Friday, April 2, 2010

Finally Giving in to the Envelope System

I decided to try the envelope system for my eating out and drinking out expenses. I have been reluctant to try it in the past-I don't trust myself not to spend the cash elsewhere-but I am committed to sticking to it for at least this month. So, today I went to the ATM (just found out the one at 7-11 doesn't charge fees) and withdrew $200 for the month. I know that's higher than some people spend, but many of my friends think that's a low number. I am curious to see where I land with it. I think knowing that's all I get will hold me accountable to spend less, but we'll see.

I also walked to have lunch with friends, walked to the ATM and am now about to walk to the post office. Since I am carpooling to church tonight (it's Good Friday) that means I get another No Drive Day. :) I am pondering some rules for myself to make more of those possible, so stay tuned for that in another post. I know, you're on the edge of your seats. Try to control the anticipation.

1 comment:

  1. If the dining out and drinks is a big part of your budget busters, then this system should be very good for you. There is nothing like paying cash for these things and seeing the physical amount of cash dwindle. Really is a motivator to want to keep the money in that envelope.