everything as low as possible…then you can spend intentionally in the areas of life that bring happiness and help you progress as a person or career path ❤spend where it matters to you so being frugal in all other areas is easy ❤
I just almost always order groceries for pickup- it forces me to remove stuff from my cart that goes over budget. The more I stay the heck out of stores altogether-the less I spend. Any time I can order online, I do it. I save & invest 30% of my income most months unless I have a home repair or it’s a major holiday. Cash never worked for me. I truly hate dealing with cash. I prefer every penny accounted for electronically & automatically.
@@liana2136 the nutrition facts labels are online, you just swipe left. it’s even faster than in the store. Also when you do an online order if the produce isn’t perfect or something is too close to an expiration date, you can just tap your phone & get your money back. You don’t need to return it. I’ve never saved so much money and time! in my life since I went completely digital. Every penny is accounted for and scrutinized. Cash would waste a lot of my precious time. To each his own though, whatever works!
Thanks Rachel. We were cash based when I was going through college, building the emergency fund, and saving a big down payment. We went back to debit once we moved in and I feel like I've been struggling with a few categories since. We need to get back to the envelopes!
And I have been doing a version of this for decades. And only pay in cold hard cash. Cashiers are puzzled since most people pay by credit card or debit card.
I saw my parents searching for the cheapest, on sale groceries, and they both died of cancer. I swore to get the best whole food I could find, first and foremost. I'll scrimp somewhere else. Good idea to plan ahead.
I try to do both, in a way. I go to stores where I can get the best price for the food I want. I save a lot of money because I buy healthy food, but I quit buying junk food. Snack foods such as cookies and chips and premade pizzas all cost. I can get 6 bananas for less than $2.00. I can buy a bag of apples for around $3.00. So when I cut my spending on junk, then I was able to afford healthier options.
Yes I’m recovering from EBV and my husband is type 1 diabetic, so an investment in food is in our health and that’s priceless. We shop at ALDIs so we can even get organic produce, grassfed meat, wildcaught fish there for a bargain. And we buy supplements and herbal tea which helps me feel better. I ordered black ginseng from Amazon and THAT has been therapeutic. Sometimes it’s worth spending money on even if it’s slower to reach some goals. It’s a trade off.
Since we live rural and do a good portion of shopping online (and for specialty items and bc some online places are cheaper than exact brand in stores) I have learned to treat the month's budget like a video game. When the points are gone they are gone. I have to keep myself within that limit or wait until next month to get it. The cash thing isn't enough to stop me from spending.
We do a lot of online ordering too. I've created digital envelopes by using different checking accounts for the major areas that we spend. This is especially helpful for making our larger bulk purchases for items like food or buying a quarter cow etc.
I put money in for the week, not the month. Every friday I put my next weeks cash in. I have to do that for eating out, grocery, and second hand stores.🌞
I totally agree! I’ve had your cash wallet for a few months now and it’s transformed how I spend money and my mindset on those easily over-spent categories. I love feeling so in control and feels great having easy accountability.
I love your wallets I bought the camel color one that one in the video about 2-3 years ago and just got the metallic blush one for my birthday 🙌 Loveeeee them Rachel!!
They sold you a wallet to cash budget. Which budget did this come out of? And you just bought a second. Back in the day, my parents used white envelopes with labels. This method may work but god forbid you lose it. With separate envelopes, you just grab the one you need and leave the others at home.
@@Galworld761so. The wallets are useful. Not everyone wants to use paper envelopes. I’ve done them and they got worn and had to replace them often. Eventually the cost and hassle wasn’t worth it to keep doing so.
I have never seen a wallet like that. Back in the '80s and '90s we used to have these old-fashioned budget envelopes. They were bound together in a little booklet and you titled each envelope and put the cash in them. Obviously I don't do that anymore but in the early 2000s I had to teach my mother how to budget. Which was really strange. And I just got her a bunch of regular envelopes and titled them and we would put the cash in them. (All the old binders I had fell apart long ago and I was using credit cards and spreadsheets by then) I remember the main time when I was overspending. I finally had like $50 a week to spend on myself and I was going out to lunch everyday and spending $5 and it finally occurred to me that if I stopped doing that I might be able to afford to buy things which would last longer like clothing... So I pretty much stopped doing that. Think I did it now and then but mostly I went back to the cafeteria at work.
