I didn't believe the envelope system would work until I tried it for groceries

I always figured cash envelopes were for grandmas until I blew $150 over budget three months in a row on eating out. Last Tuesday I took out $300 cash for food and when the envelope was empty, I actually stopped spending. Has anyone else found a weird trick that actually changed your habits?

2 comments

2 Comments

taylor3053d ago

Is it really that serious though? I tried the envelope thing for a month and ended up just taking money out of other envelopes when I ran out. It's not like the envelopes have locks on them. Plus who carries cash anymore? I lost $40 once when my wallet fell out of my pocket at the gas station and that was the end of me trusting cash for anything important.

calebm463d ago

Yeah the "just don't take money from other envelopes" advice always sounded like telling an alcoholic to just stop drinking. I read some article that said the envelope system only works if you're already good at sticking to a budget, which kind of defeats the purpose. @taylor305 most people I know who tried it just ended up shuffling cash around like you did. The cash thing is real too, I had $60 fall out of my jacket pocket at the laundromat and never saw it again. Digital tracking apps are way harder to cheat because you have to manually move the numbers, it stops you in your tracks more than a physical envelope does.