Comments on: The Effective Simplicity of Budgeting by Envelopes http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/ Building Towards Personal Finance Success! Wed, 17 Mar 2010 00:56:47 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Luke http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/comment-page-1/#comment-4547 Luke Fri, 11 Sep 2009 19:38:28 +0000 http://20somethingfinance.com/?p=1237#comment-4547 The envelope system is fantastic, I've used it myself for years. But like some of the other commenters, I've been hesitant to carry around all that cash. So I use my debit card and track it all virtually on a website I created called NeoBudget (http://www.neobudget.com). The envelope system is fantastic, I’ve used it myself for years. But like some of the other commenters, I’ve been hesitant to carry around all that cash. So I use my debit card and track it all virtually on a website I created called NeoBudget (http://www.neobudget.com).

]]> By: emergency cash http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/comment-page-1/#comment-4126 emergency cash Wed, 15 Jul 2009 22:24:10 +0000 http://20somethingfinance.com/?p=1237#comment-4126 I just love using the envelope system. For some reason it helps keep me on track when I can see the money put away for certain expenses right in front of me. I just love using the envelope system. For some reason it helps keep me on track when I can see the money put away for certain expenses right in front of me.

]]> By: fabmoneylife http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/comment-page-1/#comment-4105 fabmoneylife Sun, 12 Jul 2009 16:29:30 +0000 http://20somethingfinance.com/?p=1237#comment-4105 I've been hearing about the "envelope system" for quite some time now, and I think it's a great idea. I would probably lean more towards using a virtual envelope system, such as a putting a certain amount in a debit card account and using that for the allotted time period. Cash would be rather difficult to track and trend. I’ve been hearing about the “envelope system” for quite some time now, and I think it’s a great idea. I would probably lean more towards using a virtual envelope system, such as a putting a certain amount in a debit card account and using that for the allotted time period. Cash would be rather difficult to track and trend.

]]> By: Zinc oxide http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/comment-page-1/#comment-4104 Zinc oxide Sun, 12 Jul 2009 13:22:56 +0000 http://20somethingfinance.com/?p=1237#comment-4104 I use an excel sheet to maintain my daily expenses. I use an excel sheet to maintain my daily expenses.

]]> By: Sacha Chua http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/comment-page-1/#comment-4075 Sacha Chua Fri, 03 Jul 2009 12:46:11 +0000 http://20somethingfinance.com/?p=1237#comment-4075 I use a virtual envelope system that lets me keep money in bank accounts and virtual money in virtual envelopes. =) I <a href="http://sachachua.com/wp/2009/04/20/my-financial-network-map-and-virtual-envelope-system/" rel="nofollow">mapped my financial network and described the process on my blog.</a> The tool I use to keep track of the envelope balances is super-geeky, but you'd probably be able to do something similar with a spreadsheet or a notebook. I use a virtual envelope system that lets me keep money in bank accounts and virtual money in virtual envelopes. =) I mapped my financial network and described the process on my blog. The tool I use to keep track of the envelope balances is super-geeky, but you’d probably be able to do something similar with a spreadsheet or a notebook.

]]> By: Andrea (Recession Proof Living) http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/comment-page-1/#comment-4051 Andrea (Recession Proof Living) Wed, 01 Jul 2009 14:47:36 +0000 http://20somethingfinance.com/?p=1237#comment-4051 I know what you mean about not wanting to carry a lot of cash. One way to deal with this is to fill your envelopes weekly instead of monthly. That way if (God forbid) you lose your Entertainment envelope, you're only out the money for one week's worth of entertainment. We found weekly budgeting to be more effective anyway, because it kept us from blowing through a whole month's worth of money the first week. :) I know what you mean about not wanting to carry a lot of cash. One way to deal with this is to fill your envelopes weekly instead of monthly. That way if (God forbid) you lose your Entertainment envelope, you’re only out the money for one week’s worth of entertainment.

We found weekly budgeting to be more effective anyway, because it kept us from blowing through a whole month’s worth of money the first week. :)

]]> By: AK http://20somethingfinance.com/the-effective-simplicity-of-budgeting-by-envelopes/comment-page-1/#comment-4050 AK Wed, 01 Jul 2009 02:50:35 +0000 http://20somethingfinance.com/?p=1237#comment-4050 I did this while I was in college and it worked really well! It does curb spending habits... the only this is that I got a little bit nervous with all that cash around. For people who don't have time to track all their little purchases online or in a spreadsheet, this is a great idea. I did this while I was in college and it worked really well! It does curb spending habits… the only this is that I got a little bit nervous with all that cash around.

For people who don’t have time to track all their little purchases online or in a spreadsheet, this is a great idea.

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