It was at home safe in its little envelopes.Īnother way to use the cash envelope method would be for me to have given myself a going out budget. I couldn’t overspend now as I didn’t have access to that money when I was out. To combat this, I took the temptation to overspend away. ![]() I acknowledged my issue was over spending on nights outs. The first step to using cash envelopes is to look at your finances and see where are the biggest issues and start there. How to Start using cash envelopes in your Budget Now when I went out, I could only spend what was left in my bank account. This way I was taking care of my essential bills first. I divided this by 4 to get a weekly figure of €150. My rent was €550 per month and electric was about €50. Each week when I got paid, I removed the money from the bank and put it into the envelopes. I got two paper envelopes and named one Rent and the other Electricity. Why is the cash envelope system good for beginners to budgeting.How to Start using cash envelopes in your budget. ![]() On a night out I would just keep tapping my card, not paying attention at all to how much I was spending. But because I just didn’t manage my money well at all. I was a young professional just moved into an apartment in the city centre and I was loving life, a little too much.Įvery month I struggled to pay my rent and electricity, not because I didn’t earn enough. ![]() It began back in 2010 when I first moved out of home into my own place. I started using the cash envelope system way back before I even knew this was a budgeting method. If you make any purchases through these links we may receive compensation by way of payment or vouchers.
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