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The effective (and old school) envelope budget.

Video Transcript

There is no such thing as a one size fits all budget. We all like to handle our money in different ways and I actually think there is a budget method out there that can fit each of us.
So let’s talk about the envelope budget. This budget is a spin on the zero based budget which is where your account for every dollar you earn by assigning it to a specific expense or savings goal.
With an envelope budget, after determining what all of your expenses are, you grab an actual, physical stack of envelopes and label them with each of your spending categories.

Next you withdraw as much cash as you need to fill each of your envelopes. So for example, if you need 500 dollars a month for groceries, you would take one of those envelopes and write groceries on the back, then you withdrawal 500 dollars in cash from your bank account and place it into that newly created envelope.

Then, every time you go to the grocery store you either take the entire envelope or just the amount of cash that you need and then you would spend that. And once that envelope is completely empty, you're not allowed to spend any more in that groceries category until the following month.
And then you would just repeat this process for all of your spending categories. So, if you're someone who has a problem with over spending, and likes to use cash, give the envelope budget a try.