Thursday, July 14, 2011

My New Cash Envelope System

Over the last few weeks, I have been thinking alot about setting a firm budget.  So at the beginning of this month I decided on a lump some of money that we would withdrawal and use for all the non-bill things that we needed.  Well, that didn't go so well. :(

So I did a bit more studying up on the cash envelope system and decided that that sounded like a more reasonable idea.  To have a system set up with envelopes designated for certain categories.

So I headed to the dollar store today and bought a cute coupon organizer (with colorful flowers all over it) and put new labels on each divider.  Then I had to sit down and decided exactly what categories I wanted to set money aside for and how much for each category.  That was the hardest part.  But after about an hour and a half I had it figured out.  The organizer has 12 dividers in it, which is exactly how many I need.  



The categories I came up with are:
  • Groceries...weeks 1 - 4
  • Case-Lot Sales
  • Household
  • Baby Needs
  • Entertainment
  • Clothing...one section for each of us
  • Receipts

Then during dinner, Matt and I went over the plan I had laid out and talked about what we thought of each category.  And he was just so sweet.  I guessed on the low side of things just to be safe and frugal.  But Matt told me his opinions and what he thought might need more money to work out realistically.  He really is the most caring husband a girl could have.  And we even have personal money budgeted in.  It's just a relief to know that if we want to buy something fun we can!

So it is a big relief to know that I have a system in place for next month and to know how much money I'll have to spend.  I'm very excited to see how things will go.  And an exciting part is that what I don't spend from each category this month, will roll over into next month.  I''m excited to see the clothing budget add up ;)
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