My Envelope System Explained | Sinking Funds, Monthly Expenses
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- čas přidán 22. 05. 2018
- Hey everyone! In this video I'm explaining the different categories I have for my envelopes, and where I keep the different types of envelopes. If you have any questions, please let me know in the comments and I'll do my best to answer them!
- Krátké a kreslené filmy
I subscribed when you said “I do this because, I’ll swipe my card like there’s no tomorrow... like the money doesn’t count” lmao sounds exactly like me.
Glad I found you today!!!! ❤️
That’s def me I have to start saving this video is great. I do leave some money for my bills that are with automatic pay. I’m a server so I have cash
I just found you! You’ve inspired me. My main problem is food spending. I also should plan ahead for my car registration and maintenance. I like the idea of how you divide it into two checks.
Lorraine B this is my main problem too. I spend sooo much on food 😩
😩same here, I am always buying food.
same here. the grocery store kills my budget
You should sell these planners and envelops! I’d definitely buy them
Skye Witmer I want some. Can you send me a picture of them? you can dm me on instagram lol @ayemckaylaaa
Girl, you are about to save me SO much money 🙌🏼 you are so inspiring! Thank you, thank you, thank you!
I do this already, but I do not have those envelopes. Love the idea and so cuteee. Need to make my own. So cuteee
how do you figure out how much you need to put in each envelope because i want to try this but i have no idea how much i should be putting in my envelopes.
When figuring out how much to put in you first need to take your income - expenses what’s left you decide how much goes in the categories that are important to you.
You could try looking into the 50/30/20 method, I’ve seen a lot of videos that combine the envelope method with this and they’ll break down exactly how much goes into each envelope from each check. Hope this helped!
the best and most efficient way i do this is by choosing a goal of when you want to have the certain amount of money in my envelope, and then count the paychecks you get before your goal and then divide the total by the amount of paychecks. if you don’t have a specific timeframe, then first figure out how much of your money goes towards bills, monthly payments, etc. and with whatever’s left, decide what percentage of it that you want to devote towards whatever you are trying to save for. say you wanted a car but there wasn’t a specific deadline that you want it by, you could devote 20% of your leftover paycheck towards that! hope this helps!
Im actually oposite i spend money if i have it on me cash lol .. i dont like using my card .. so im so using your technique but bills money ill put it in the bank and the rest keep it in envelopes ... im actually very excited lol
itsOURvida this is a good method! I'm like a mix and I'm glad to see someone make the system work to their needs :)
I’m the same way!
Loved the envelopes, adorable! Thanks for the breakdown, I really appreciate it!
I’m also saving to buy a MacBook and this video made me so inspired by sinking fund idea 💡😊 thank you
So so happy to hear it! ❤️
Ive one watched 2 of your videos so far and you've inspired me so much! Since the beginning of the year I have been thinking and wanting to start a budget, an use the envelope system. However I've been seriously procrastinating on it!! Now I only wish I would have started sooner! 😖 Thank you for doing these videos, I'm definitely gettint started on it tomorrow, thats it!!!
I'm so so glad! Best of luck, I hope it works out great for you! 😊
Hello there, thanks for the great video. I would love to see how you do the budget planner, it looks very cute. By the way I made my envelopes today:) they look great, even my husband liked them!!☺️😊💕
I can’t wait to get this system started. I had a breakthrough this month when I realized that my husband and I had 13 overdrafts this month alone and I have been allowing the account to be overdrawn for over a year. 🤯
Oh no!! I hope you guys can get on a budget together and control your spending! If you have any questions, please don't hesitate to ask!
Cute envelope ✉️ designs
Wow your so organized, keep posting videos 😊
I would love to see how you set up your budget in the notebook. I want to set one up like that, I don't really want to spend the money on an Erin Condren and your notebook looks amazing.
this is the cutest idea, ever ! i have the day off tomorrow and i am without a doubt going to do this
i love your videos and the more you upload the more i watch. going to buy envelopes right now. inspired. ♥️♥️
Love this idea, so excited to try it because i find myself never knowing how much to put in savings because i never know what will come up.