I like what your “TEAM “ is doing - changing the attitude of people towards handling money especially attitude about spending … that debt is not good , that good relationship matters in building wealth.
I am a SAHM of three and one family car. Online shopping is waaaaaay easier but I do overspend. Better to just have a separate account for my spending to fix this. But I do see the envelope idea as a fix to not overspend my grocery budget.
You make it difficult to overspend by having only one card on the Amazon account that’s linked with the separate account. Once money is gone you’d have to add another card to spend more but that’s an extra step making it less likely to reach out your wallet and physically pull out another card.
That is such a great idea!!! I bought fake money from a dollar store and put it in 3 envelopes; -Beauty and clothes -Groceries - short-term savings ( if I want to buy something extra for the house, gifts, etc. But maybe when I put real money in my wallet I will be even more careful!!!
This helps a lot. It's old school bc everyone uses cards. But when you use card, psychology it hits you different than having cash in hand and actually taking it out of the wallet and handing it over.
Try and remember when Amazon crushed all the small businesses during covid and it might help you not want to buy so much on Amazon, that's what helps me
I agree. Legal tender has no inherent value these days, since it's not backed by precious metals. I'm buying stuff that holds value before the banks collapse and steal our deposits for their bail-in crimes.
What worked for me was to deplete my bank account of all expenses right after the money came in. So groceries, order your 1 month stock in bulk (you save a few pennies), now hold yourself accountable to eat that for the rest of the month. It’s easier to shove the food down your throat when you don’t like it compared to falling short of your goals, ever. Cmon! Show some restraint ya old badgers!
I like this idea. Thankfully we don’t have any cc debt but I notice I spend more when I use them so I have taken them out of my wallet and only use our bank card and paying cash and I’m more aware knowing I can only spend a certain amount. We have challenged ourselves for 2024 to add more to the emergency fund.
I love that wallet! I dont use cash very often but i do have certain cards for certain categories and this would help me remember which card to use and also to organize my receipts.
@cajbaf I'm aware. I've tried cash. It doesn't work for me. I lose track and my husband always forgets to keep receipts so its not worth fighting over. The cash strategy isn't a one size fits all. Regardless, I still like to organize and I have cards with rotating points categories. Being able to put the cards in the proper categories would help me use the one with the best benefits. I pay mine off in full several times a month so I never pay interest or fees.
My hesitation with carrying your entire month’s budget in cash is that it could get stolen or lost and you have no way to recoup that. At least if someone steals your money from a credit/debit card you have recourse.
I really like this idea! I’ve long been a debit card user because, let’s be honest, it’s not worth the effort to take out cash for, say, the gas station, when I’m spending $48.32 to fill my tank no matter what form or tender I use. But for things like clothing, cosmetics and toiletries, and snacks (maybe even groceries but it’s not the essentials but the extras that get me), this could work well. One question, though. What do you do if most of your spending on things like clothing is online? I buy a lot of my clothes on Poshmark and cash isn’t an option there.
Still not easy to keep track of everything. I prefer a spread sheet they I update at the end of every month by spending around an 1 hour to keep track of every penny properly. Then I revise my track and decide on what matters less based on accurate data if I need to save more. It also fixes your habits when you know your record well.
If government wasn't printing trillions of dollars every month out of thin air life would be different. People could actually afford groceries. We need to have a serious conversation about hyperinflation.
I need that wallet!!! And you're beautiful. You're skin and smile. I'm sorry I can't help it. Every time I watch your videos I just think wow she is really beautiful & flawless AND HUMBLE. God bless - have a great day
Even though I’m single I bulk buy or stock up…I hate if every check I need this I need that, so get it all at once and I’m good usually good for like 3 to 6 months and it helps those visits to cvs Walgreens etc where you go in for one thing and buy a bunch of stuff you didn’t need. Less visits equals less money for me personally. I sometimes visit a coupler who sells stuff and I can get most personal necessities at once and discounted. Also right now I’m doing a 52 week savings so each Friday I put aside 50 cash it’s not a lot no but what I can do while still adding to savings and 402k and it’ll add up at the end of the year and it’ll be my emergency fund. I’ve cut clothes buying and eating out the past 3 years.
