Please bare with me, I'm new to cash envelopes. So i would withdraw cash after i get paid and sort it into envelopes? Then only use cash to pay for items. When i run out, im done until next payday? Is this method to avoid credit card usage? Wouldn't savings/sinking funds be better placed in high yield savings account instead of accumulation of cash, gaining no interest. I'm trying to start budgeting, but I'm trying to make sense of this method. Thank you!
You got the basics right! After you get paid, you'll first budget how much you want to spend in different categories like groceries, dining out, entertainment, etc. You'd then withdraw the cash for those categories and distribute it into separate envelopes labeled for each category. When you need to make a purchase in a category, you use the cash from the corresponding envelope. Once the cash in an envelope runs out, you refrain from spending in that category until the next payday. By using cash, you can physically see and feel your money, which makes you more mindful of your spending habits. The envelopes act as a short-term holding and a visual cue, but your longer-term savings should indeed be placed where they can grow.
Hi there! We have a budget planner binder that also comes with cash envelopes and budget sheets: cleverfoxplanner.com/products/budget-planner-binder?_pos=1&_sid=af7ef1060&_ss=r
What do you recommend for having multiple categories in the same transaction? If I go to Walmart I might buy groceries, clothes, and household or automotive expenses in the same transaction
Hi there! Thanks for your comment. You could try separating these items into groups when paying for them and pay for each group separately. Or to save you time you could create a separate 'Walmart' envelope and use it to pay exclusively at Walmart 🙂
How do you recommend using the cash envelope system with your spouse? If you’re both out of the house separately and need a “dining out” “gas” envelope, etc?
Hi Kelly, thanks for your question! We would recommend separating the money for these categories into two envelopes, so you can both use them comfortably, and then add up the totals at the end of the month. Hope this helps! 🙂
Being able to purchase extra budget sheets would be fabulous!!
Hi Evonne, thanks so much for the suggestion! I will make sure to pass it on to our product design team.
This is so helpful! Thanks for sharing!!!
😁🧡
Please bare with me, I'm new to cash envelopes. So i would withdraw cash after i get paid and sort it into envelopes? Then only use cash to pay for items. When i run out, im done until next payday? Is this method to avoid credit card usage? Wouldn't savings/sinking funds be better placed in high yield savings account instead of accumulation of cash, gaining no interest. I'm trying to start budgeting, but I'm trying to make sense of this method. Thank you!
You got the basics right! After you get paid, you'll first budget how much you want to spend in different categories like groceries, dining out, entertainment, etc. You'd then withdraw the cash for those categories and distribute it into separate envelopes labeled for each category. When you need to make a purchase in a category, you use the cash from the corresponding envelope. Once the cash in an envelope runs out, you refrain from spending in that category until the next payday. By using cash, you can physically see and feel your money, which makes you more mindful of your spending habits. The envelopes act as a short-term holding and a visual cue, but your longer-term savings should indeed be placed where they can grow.
Does this come with a binder? I have the pouch but a binder would be cool.
Hi there! We have a budget planner binder that also comes with cash envelopes and budget sheets: cleverfoxplanner.com/products/budget-planner-binder?_pos=1&_sid=af7ef1060&_ss=r
What do you recommend for having multiple categories in the same transaction? If I go to Walmart I might buy groceries, clothes, and household or automotive expenses in the same transaction
Hi there! Thanks for your comment. You could try separating these items into groups when paying for them and pay for each group separately. Or to save you time you could create a separate 'Walmart' envelope and use it to pay exclusively at Walmart 🙂
How do you recommend using the cash envelope system with your spouse? If you’re both out of the house separately and need a “dining out” “gas” envelope, etc?
Hi Kelly, thanks for your question! We would recommend separating the money for these categories into two envelopes, so you can both use them comfortably, and then add up the totals at the end of the month. Hope this helps! 🙂
Do you do extra budget sheets in a pack by themselves without the envelopes as already have my envelopes?
Thanks 🙂
Unfortunately, we do not have the budget sheets for sale separately atm but thank you for the idea. We might add them for sale in the future.
@@cleverfoxplanners Ok thanks for letting me know 🙂, fingers crossed you will seek them in the future 🙂