Omg yesssss I needed to see this video!! Thank you so much for sharing this greatness! New sub 😁
Single mom and trying to become debt free, I love this system you have!
It was easy to add a checking account online at my credit union so I made one for bills only, nothing else. I don't carry the card or anything and I know if I spend even a cent of it, it might overdraft. I just can't spend the money. Each month I just leave in the amount of money that covers my bills and put the other money wherever it goes. I have a bunch of issues with the other parts of my budget (short term sinking funds mostly) but having a separate bills account fixed a ton of problems. It makes my life so much easier
❤💙💜 starting next month so excited
So inspiring! I love this! Just subscribed 😁
I love your wallet!!! So nice and convenient.
I have the same issue with my plastic cards and I prefer to use cash. Helps to watch it dissappear so I spend less. I'm starting this system this week and hope to be successful with it. I want to keep money on my account for monthly subscriptions but other than that, I want to cash out everything else. I'm glad CZcams recommended me this video yesterday. Thank you for this method. Oh and Im using plastic dollar tree files with the white push clasp things and cut them up and taped up all but one edge to make my envelopes. Already had them and I hope it works for this since the laminator wasn't in my current budget.
Here in Middle East we have different way of paying our bills and other things. we use online application for mobile bills , elictricity, or debit card for petrol, grocery, kids institues, shopping. I have only 100 to 130$ a month in my wallet for kids if they want to buy snacks or for resturants that dont have debit card machines. I like ur envelopes and the way u arrange ur buget. Here we use everything online which is easier to save time even for money transaction there is app to our saving accounts.
Great video, it’s my new addition to my life so I enjoyed your prospective on it😉
I really love this!!!! I need to start ASAP
Hi AlyssaGreat video!!! Its very informative. Are you considering selling the envelopes. If so, I sure would like to purchase a couple of sets.
Love your spiral basic notebook. For budget.
I totally appreciate your videos!!!! 💙💚❤💛💜
Amazing video & loveee your cute evenlopes! Will watch the video how you do it - new subbieee :)
nice video. cute envelopes
Love this idea!
if your a student how are you making $1000 every paycheque if you don't mind me asking? i am going into uni next year and i only get around $400 every paycheque and i would love to be able to save more
right? and she said she works from home. Im honestly shook, like where?? O_O
she said in another video something about investigating frauds with an insurance company, but doesn’t want to get to deep into it
Elle Rasmussen oh okay thank you!
College student here and same about 400$ every check 😞
Sometimes It’s about where you live. She once said she lives in Southern Cali, so that can be a huge factor because the living expenses (even tho maybe she doesn’t really have rent and etc) cost a lot more.
When you put away money for subscriptions like Spotify or Netflix or even mail in bills - if you don’t have anything on a debit card/in a checking account how do you go about mailing in bill payments or automated card paid subscriptions?
I think I found my way of budgeting!!! I am the kind of girl. If it's out of sight out of mind and thus perfectly help me with that :)
Very nice and helpful
Rewatching this as I start a new set of envelopes (well, I’m doing them in pill bottles instead as it’s waterproof compared to my envelopes)
what do you mean by zero based budget? and avoiding overdraft fees explained more in dept would be great! I just started watching you and love this idea! I want to change/keep track of my money and not spend so much so i can save at the same time.
What’s your at home job !? I’m really interested in working from home, I have a pretty far commute and It gets expensive with gas prices rising
New Subscriber here. Love the channel.