I limited my credit card of 12000 CA $ limit to 500 CA$ limit . So I limit myself to 500 /2 weeks ! I check the balance every day ! So there is no room for clothes and extra useless things !
My problem with the envelope system is I just rob from the other envelopes.
me too! But I find it's okay as long as I stay within the month :)
I'd be afraid I'd do that too!
but she needs no budget her Dad is rich her net worth is 3 million
@@davidhale4647 You're new here, aren't you? 😉If she relied on that fact, those 3 mil would evaporate like a lottery windfall.
@@davidhale4647 Yes her DAD is rich, doesn't make her rich. And besides she is married and on her own.
That's how I fed a family of 7 on less than the SNAP allowance for 1 person. Every day after school, all the children in the neighborhood hung out and snacked at our place. We ate heartily, healthily, and deliciously. Additionally, I built a frugal year's supply pantry with the surplus cash from my minuscule budget. I love playing this frugality game.
That is so impressive ❤
Love the idea to do that with problem areas instead of every category! I never thought to do that! So doing that with Amazon Prime! Thanks!
How you gonna use cash with Amazon Prime
@@cletusthemysteriousexactly
@@cletusthemysteriousSome people just don't think.
I suspect this person was making a point
No credit card debt per Dave....glad I am debt free. Except my mortgage
There’s a Canadian money person years ago she talked about Money jars for every category. You can take money from jar for another category but we couldn’t over spend. Any money left over went into a savings account. I did that and every month when I took what was left to the bank the tellers were all interested in what was left. By the end of a full year I had 3000 left over!!!
That's amazing to hear and very inspiring! It's wild how a small change can lead to big things
Gail Vaz-Oxlade, Til Debt Do Us Part. Author and television personality. She rocks!!
So wise. I live by : spend frugally day to do on the essentials, keep everything as low as possible…then you can spend intentionally in the areas of life that bring happiness and help you progress as a person or career path ❤spend where it matters to you so being frugal in all other areas is easy ❤
I just almost always order groceries for pickup- it forces me to remove stuff from my cart that goes over budget. The more I stay the heck out of stores altogether-the less I spend. Any time I can order online, I do it. I save & invest 30% of my income most months unless I have a home repair or it’s a major holiday. Cash never worked for me. I truly hate dealing with cash. I prefer every penny accounted for electronically & automatically.
This is the way!!
Yes!
Well... I need to read labels and pick out my own produce.
@@liana2136 the nutrition facts labels are online, you just swipe left. it’s even faster than in the store. Also when you do an online order if the produce isn’t perfect or something is too close to an expiration date, you can just tap your phone & get your money back. You don’t need to return it. I’ve never saved so much money and time! in my life since I went completely digital. Every penny is accounted for and scrutinized. Cash would waste a lot of my precious time. To each his own though, whatever works!
Thanks Rachel. We were cash based when I was going through college, building the emergency fund, and saving a big down payment. We went back to debit once we moved in and I feel like I've been struggling with a few categories since. We need to get back to the envelopes!
And I have been doing a version of this for decades. And only pay in cold hard cash. Cashiers are puzzled since most people pay by credit card or debit card.
I saw my parents searching for the cheapest, on sale groceries, and they both died of cancer. I swore to get the best whole food I could find, first and foremost. I'll scrimp somewhere else. Good idea to plan ahead.
I try to do both, in a way. I go to stores where I can get the best price for the food I want. I save a lot of money because I buy healthy food, but I quit buying junk food. Snack foods such as cookies and chips and premade pizzas all cost. I can get 6 bananas for less than $2.00. I can buy a bag of apples for around $3.00. So when I cut my spending on junk, then I was able to afford healthier options.
