When you said you go to the bank weekly to get out your money that was a lightbulb moment for me. I was always running out of money for groceries by the end of the month. Last month I pulled out my grocery money weekly and I still have $102 left till Friday. It was a game changer for me!
JenPlans so for me I have $150 a month for groceries and $50 for eating out. Would I just divide each of those by 4 and take that amount out for my wallet each Friday?
Me and my husband are going to buy our first home. I am an impulsive shopper especially with grocery and beauty stuff. Now I am scared to be in debt because of bills we will need to pay. Thank you for your explanation on sinking funds and this cash system will help with the areas that I usually over spend. I am now feeling better and feeling confident I will get through the transition from renting to being a home owner. Thank you! 😊
Jenplans I cannot thank you enough for these videos. I ordered my first EC planner and will be starting your system very soon. It is the missing link that we have been struggling over. I’ve tracked every dollar spent for over 12 years and we have still never been ahead. The sinking fund and cash system is what we’ve needed to learn how to do. I am so grateful!!
I LOVE THIS! This makes me feel like i could do the envelope system. The paper clip solution is everything! Keep them coming. Thanks for helping my family ❤️
This is very nice thank you. I only grocery shop every other week, so I could probably get away with pulling cash only on those weeks. But I don't have too much trouble over spending on grocery budgets. Our Overspending is eating out and its hard to curb when my husband is wholly not on board and we live with a large family of 10 so everyone splits expenses.
When u said I go to the bank every Saturday I wrote it down !! It was like someone opened the shades !! And also thank you for admitting that’ this took some getting used to to be disciplined. I watch a lot of videos and people make it seem like it’s easy from the start. Thx for the video !!
Great video!! Hubby and I share both our savings and checking account. I pay all the bills online and I leave $300 in the checkings. From that money we buy groceries, put gas and the remainder is spending money. We check our account every night so we know where we are in money left. If for any reason we overdraft, our bank does not charge us overdraft fees because our savings is over the required limit to be provided this complementary offer. Everyone has a system and by sharing our different systems we all learn alil bit to get ideas and/or better our systems. I meal plan and grocery money last a lot longer too. ONE THING WE DONT DO, we don’t eat out weird huh lol. As a family of five if we go out to eat will easily spend $50 even at a fast food so we don’t do that. That will be something we can reward ourselves when we finish paying off debt. My kids don’t mind or complain so it’s okay I’m not hurting them in anyway lol. Tfs
This was super inspiring. My husband and I used an envelope system when we were first starting out and we didn't have a ton of money. It was absolutely our saving grace and what got us by for many years. I'm definitely trying to get us back to that system and your videos have been motivational and very informative to where we are at now in our lives. Starting out with a cash system, I think really taught us how to live within our means, and as a result we don't have credit card debt. We have 1 car payment we recently acquired and that's it. The goal for us right now is to save enough to buy a house. Anyway, I'm enjoying your videos and definitely taking positive away from them.
What a gift that you started that way! I wish we had - we made a lot of mistakes early on and we are still catching up from them. Thankful we figured it out though!
The grocery budget is the hardest for me to keep in check too! I actually did good in January and only went a few cents over. Your wallet system is awesome :)
This was so helpful!! Thank you!!! I thought I needed a Bella Taylor wallet to be successful but I already use this exact type of wallet so I don't have to buy one! You've made this make sense for me! Thank you!!
This is so beautiful! I throw change into an OLD OLD mayonnaise jar and when it reaches a certain point, it goes straight to savings. It’s 99% silver, pennies go to my sons piggy bank, and my little earns commissions for little things or gets “money!” Here and there when he is nearby and I don’t feel like putting a penny into the jar (he loves to though so hey!). I’m definitely into this, and am hunting out paperclips now. Thank you n
Very similar to my cash system. I️ give my husband and I️ allowance every two weeks which has been so helpful. With the new allowance system we all of a sudden do not get Starbucks’s as often. Lol....it really does help to keep within our budget and save
I love your cash budgeting system and wallet. I found a wallet (there is several for sale) on amazon called rullar women's sequin wallet leather zip around for $7.99 plus I think $1.50 shipping I think. This wallets looks a lot like jen's. Thank you.
The thing about not using it for every category-before I read Dave Ramsey’s book, I thought using the envelope system meant people were walking around with insane amounts of cash (savings, sinking funds, etc.).
