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Kelly
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  • Jacksonville, NC
  • United States
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Kelly

Envelopes!

This week in Keeping Pace we are learning about the envelope system of keeping track of your money. It's where you cash out your paycheck each month, and put all of the money into envelopes according to what needs to be paid and then you pay off your bills that way. For example:

Housing $900
Electric $150
Water $75
Grocery $450
Daycare $350
Entertainment $200
Car Pmt $200
Insurance $50


So you would just label the envelopes and put the money in them and then pay you bills with cash.

This syst… Continue

Posted on November 3, 2008 at 10:57am —

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At 3:42pm on December 9, 2008, Brian Jefferies said…
I'd like to learn more about the envelop system. Can you suggest a resource? Thanks
At 10:29pm on August 26, 2008, Kristine said…
Hi Kelly, glad you joined BeatingDebt.org. How did you hear about it? I am trying to save some, give some, spend some, so I can have some, while beating my debt, how about you?
 
 

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