I’m trying this and it reallly works !! I need that wallet
How do you make your labels? What type of tape do you use? I’ve gone to the Dave Ramsey classes, but never had the motivation to follow through and start budgeting. You’ve inspired me! Can’t wait to start!🤗💵📩
I just write on a piece of paper and then laminate that piece of paper, and then use double-sided sticky tape to adhere them to the envelope. So glad you're feeling inspired 😊
Hi Alyssa, New sub here. I found you on the front page of myCZcams. I hope to have as many subscribers as you have some day! ❤❤❤
I would LOVE to find a work from home job. What do you do, if you don’t mind me asking? Also, I love this idea! I’m going to look into starting this myself! Thank you so much
How do you split up your bills to put in each envelope? I recently bought a planner and made cash envelopes to start my saving journey !
I was doing this but with big plain white envelopes and it didn’t give me the drive to do it. But these envelopes are so cute! Are you going to start selling them?
Thanks for your help
I love your wallet!!
I did like the idea of taking the expenses and making a weekly break down of how much one needs to save each week. Or every two weeks. A 15 day check in sounds good. Although I don't think keeping cash in the locker is a very smart thing to do. Money doesn't work like that. Keeping cash around for more than a month sounds wrong to me.
I hope you see this comment, but Apple actually has deals for college students ($300 off) AND you can trade in your old MacBook for even more off (I got $150 off by trading in my 2009 MacBook Pro) for a total of $450 off! If you go on Apples website there’s a page where you can enter the general condition and serial number of your current computer to get an estimate of how much you’ll get for trading it in! Also if you go on Black Friday, I believe there’s no sales tax (could be wrong though)
what do you do for a living from home?
Do you save money to put in your savings? To buy further things such as a house?
I'm currently following Dave Ramsey's baby steps to the best of my ability. He recommends that you pay off your debt before you start saving for things like the down payment for a house. So I will be doing that as well as cash flowing my college so I don't have to take out loans. Then, when I'm working in my future field, I will start saving up for a down payment!
I would love to know what you do for a living, if that isn’t too much to ask😅 working from home sounds amazing always looking for ways to do that. ❤️ love your videos.
I posted a Q&A video about working from home 😊
what is that movie pass thing that you talked about I love going to the movies but it's not in the budget but for $10 a month that's a good deal please share so I can sign up
Autumn&Avant's mommy go to www.moviepass.com
Roxanne Gutierrez thank you
As of last Thursday, I'm down from driving 80 miles a week to 28 miles a week. Always budgeted $30. Let's see how low the gas budget will go. I'll be able to allocate the extra (estimating $15 a week/=$60month) as a good chunk toward the principal of my student loan. $5K to go.
most bills are paid online, so do you put the money back in the bank to pay those bills
So how do you go about bill paying? Most of mine is done online, but I still very much want to do this. Any tips?
What do you do for a living? I know you go to school, but like for a job wise?
Omg I did the same I had to put my top braces back on 🙄😩 🤣 I had them in high school and I’m 22 now and put them back on .
What do you do with your remaining 2 paychecks per year? Getting paid every two weeks = 26 paychecks/year but budgeting for 2 paychecks per month = 24 paychecks/year. I do my budgeting by figuring out how much I'm spending in a whole year and then diving that by 26 so each item is actually a little bit less from each paycheck.
New subbie here 🤗
How did you make these such cute envelopes? 😊
Ok ... I have a question... what if my husband wants a beer or if I need some Tylenol or let’s say my daughter needs some .. I don’t know cramping pills 🤔 do this belong under grosseries?
we live paycheck to paycheck. How do you initiate the money to save...ahead? work in progress?
What a great question! In the beginning, it's definitely hard. Especially to get in a position like where I'm at, where most of my bills are completely paid for before they are due. You have to do anything that you can in the beginning to get that income up, and to pair down expenses. Usually, there is SOMETHING you can knock out of your budget in order to make ends meet. Are you on a strict written budget where every single dollar has a purpose written down on paper before you spend ANY of your paycheck?
+Alyssa Nicole not yet. but I am watching your videos and learning a lot! Thanks so much!