I haven't seen one in person but online it looks really big? Is it too big to carry around like if you just run somewhere and don't want to take your wallet? Does the fabric get dirty easy?
From my spending cash! If I know I want to get planner stuff online, I just won't withdraw the cash that week and I'll pay with PayPal out of my bank account!
January was my first month I did the envelope cash system. So far it been working great for me except in the grocery category. How to you keep track of how much you are spending when you are at the grocery store? 2 weeks out of the month when I would go check out I would go over and have had to use my debit card. I want to try to avoid that.
What do you do if you get the check out and found you have overspent? Do you put items back or just deduct from the following week? Or, do you just do a detailed shopping list in advance, noting sales etc. and know you will not go over budget?
Personally, I only shop at places like Walmart or Kroger that offer online shopping. Since I use cash, I build my list online and then use that to shop at the store. That gives me the prices so when I get to the checkout I have no surprises. Also allows me to shop by my list knowing that any impulse items will blow my budget. In the past I have taken a calculator into the store with me and run it while I'm shopping.
I kind of tally as I shop, but yes, if I'm over, I put things back! If I don't have the cash, that means it's not in the budget. Planning helps a lot and I almost never have this happen when I'm careful and paying attention. It also forces me to prioritize as I shop!
One thing I’ve found useful is going through my shopping list before I get to the store and assigning each item an estimated amount I’ll spend (for example, I might say I’ll spend $3 for a loaf of bread). Then when I get to the store I look for items that are close to that preassigned value. I find that I usually underspend doing it that way. I hope that makes sense.
I heard one time you talk about a clicker you take to the store to keep track of how much you have in your cart. What are they called so I can look them up on amazon.
Do you meal plan or do you just buy basic ingredients and items and then figure your meals out on the fly each day? Sometimes I feel like I save money meal planning and sometimes I feel like I buy more than when I buy basics and just throw stuff together.
It's a mix...I like to keep staples on hand at all time, and then I try to plan for like 3 big meals a week (with enough for leftovers for lunches, or to freeze for later), and I try to find crossover ingredients so I don't waste what I buy (a bag of carrots will be split into roasted carrots one night, carrots in a stew another night, then cut up for fresh veggies for snacking).
I’m addicted to my cash rewards card. I pay it off every pay day and once a month I get 1-2% back. It ends up being about $50. I really like your system. What’s your thought on cash reward cards?
On average, even people who pay it off every month still spend around 17% more just by swiping. I find that a card just doesn't provide the boundary and discipline of cash. It's doubtful that anyone is getting 17% cash back, so for most people, it's not really a win.
girlfriendsguidetomotherhood no. What you can do is look at your budget and break down each of your spending categories into what bills you’ll need. One of my envelopes is for mani pedis, the cost for both is usually $65 and then whatever tip I leave. I wrote down what I was going to need and withdrew from my account with a teller and gave an exact number of $20’s, $10’s etc. hope that helps.
Question: are there any benefits to taking cash out every week instead of once a month? What it you don’t make it to the bank for whatever reason. What do you do then? Thanks for all the great financial advice!! Love your videos. 💕
Betty Freck I like having a limited amount at all times. If I did the whole month at once, I think I’d be too tempted to steal from future weeks. But some people do it and are fine with it! I could probably do it if I kept the rest in a safe at home and only took the portion I need for the week. My bank is right by my house, so if I’m going out, have easy access, but if I just don’t go for some reason and I use my debit card, I deduct the amount from the total I withdraw when I get there.
JenPlans Thanks for the idea! I have two little ones and it seems like something always comes up so I don’t end up going to the bank and I just use my debit card. Then I loose track of what I spent on what. That’s why I was thinking of going once a month to the bank instead.
Where does the money come from for you for things like your planner supplies? I spend Willy nilly on stickers and makeup. I’d like to get more disciplined about it.
My spending/free money! If I know I want to buy something online instead of with cash, I'll just not withdraw my spending money for the week and load it into PayPal (so I don't go over). I also have occasionally used leftover dining out money if the week ends and we didn't spend it all ;)
How much money do you use for groceries for each person? This is one area my family seems to struggle. And how much money do you set aside for dining out each week? Thanks for all the great tips!!
