Budget each paycheck. Budget is a dirty word to most people, but you must budget down to the last dime if you're going to successfully implement the envelope system. Divide and conquer. Of course, there will be budget items that you cannot include in your envelope system, like bills paid by check or automatic withdrawal. However, you can create categories like food, gas, clothing and entertainment.
Fill 'er up. After you've categorized your cash expenses, fill each envelope with the money allotted in your budget. For example, if you allow $100 for clothing, put $100 in cash in your clothing envelope for the month.
|Product dimensions:||4.10(w) x 7.30(h) x 1.20(d)|
About the Author
Dave Ramsey is America's trusted voice on money and business. He's authored five New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership and Smart Money Smart Kids. And check out his new products: Financial Peace Junior and Junior's Adventures Storytime Book Set! "The Dave Ramsey Show" is heard by more than 12 million listeners each week on more than 575 radio stations, "The Dave Ramsey Show" channel on iHeartRadio, and a 24-hour online streaming video channel. Ramsey Solutions offers a suite of products and services to help people get control of their finances and other aspects of their lives. Follow Ramsey on Twitter at @DaveRamsey and on the web at daveramsey.com.