This, my friends, is the envelope system. It's one of the tools you get when you take Dave Ramsey's Financial Peace University class. It's also my new best friend. Here's where you can order one.
Before I had this handy-dandy thing I was using business envelopes held together with a fancy paper clip. It was very inconvenient and after two months I refused to use them anymore. I love the coin bag in this one and being clear makes it so much easier to fish out the two dimes and three pennies or 1 quarter, two dimes and four pennies or whatever, it makes using my change much easier.
The envelopes are labeled by our budget categories. Here's the one that irritates me the most. I think I might scribble out sports and write dancing or stardust sprinkles or rose petals, anything would sound better than SPORTS! Not that I'd be spending money on dancing, stardust sprinkles or rose petals, but those could be my code names for 'I have to pay two bucks a head for my two little kids to run around the side court and tell me they are starving to death every fifteen minutes while I endure sitting on a cold metal bench'.....oh, wait, sorry...that's a different post. Back to the envelope system.
We have one for dining. We can't go out to eat unless there is money is this envelope. Once the money is gone then, NO SOUP FOR YOU!!!
This is the envelope that is getting worn out. The category boxes on the front, side and back of the envelope are used to track any expense we don't receive a receipt for but have used some of the cash to purchase it. We've been using this envelope system for a few months and it really does work. You will become incredibly creative when you know there is only $2.34 left in your grocery budget and you don't get paid for another three days.
Here's where the cash goes. I also jam my receipts in there and later take them out and enter the expense in an accounting program.
And when you are done with this book you can pass it on to another friend that needs help getting motivated to make a financial plan.
To enter this give away leave a comment today. You can just say, "Hey, I want that book!" or you can tell me how wonderful I am, either way is fine. I'll choose the winner tomorrow. Okay, I'm off to wash some of the stardust and rose petals that need to be returned to the athletic director. Yeah.
*****Give Away CLOSED, I'll announce a winner soon*****