@smallfootprint2961 👏🏻👏🏻👏🏻
your gonna die to no matter how good you eat
Yes I’m recovering from EBV and my husband is type 1 diabetic, so an investment in food is in our health and that’s priceless. We shop at ALDIs so we can even get organic produce, grassfed meat, wildcaught fish there for a bargain. And we buy supplements and herbal tea which helps me feel better. I ordered black ginseng from Amazon and THAT has been therapeutic. Sometimes it’s worth spending money on even if it’s slower to reach some goals. It’s a trade off.
Since we live rural and do a good portion of shopping online (and for specialty items and bc some online places are cheaper than exact brand in stores) I have learned to treat the month's budget like a video game. When the points are gone they are gone. I have to keep myself within that limit or wait until next month to get it.
The cash thing isn't enough to stop me from spending.
We do a lot of online ordering too. I've created digital envelopes by using different checking accounts for the major areas that we spend. This is especially helpful for making our larger bulk purchases for items like food or buying a quarter cow etc.
Same here, your whole comment!
Money burns a hole in my pocket that’s my biggest issue that and toddler clothes are so cute and that little morning coffee 😭
I put money in for the week, not the month. Every friday I put my next weeks cash in. I have to do that for eating out, grocery, and second hand stores.🌞
I totally agree! I’ve had your cash wallet for a few months now and it’s transformed how I spend money and my mindset on those easily over-spent categories. I love feeling so in control and feels great having easy accountability.
I love your wallets I bought the camel color one that one in the video about 2-3 years ago and just got the metallic blush one for my birthday 🙌 Loveeeee them Rachel!!
@@adricruz9740 Yes, please
They sold you a wallet to cash budget. Which budget did this come out of? And you just bought a second. Back in the day, my parents used white envelopes with labels. This method may work but god forbid you lose it. With separate envelopes, you just grab the one you need and leave the others at home.
The wallet is pretty. One just takes the money out of the wallet to pay with cash. I use envelops. This system works great.
@@Galworld761so. The wallets are useful. Not everyone wants to use paper envelopes. I’ve done them and they got worn and had to replace them often. Eventually the cost and hassle wasn’t worth it to keep doing so.
Mine is definitely groceries! I went to buy to ingredients for our dinner yesterday and bought other stuff “ we might need” and spent $70 😪
I have never seen a wallet like that. Back in the '80s and '90s we used to have these old-fashioned budget envelopes. They were bound together in a little booklet and you titled each envelope and put the cash in them. Obviously I don't do that anymore but in the early 2000s I had to teach my mother how to budget. Which was really strange. And I just got her a bunch of regular envelopes and titled them and we would put the cash in them. (All the old binders I had fell apart long ago and I was using credit cards and spreadsheets by then)
I remember the main time when I was overspending. I finally had like $50 a week to spend on myself and I was going out to lunch everyday and spending $5 and it finally occurred to me that if I stopped doing that I might be able to afford to buy things which would last longer like clothing... So I pretty much stopped doing that. Think I did it now and then but mostly I went back to the cafeteria at work.
I like what your “TEAM “ is doing - changing the attitude of people towards handling money especially attitude about spending … that debt is not good , that good relationship matters in building wealth.
This is great! I too recently had the thought to start separating out my cash for my various budgets. ✉️💵
Where did she get that wallet?
Its on the ramsey solution store. She designed it.
Great idea! Former coworker used envelopes for every bill and household expenses and Xmas spending. I like the wallet idea!
I am a SAHM of three and one family car. Online shopping is waaaaaay easier but I do overspend. Better to just have a separate account for my spending to fix this. But I do see the envelope idea as a fix to not overspend my grocery budget.
Same!
How does having a separate account prevent over spending?
You make it difficult to overspend by having only one card on the Amazon account that’s linked with the separate account. Once money is gone you’d have to add another card to spend more but that’s an extra step making it less likely to reach out your wallet and physically pull out another card.
@@selinamorales801 why not just load your gift card balance or use a prepaid debit card?
Yes!! Cash can make spending feel more tangible
That is such a great idea!!! I bought fake money from a dollar store and put it in 3 envelopes;
-Beauty and clothes
-Groceries
- short-term savings ( if I want to buy something extra for the house, gifts, etc.
But maybe when I put real money in my wallet I will be even more careful!!!