I love problem solving so I'd be happy to help you any step of the way that you feel like you need help! ❤️ so glad my videos are helping
Alyssa is right. First step is to make a written budget to see where every dollar should go. So.ething I found that help a lot...i pulled my last 2 bank statements to see what I was buying that wasn't needed. Eating out, makeup, kid junk. And I cut out things I could live without (i.e. cable and gym). To get extra money sell stuff from around the house on the Facebook groups and other places. If you can work a part time to get extra money that's a great start to get going. ❤
Elyse Coil the app every dollar holds me accountable for every dollar counts.
I have been trying to find your store with these, did you ever make it? can someone attach di link
Love the envelope designs, are you selling any?
What is your job from home? That you are able to make that kind of money.
What kind of work from home do you do? 😊
When you have left over money after paying all your expenses, do you put that extra money towards debt right away (like the same day you got paid) or do you wait until the next pay day to put money towards the debt?
I'll usually wait! So let's say I'm tackling my MacBook loan, which is what I'm doing now. That is due every month on the 5th. So I'd save the amount I'm putting aside for my debt from those two payments and then pay that on the 5th! Unless it's the last payment that's completely paying it off, I'll make that payment whenever I have the money to do so! I hope that makes sense.
What do you do to work from home?😍
What job do you have that has you stay home ? I’m just curious
I want to start doing this cause my husband is terrible about using the debit card like crazy and not caring but I’m a little confused. For example an Internet bill If you pull everything out in cash do you send the company cash?
The Hingers she puts it back into the bank when the bill comes around I think. She just takes it out when she gets paid so that she doesn't spend it 😊
What type of work do you do at home?
It's good that you want to pay your BA with cash. Student loan is horrible and stressful! Interest is what kill students.
I agree, it kills me to see so many people so deep in student loan debt
What kind of work do u do for you to work from home
How do you deal with change?
So after you put the cash in envelopes how do you actually pay the bill? Put the cash in the bank and pay online? Or get money orders?
My system has completely changed recently! I used to re-deposit the money but if you check out my video "Changing how I do cash envelopes" you can see how I do things now! All of my bills are kept completely online.
Once you meet your goals on one envelope... for example car maintenance... do you keep adding money into it or do you just stop?
also... if you go to the store to buy clothes from your clothing envelope, are you allowed to use as much $ from the clothing envelope that you have or are you limited to what is in that specific envelope?
Hi there you stated you work from. Where do u work or what do you do ?
How do you pay your bills if there's no money in your account? Like, if your bills or subscriptions are taken out from online?
Do you just make sure you get to the bank on time to deposit the cash? Also, what if you get paid in direct deposit, do you just go to an ATM or the bank to get cash out?
this is genius but can someone explain how you put all that money in the envelopes like do you withdraw the total costs and separate them in the envelope then go back and deposit in the bank for bills or ?
Where can you buy them
So then your money isn't building interest? I just have a debit card but am curious how you do this...I like the idea
I like your wallet, can you please let me know where to purchase them..
Also, love your videos..
Really late but she said in another vid tjs max lol
Where is the best place to start with Dave Ramsey?
Melissa Petticord I began admitting that I am overspending and it’s got to stop. I find the reason why I want to be out of debt. Then go into my budget planning using the EveryDollar app. Now I’m learning about cash envelope. 😄😄 hope this helps a little bit.
Read The Total Money Makeover
You can read more information on his website: www.daveramsey.com Click on get started and read the Basics. Also you can order the Money Makeover like Kayla suggested. Get it on the cheap side and check it out from your library. If you want to keep it longer, check your local goodwill or second hand store. I've seen them there plenty of times. Then start your envelope system. Good luck
@@LV-oz5xu ....Thank u...thrift stores here I come...
Do you have your $1000 saved?