Chenoa Morrison just my 2 cents: I have a family of 5, 2 adults and 3 small kids 5 and under. I aim to spend less than $100 per person per month. (So $500 or less.) This includes all household items like cosmetics, shampoo, napkins, etc. and formula for the baby although he'll be a year next month so I'll be able to free up that money for something else in my budget.
When you said you go to the bank weekly to get out your money that was a lightbulb moment for me. I was always running out of money for groceries by the end of the month. Last month I pulled out my grocery money weekly and I still have $102 left till Friday. It was a game changer for me!
I HAVE to do it weekly or we blow through it! I'm so much more diligent with smaller amounts!
JenPlans so for me I have $150 a month for groceries and $50 for eating out. Would I just divide each of those by 4 and take that amount out for my wallet each Friday?
Me and my husband are going to buy our first home. I am an impulsive shopper especially with grocery and beauty stuff. Now I am scared to be in debt because of bills we will need to pay. Thank you for your explanation on sinking funds and this cash system will help with the areas that I usually over spend. I am now feeling better and feeling confident I will get through the transition from renting to being a home owner. Thank you! 😊
Jenplans I cannot thank you enough for these videos. I ordered my first EC planner and will be starting your system very soon. It is the missing link that we have been struggling over. I’ve tracked every dollar spent for over 12 years and we have still never been ahead. The sinking fund and cash system is what we’ve needed to learn how to do. I am so grateful!!
I LOVE THIS! This makes me feel like i could do the envelope system. The paper clip solution is everything! Keep them coming. Thanks for helping my family ❤️
This system fits my lifestyle more than any system I’ve seen. Thanks for the video!
Thank you! I feel the same way. I need things to not be complicated! LOL
This is very nice thank you. I only grocery shop every other week, so I could probably get away with pulling cash only on those weeks. But I don't have too much trouble over spending on grocery budgets. Our Overspending is eating out and its hard to curb when my husband is wholly not on board and we live with a large family of 10 so everyone splits expenses.
When u said I go to the bank every Saturday I wrote it down !! It was like someone opened the shades !! And also thank you for admitting that’ this took some getting used to to be disciplined. I watch a lot of videos and people make it seem like it’s easy from the start. Thx for the video !!
Great video!! Hubby and I share both our savings and checking account. I pay all the bills online and I leave $300 in the checkings. From that money we buy groceries, put gas and the remainder is spending money. We check our account every night so we know where we are in money left. If for any reason we overdraft, our bank does not charge us overdraft fees because our savings is over the required limit to be provided this complementary offer. Everyone has a system and by sharing our different systems we all learn alil bit to get ideas and/or better our systems. I meal plan and grocery money last a lot longer too. ONE THING WE DONT DO, we don’t eat out weird huh lol. As a family of five if we go out to eat will easily spend $50 even at a fast food so we don’t do that. That will be something we can reward ourselves when we finish paying off debt. My kids don’t mind or complain so it’s okay I’m not hurting them in anyway lol. Tfs
Thank you for sharing! I love hearing how other families make it work for them!
I use paper clips in my wallet too! I also use post it notes to help me out 😊
This was super inspiring. My husband and I used an envelope system when we were first starting out and we didn't have a ton of money. It was absolutely our saving grace and what got us by for many years. I'm definitely trying to get us back to that system and your videos have been motivational and very informative to where we are at now in our lives. Starting out with a cash system, I think really taught us how to live within our means, and as a result we don't have credit card debt. We have 1 car payment we recently acquired and that's it. The goal for us right now is to save enough to buy a house. Anyway, I'm enjoying your videos and definitely taking positive away from them.
What a gift that you started that way! I wish we had - we made a lot of mistakes early on and we are still catching up from them. Thankful we figured it out though!
The foldover and clip method is a good tip.
We're starting on the envelope system and this is one of the most helpful videos I've seen yet. Thanks
❤️This is definitely a system I feel is doable. Gonna give it a try for sure! Thanks for sharing. 😊
The grocery budget is the hardest for me to keep in check too! I actually did good in January and only went a few cents over. Your wallet system is awesome :)
Food is ALWAYS my hardest! Still!
This was so helpful!! Thank you!!! I thought I needed a Bella Taylor wallet to be successful but I already use this exact type of wallet so I don't have to buy one! You've made this make sense for me! Thank you!!