This helps a lot. It's old school bc everyone uses cards. But when you use card, psychology it hits you different than having cash in hand and actually taking it out of the wallet and handing it over.
Love it! Where did you get that wallet?
Amazon is where I have trouble, can't have an envelope for that one, so it's hard
Try and remember when Amazon crushed all the small businesses during covid and it might help you not want to buy so much on Amazon, that's what helps me
Not having prime helped us. You get to wait to reach a minimum and then many times I realize I forget what I was going to buy. 🤷🏻♀️
I divide my monthly food allowance by 4 and only carry the money for the week for food. I think twice before I buy chips and sodas.
I have started liking your content so much... thank you for practical advice!
Grocery shopping is easy. Make a list. And only buy the things on that list.
Spend all you can ! Can’t take it with you!
😂😂😂. Or budget wisely and live stress free with pride and dignity.
I agree. Legal tender has no inherent value these days, since it's not backed by precious metals. I'm buying stuff that holds value before the banks collapse and steal our deposits for their bail-in crimes.
I do this! Made a big difference.
I❤ your channel very very much.
What worked for me was to deplete my bank account of all expenses right after the money came in.
So groceries, order your 1 month stock in bulk (you save a few pennies), now hold yourself accountable to eat that for the rest of the month.
It’s easier to shove the food down your throat when you don’t like it compared to falling short of your goals, ever.
Cmon! Show some restraint ya old badgers!
Love it, but when the grocery budget is gone…I don’t believe you’ll let yourself starve. However, I’ll take your advice of board
I like this a whole lot! Thanks!
I try to do this, I have separate envelopes for all kinds of things and try to actually put them in in cash and I have found it to be helpful
Love this idea!!! ❤
I do this with fast food! It helps!!!!
I recommend doing this with multiple physical cards to avoid hoarding and having loads of money worth of change.
Thank you, I will try it!😀
Yes! Great advice! We do this as well. And.. ❤️ your wallet! It’s been perfect! I have one in tan and black
Where is her wallet from??
Except nowadays, Cash is seen with suspicion.
I like this idea. Thankfully we don’t have any cc debt but I notice I spend more when I use them so I have taken them out of my wallet and only use our bank card and paying cash and I’m more aware knowing I can only spend a certain amount. We have challenged ourselves for 2024 to add more to the emergency fund.
I get it . I'll buy two or three of those wallets😂❤ . Just kidding, thanks for the advice.
I love that wallet! I dont use cash very often but i do have certain cards for certain categories and this would help me remember which card to use and also to organize my receipts.
The point is to do cash only, not cards
@cajbaf I'm aware. I've tried cash. It doesn't work for me. I lose track and my husband always forgets to keep receipts so its not worth fighting over. The cash strategy isn't a one size fits all. Regardless, I still like to organize and I have cards with rotating points categories. Being able to put the cards in the proper categories would help me use the one with the best benefits. I pay mine off in full several times a month so I never pay interest or fees.
Thank you
Great idea 💡
The cash envelope system works for us.
Lov that idea 🎉🎉
My hesitation with carrying your entire month’s budget in cash is that it could get stolen or lost and you have no way to recoup that. At least if someone steals your money from a credit/debit card you have recourse.
Is that your wallet? Where can I buy one?
Yes want that wallet
Same came here to ask this!
My birthday is this month & I'd love to get a new wallet to help me stick to my Grocery budget!
One thing I would say, dont go crazy on saving on food. It's your health aftet all. Focus on other areas.
Great idea
I love that wallet. Could you link it, please? I tried to find one similar, but with no luck.
That's hard when you do a lot of grocery pick ups. 🤦🏻♀️
Where can I get that specific envelope bag?! Love the color and all!
On her website - just google her name ❤
It is extremely easy for me, if I don't absolutely need it I don't buy it.
The tip was for people like me with spending issues. I wouldn’t be in such high debt if I had your skills
I want to know where to get that wallet. Lol. I use cash for most things and it would be nice to have the extra pockets.
This works
Get a custom credit card that has a picture of Terry Cruze on it from, "Everybody Hates Chris."
