Does anyone use this? If so, does it work well? IT is called the Dave Ramsey Envelope System
On a budget? Still over-spending? Trying to figure out the best way to organize your finances and spend wisely?
I found out that Grandma's way to handle money still works. People used to always use cash envelopes to control their monthly spending, but very few do in today's card swiping culture. The envelope system is a key component of the Total Money Makeover plan because it works. Here are a few simple basics for starting a cash envelope system:
Certainly, some bills may come in at different times of the month, so you'll need to adjust your written game plan to take it one step further. You need to plan the budget based upon your pay periods.
Say that you get paid twice a month. If you can write down which bills you plan on paying from each paycheck, you will not be left with a surprise bill. Spend each month's income and each individual paycheck on paper before it comes in.