I really love your system!! Me and my husband need to do cash so we see the money go! Lol
This is so beautiful! I throw change into an OLD OLD mayonnaise jar and when it reaches a certain point, it goes straight to savings. It’s 99% silver, pennies go to my sons piggy bank, and my little earns commissions for little things or gets “money!” Here and there when he is nearby and I don’t feel like putting a penny into the jar (he loves to though so hey!). I’m definitely into this, and am hunting out paperclips now. Thank you n
Very similar to my cash system. I️ give my husband and I️ allowance every two weeks which has been so helpful. With the new allowance system we all of a sudden do not get Starbucks’s as often. Lol....it really does help to keep within our budget and save
joemarisefcik makes such a huge difference for us too!
I love these kinds of videos! You do an excellent job of explaining how to do it and why it works. Please keep them coming :)
I have a similar wallet and I love how you set yours up. I will definitely be doing that today!
I really liked the clip idea! Should do that in the future, it's not a real money yet.😁
Great video-thank you! Would you mind telling a little about how you manage receipts from purchases?
I found an amazi g cash flow system homemade Wallet on Amazon and LOVE it.
Good idea with clipping the money you swiped the card for. I always get messed up there!
The savvycents wallet is awesome for this! I love your videos! I'm a new subscriber!! 😊
I love your cash budgeting system and wallet. I found a wallet (there is several for sale) on amazon called rullar women's sequin wallet leather zip around for $7.99 plus I think $1.50 shipping I think. This wallets looks a lot like jen's. Thank you.
Another great video!! Keep posting them!! Love them all!!
Thank you!!
The thing about not using it for every category-before I read Dave Ramsey’s book, I thought using the envelope system meant people were walking around with insane amounts of cash (savings, sinking funds, etc.).
I love it 😍!! This is so helpful.. keep up the videos girl!!
Enjoy all of your videos and I also love and follow Dave Ramsey too!!
What do u do with your receipts when you make a purchase?
Hi Jen I love this cash envelope budgeting video, can you please do an update on this system. Thanks
I would, but everything is the same! No changes yet :)
😣 I HAVE A LOT OF TROUBLE STARTING THIS. I WISH I COULD DO THIS. BUT I DON'T KNOW HOW TO BEGIN 😥
YOUR SO PRETTY. AND LOVE YOUR VIDEO.
Love your videos ! Amazing video. I was wondering if you would make a video of your favourite stickers.
The Bella Taylor wallet is amazing for the cash system, you can find it on amazon its around 40 bucks.
I agree! I have had mine for years...still looks new!
I haven't seen one in person but online it looks really big? Is it too big to carry around like if you just run somewhere and don't want to take your wallet? Does the fabric get dirty easy?
So helpful.. thanks for sharing!!!
I’ve really enjoyed this series. How do you budget for planner supplies? That’s a big spending area for me! Thanks!!!!
From my spending cash! If I know I want to get planner stuff online, I just won't withdraw the cash that week and I'll pay with PayPal out of my bank account!
💚
Awesome! PS: DR rocks!
January was my first month I did the envelope cash system. So far it been working great for me except in the grocery category. How to you keep track of how much you are spending when you are at the grocery store? 2 weeks out of the month when I would go check out I would go over and have had to use my debit card. I want to try to avoid that.
This was very helpful , I need to be more disciplined!!
Love your wallet system
Hello Jen. Approximately how much money are you allocating for grocery, dining, and fun money? If you don’t mind sharing. Thank you.
What do you do if you get the check out and found you have overspent? Do you put items back or just deduct from the following week? Or, do you just do a detailed shopping list in advance, noting sales etc. and know you will not go over budget?
Personally, I only shop at places like Walmart or Kroger that offer online shopping. Since I use cash, I build my list online and then use that to shop at the store. That gives me the prices so when I get to the checkout I have no surprises. Also allows me to shop by my list knowing that any impulse items will blow my budget. In the past I have taken a calculator into the store with me and run it while I'm shopping.
I kind of tally as I shop, but yes, if I'm over, I put things back! If I don't have the cash, that means it's not in the budget. Planning helps a lot and I almost never have this happen when I'm careful and paying attention. It also forces me to prioritize as I shop!
One thing I’ve found useful is going through my shopping list before I get to the store and assigning each item an estimated amount I’ll spend (for example, I might say I’ll spend $3 for a loaf of bread). Then when I get to the store I look for items that are close to that preassigned value. I find that I usually underspend doing it that way. I hope that makes sense.