I have noticed so many places do self checkout and it is card only. I will have cash with me and then end up paying with my card. It is so annoying
Where did you get a multi pocket wallet like that ?? Great idea
Me, it's sports. I spend way too much on physical activities for me and the boys, to the point we forego vacations abroad.
Good idea
That's because you used a debt card every where. If you were writing checks off the budget you set it would be clearer where your money is going.
That’s a good idea I’ll try it
I really like this idea! I’ve long been a debit card user because, let’s be honest, it’s not worth the effort to take out cash for, say, the gas station, when I’m spending $48.32 to fill my tank no matter what form or tender I use.
But for things like clothing, cosmetics and toiletries, and snacks (maybe even groceries but it’s not the essentials but the extras that get me), this could work well.
One question, though. What do you do if most of your spending on things like clothing is online? I buy a lot of my clothes on Poshmark and cash isn’t an option there.
I cannot get my husband on board with this. Lol, I wish we would do this.
Still not easy to keep track of everything. I prefer a spread sheet they I update at the end of every month by spending around an 1 hour to keep track of every penny properly. Then I revise my track and decide on what matters less based on accurate data if I need to save more. It also fixes your habits when you know your record well.
I do have a problem overspending on wallets
I need the red wallet to be back in stock! I LOVE her red wallet
Whats link for wallet?
That is a nice idea, however do we take our entire amount for the month with us to go shopping? I don’t think we should be doing that.
Cash is always king!!!
Wish I could get this wallet in Australia
Many places don’t accept cash
I do better by comparing one week to the next. No limit, just a goal I try to reach or beat each week.
Can easily take the cash out from another envelope within the same wallet😂
The link to that purse pLEASE 🙏🏻
Where can we get these wallets!
I like your CA$H WALLET! Where can I find one like that? 💁🏼♀️
My problem is I will cash the money out for my groceries and somehow it sneaks to eating out.
If government wasn't printing trillions of dollars every month out of thin air life would be different. People could actually afford groceries. We need to have a serious conversation about hyperinflation.
For me it’s the entertainment category when it comes to overspending. Mostly video games.
I love my wallet!! It is well made! And i spend so much less when I use cash!!
How do you combat this when you live in a big city which is mostly cashless?
That's what I did as a single mom.
What if u shop those categories online??
There are checking accounts like SoFi and Ally that have "buckets" or "vaults." They act as digital envelopes.
Ya Saint Lauret needle and thread.
I had a wallet like that but they were paper envelopes. They didn’t last. Also I use a very small purse now.
U always dress and look so pretty...wallet fabric in sync with your top...❤🔥❤
Where did you get this wallet?? So cute and custom!
It’s on her website- google her name ❤
Is there one for guys? A manly wallet envelope ✉️ lol😂
with cash? I have a Target Red card which gives me a 5% discount, 2 day shipping, and 3 months return policy. I can't lose those perks.
How long does it take for the blanket in the master bedroom. Lifetime.
I need that wallet!!! And you're beautiful. You're skin and smile. I'm sorry I can't help it. Every time I watch your videos I just think wow she is really beautiful & flawless AND HUMBLE. God bless - have a great day
Here in Canada, by the end of 2026, we will not have access to cash anymore. Everything will be digital. It was announced a few months ago.
Trudeau is a tyrant
Even though I’m single I bulk buy or stock up…I hate if every check I need this I need that, so get it all at once and I’m good usually good for like 3 to 6 months and it helps those visits to cvs Walgreens etc where you go in for one thing and buy a bunch of stuff you didn’t need. Less visits equals less money for me personally. I sometimes visit a coupler who sells stuff and I can get most personal necessities at once and discounted. Also right now I’m doing a 52 week savings so each Friday I put aside 50 cash it’s not a lot no but what I can do while still adding to savings and 402k and it’ll add up at the end of the year and it’ll be my emergency fund. I’ve cut clothes buying and eating out the past 3 years.
Sorry 401 k lol
I limited my credit card of 12000 CA $ limit to 500 CA$ limit . So I limit myself to 500 /2 weeks ! I check the balance every day ! So there is no room for clothes and extra useless things !
I thought she was going to say: if you have a problem with overspending I totally understand you. Here is what I did - Marry a rich husband!