How would you set up a budget when your paychecks and income in general aren’t set and change all the time. I’m a server and bring home cash tips every day which makes my paychecks pretty small in general and harder for me to keep track of how much money I’m actually making and where it’s all going
This would take a lot of discipline for sure, but I would set aside what I make in tips every day and NOT TOUCH IT for 1-2 weeks, probably 2 most likely. But all of that aside in an envelope and then every 2 weeks, see how much you have in that envelope and make your budget! So basically you're "paying yourself" every 2 weeks, instead of spending it just as quickly as it comes in and then basically not knowing where all of your money comes from! And then I would use an app like "Hours Tracker" to track the hours you work so you have some sort of idea of how much your paycheck will be on top of that. This way you can see if you're scheduled to have a really low week for yourself, and maybe you can ask for an extra shift or something to make your "usual/average".
Then every week or two, whenever you get paid, sit down and see how much you got this week and write out that zero based budget. When you have some flexibility in your budget/unpredictability, things would definitely be different from week to week, such as some weeks you probably wouldn't be able to put as much into the "fun" things like saving for Christmas or clothes, but you could totally do it and I think people would be really interested in seeing your budget in a video if you wanted to make one once you get it down! Please don't hesitate to let me know if I can help further in any way!
When I was a barista my rule of thumb was any tips made over say $50/day I allowed myself to keep $5 for spending and everything else would go into a safe, if I made less than $50/day in tips it would all go into a safe. I would live off my paychecks plus or minus the extra $15-25 a week I pulled out of my tips for the week and then at the end of the month I would count up all my tips and either put them into savings or use a portion for non-essentials or any debt I had. To keep me from spending them even more I wouldn't change them out for bills larger than a $5. It takes dedication but basically I trained myself to "forget" about my tips as they were not always garunteed income.
Hmm, I could see how that would work but I don't make much at all in a paycheck cause my tips are mainly card and therefore get taken out of my check and so I need my tips to pay bills.
How do you keep the side of the envelopes from coming apart
You definitely have to cut far enough away from the seam to prevent the "seal" from opening. Definitely leave a good 1/4" gap or so. The only thing you want to break the seal on is the top.
When are you going to restock the envelopes on etsy?
johany barragan what is her Etsy called?
What if you get robbed at home.... idk I am very organized and don’t spend money even if it’s in my bank account but leaving stuff at home especially money doesn’t make me feel safe just wanted to ask you on you thought on what you’d do if you did get robbed. (Let’s pray that never happens)!
She has a safe that she puts her money in
When you are making them where do you get the paper
Michael's, JoAnns, Hobby Lobby even Wal-Mart has them in the Scrapbook section
What of you run out of gas before your next paycheck?
I would love to do this but I run into problem like I would be scared because if I lose that cash it's gone instead if I lose my card I can freeze it and get a a new one
That is definitely something to be worried about, but for me it is worth the extra effort it takes to be responsible and organized with my money, but be able to be successful with my budget in exchange for that. I've never lost money, I just make sure I'm extra careful.
I have a safe (bought it on Amazon). I keep all my envelopes in there. You don't have to walk around with your envelopes.
where did you get those nice envelopes?
She made her envolopes.
What size are the envelopes?
The smaller envelopes are 7"x3.5" I believe and the larger ones are 8.5"x4.5"
Where did you get your envelopes from?
I made them myself! 😊
How do you make these cute envelopes?
Regina Villalobos she made a video about it!
Maryan Thank you
What job do you do??
Where did you get your safe????
Amazon! 😊
Can you please link it here! Thank you
If you keep no money on your debit card do you worry it’ll overdraft on accident? This is my biggest fear.
Absolutely, that's a totally real fear! I like to keep $15-20 on there just in case, but I also mark any dates that I have something coming out of my account automatically in my planner, so I know when I need to make sure money is in the account. It totally still can happen though, like when a family member accidentally uses my card on our shared amazon account lol it has DEFINITELY happened but I try and just roll with the punches and learn from it!