You have all heard me talk about budgeting and using a cash only envelope system. I want to share the system I am currently using now. Its the wallet system I found from A time for everything (an etsy shop). Melissa is so talented and has created the cutest designed wallets ever.
Here is my wallet. Its so pretty.
Our debt story
We decided back in November of 2009 that we were tired of being in debt. We were tired of giving away our paychecks to creditors. We had enough! Until one day, I stumbled upon Dave Ramsey’s website and it changed our lives forever! We started financial peace university and changed our way of spending forever. So now at the first of every month, I sit down and figure out what we “expect” to get paid and I create a budget on excel. EVERY MONTH its a new budget. I adjust as I see fit. Some months we spend too much in groceries, or hardly spend any in gas… so I adjust. I budget to a zero balance. That means every penny is spent and placed somewhere. If my bills are all budgeted and monthly expenses are allotted, whatever is left goes into a savings acct (if we are not fully funded in our emergency fund). We like to keep $2000 in our fund. If thats full, then the rest will be used to pay down the smallest bill that we owe. And so on and so forth. Thats called the debt snowball. We have about one more year before we are debt free (minus the house and now a new car that we just recently purchased). My car of 8 years finally died on me. Once the bills are paid off, I will double up on my car payment, and finally the house. We are not perfect and sometimes fail, but we get back up and start a new day.
The categories I use for my envelope system are:
Gas ($80/pay – we dont drive far)
School ($10/wk for misc. lunch, fees, etc. They usually pack.)
Medical ($100/pay for co pays, prescriptions, eyes, dental, etc. Whats left goes into savings.)
*I use my bank acct. to pay my bills through electronic bill pay.
Today I am giving away one Envelope system wallet to one lucky reader. The winner will get to choose their fabric combination of choice (Melissa will email you at the end to show you your choice of combinations).
How to win?
1. Become a follower of ABFOL.
3. Comment here telling me if you are on a budget? Cash budget? or what budget? and how its working for you.
4. For all extra entries: blog, facebook or tweet about the giveaway (let me know you did).
Good luck. The giveaway starts NOW and will end at midnight on 1/16.
Whats in Melissa’s shop?
Envelope system walltes
Envelope system kits
Band it envelope systems
Cash stash wallets
Stuff for kids
Kids “Give, spend, save” pouches.
Custom made labels.
A SPECIAL OFFER
Not only am I giving away a cash wallet, but Melissa is offering FREE SHIPPING on all IN STOCK orders through her etsy shop during the giveaway week. Just use the code LEMONS at checkout. (Here) is the link to her website.