The Best Cash Envelope Wallet Systems
As the new year starts we all have these great ideas for our new years resolutions and we always seem to start the year off with so much determination.
Some people succeed and continue on the with their resolutions of losing weight, budgeting, saving money for various reasons.
I am going to help you along here if your new year resolution’s getting your money sorted….
I was hopeless with my money many moons ago, although always frugal and a cheapskate, I somehow would just flit it away and then check my bank and it was just about empty.
Then the stress would kick in and anxiety would hit and I would start to feel a little pit in my tummy.
Over the years I have managed to pull myself together and get my budget and finances under some sort of control. I have managed to cut things out that were just not needed like these 11 things I quit buying to save money
I am a firm believer now after many failed attempts at saving money that moving to a cash envelope system, for cash flow and budgeting is one of the smartest and believe it or not the easiest moves you can make.
Once you have sorted out how you will set up your own cash envelopes and get your wallet system sorted you will be so happy you did.
You can go out and spend some money on these cute and adorable cash envelopes OR if you are really serious about getting your cash saved then you will just use some plain old small mailing envelopes.
Although if like me you are a visual person plain white will not cut it so you either decorate them yourself with loads of color or buy these ones.
I think getting use to having cash again is one of the biggest things you will have to get your brain around. We have been a cashless nation for quite a while now with apple watches, pay wave, visa and master cards.
Some young kids have no idea what cash looks like let alone a check. They are so use to having their debit cards and seeing their parents use cards that they struggle with the whole cash thing.
Back in the day we use to get our payslips in an envelope with cash in it.
Not any more it is all done online through bank deposit and direct debit. More and more young people have credit cards and are getting in way over their heads.
Now once you have got the whole cash envelopes sorted you will want to get a cash envelope wallet system happening, here are some suggestions to find the perfect one.
- I didn’t want something bulking as I have a hundred and one other things in my handbag so I want a slim one.
- The wallet needs to accommodate 4-6 cash categories.
- I prefer to have my cash wallet separate from my cards.
- I don’t want to spend a fortune on a wallet as that defeats the purpose of saving money so something under $100 would be awesome even less, would be better.
After a little while you will find a system that works perfectly for you, but if you are just starting out then you might need some guidance so these will help.
What I like about this one is it comes with the wallet, 12 budget sheets and 12 budget envelopes so everything is together. I like that the wallet is black as that goes with all my hand bags but the envelopes are nice and colorful for me the visual person.
Dave Ramsey Designer Envelope System wallet
Budget each paycheck, you really must budget right down to the last dime if you are going to successfully implement the envelope system. So this Dave Ramsey Designer wallet is perfect for that: Dave Ramsey the author and Founder of the Total Money Makeover and the guy who made cash the king.
You can also order replacement refills for this so that you will always have the correct ones.
Magnetic Cash Budgeting Envelopes
These comes in 5 different colors to help you organize your cash, they are magnetic so will close even if you have loads of cash in them.
Magnetic Cash Budgeting Envelopes, Set of 5, Divide. Spend Save. Budget Your Way to Savings (Bright Budgeting)The Great Divide. A Cash Budget Wallet with 5 Magnetic Cash Envelopes by Divvy Up. (Black & Tan)
How Do You Get Started With The Cash Envelope System?
It really is easy as 1,2,3.
You first need to know how much you need to cover each of the bills, then you just withdraw the cash and pop it into the envelopes.
Don’t worry you don’t need to carry around all that cash, once you have the cash in the envelopes you can pay what you need off ie insurance, medical, electricity, phone.
Once you have the cash in the envelopes then you cannot spend anymore than that amount. DO NOT TRY AND BE SNEAKY as you will know and it will not work.
You cannot borrow from other envelopes either…
If you have a budget of $200 for groceries then that is the maximum you can spend.
You cannot use you debit cards either so once you start this cash envelope wallet system you really need to stick to it, like a diet, not cheating as you will know and you cannot kid yourself as the weight will not come off.
Stay strong, don’t be tempted and then you will succeed. AND it feels good.
The Benefits of Using Cash Envelopes
You can see what you have so you can track your spending, trust me I know if you use your debit card and just pop down to the local store grab some bread, milk and a bar of chocolate, then the next day you pop down again to the local store and grab some fruit and veges and use your debit card again, you easily loose track of what you are spending, then at the end of the week you have gone over your budget by $100-$150.
Cash envelopes keep you in line, your spending will not get out of hand. You will be amazed and how easier it is to put that bar of chocolate back when you only have a couple of dollars left in your envelope for the week.
Believe it or not but cash is harder to spend, yeah I know sounds strange, but sure is true. You can see it, feel it and realize that is your hard earned money right there in front of you. I also find it hard to break a large note for such a small item as a take away coffee so end up saying no.
I hope this has helped you decide that having the best Cash envelopes wallet system in place is the start of the new you , new decade and new savings plan, best of luck and let me know how you go with it.
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