I do the calculator thing on my phone as I shop... which is also where my shopping list is in my Samsung Notes
How do you track your expenses/receipts?
I heard one time you talk about a clicker you take to the store to keep track of how much you have in your cart. What are they called so I can look them up on amazon.
How much do you dedicate to spending money? I cant decide how much to do.
I am the same way for grocery and household items. No reason to split that stuff up.
Do you meal plan or do you just buy basic ingredients and items and then figure your meals out on the fly each day?
Sometimes I feel like I save money meal planning and sometimes I feel like I buy more than when I buy basics and just throw stuff together.
It's a mix...I like to keep staples on hand at all time, and then I try to plan for like 3 big meals a week (with enough for leftovers for lunches, or to freeze for later), and I try to find crossover ingredients so I don't waste what I buy (a bag of carrots will be split into roasted carrots one night, carrots in a stew another night, then cut up for fresh veggies for snacking).
I’m addicted to my cash rewards card. I pay it off every pay day and once a month I get 1-2% back. It ends up being about $50. I really like your system. What’s your thought on cash reward cards?
On average, even people who pay it off every month still spend around 17% more just by swiping. I find that a card just doesn't provide the boundary and discipline of cash. It's doubtful that anyone is getting 17% cash back, so for most people, it's not really a win.
This is what Rachel Cruze, Dave Ramsay's daughter teaches. The wallet she sells is like the one you have
"oh, let's take this clip away..look at all the money I have" hehehe
Hahahaaaa I've done it more times than I'd care to admit! LOLLLL
Can you withdraw odd amounts from the ATM or is it only like 20s?
girlfriendsguidetomotherhood no. What you can do is look at your budget and break down each of your spending categories into what bills you’ll need. One of my envelopes is for mani pedis, the cost for both is usually $65 and then whatever tip I leave. I wrote down what I was going to need and withdrew from my account with a teller and gave an exact number of $20’s, $10’s etc. hope that helps.
My bank's atm gives me options of how many for each denomination is. So i guess it depends on your bank. 😊
Thanks for sharing! What category do you use to purchase your planner//accessory hauls? Is that personal or job related?
Personal! I just use my spending money :)
Question: are there any benefits to taking cash out every week instead of once a month? What it you don’t make it to the bank for whatever reason. What do you do then? Thanks for all the great financial advice!! Love your videos. 💕
Betty Freck I like having a limited amount at all times. If I did the whole month at once, I think I’d be too tempted to steal from future weeks. But some people do it and are fine with it! I could probably do it if I kept the rest in a safe at home and only took the portion I need for the week. My bank is right by my house, so if I’m going out, have easy access, but if I just don’t go for some reason and I use my debit card, I deduct the amount from the total I withdraw when I get there.
JenPlans Thanks for the idea! I have two little ones and it seems like something always comes up so I don’t end up going to the bank and I just use my debit card. Then I loose track of what I spent on what. That’s why I was thinking of going once a month to the bank instead.
Where does the money come from for you for things like your planner supplies? I spend Willy nilly on stickers and makeup. I’d like to get more disciplined about it.
My spending/free money! If I know I want to buy something online instead of with cash, I'll just not withdraw my spending money for the week and load it into PayPal (so I don't go over). I also have occasionally used leftover dining out money if the week ends and we didn't spend it all ;)
How much money do you use for groceries for each person? This is one area my family seems to struggle. And how much money do you set aside for dining out each week? Thanks for all the great tips!!
Chenoa Morrison just my 2 cents: I have a family of 5, 2 adults and 3 small kids 5 and under. I aim to spend less than $100 per person per month. (So $500 or less.) This includes all household items like cosmetics, shampoo, napkins, etc. and formula for the baby although he'll be a year next month so I'll be able to free up that money for something else in my budget.
Good question. How do you decide?
Hi ... great video ... have you tried the Savvy Cents wallet?
Lynn Corp I haven’t yet but I’ve heard good things! I keep my wallets til they fall apart! Lol!
How much do you recommend as a buffer in your checking?
I think it depends! I never like to dip below $150/$200, personally.
Are you still accepting people in your Facebook group? I’d love to join!
Yes! We add in batches because we have to check out profiles to try to keep scammers out!
Too much repetición bla, bla,