How to Budget Personal Finances : The Envelope System for Managing a Budget

[mycesi]

I like going old school to make sure you get all your bills handled!

[Lenochka8304]

This is a very good idea, but most of the bills is paid online through the debit card. Unless you withrow some amount of money for flexible expenses and pay the bills first. Great idea though! Thanks.

[leebrendalee]

I would have liked to have seen what software program they use to put all that into at the end of the month.

[mrdragonbubbles2]

haha i love the envelope system but my girlfriend hates it when i USE it. towards the end of Janurary i had FIFTY bucks in one dollar bills using ONLY the envelope system

[GOT2LETGO]

This is a great system for me, last month we had to pay over $280 to my bank in fees for overdrafts, the month before that it was $35. Obviously my hubby and I can't handle the debit card, we don't understand the order of charges applied and it messes us up horribly. We have given up on having good credit, but we still need to be able to manage our monthly bills and living expenses, we are trying this system on payday this month. We need to see personal finance success badly!

[RKGOLF]

@GOT2LETGO I hope this worked for you. I am going to try it too. Yes, those overdraft fees are nasty, and the tempation to swipe (that debit card) is overwhelming. If you aren't balancing down to the penny and you're swiping, paying cash and using checks you're bound to get into trouble. Good luck. Let me know how it goes.