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Post by apryllraye87 on Nov 18, 2011 8:04:21 GMT -6
I've seen a few of you ladies stating that you use Dave Ramsey's cash envelope system or something similar. I would like to try out the system but I have some questions.
Do you set our your cash weekly or monthly? Or just everytime you get paid? I get paid bi-weekly but SO gets paid weekly. I am nervous about putting all the cash for a month in envelopes because what if it got lost or stolen?
I think I'm going to buy a little safe to put the cash in and that way we can each sign when we take cash out.
If anyone has tips that might help I'd appreciate it! TIA.
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Post by bumblebee23 on Nov 18, 2011 12:02:17 GMT -6
I don't know anything about that system but I am finally in charge of all the money for our household now. I made a list of all our expenses including mortgage, heat, electric, cable, water, and car insurrance I figured out what the bills would be roughly a week (that is how often we are paid) so I know that is what needs to be set aside each week. I have two different check registers one for bills and one for others. That money sits in the account and then when the bills come due I have the money in there to pay them.
I have been able to catch up on the house bills and our mortgage just figure this part out....it also helps that the responsible one is in charge of all the money. I hope that once we get a couple other things done I will be able to give my kids an allowance and start putting money into a savings account. I have it all figured out just hoping we don't get behind again this winter.
Good luck!
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Post by apryllraye87 on Nov 18, 2011 12:32:46 GMT -6
I take care of all finances for our household also.. and I do have a list and a budget but having an impulse buyer for a boyfriend doesn't help I want to have set envelopes so that we know what we can spend and once that money is gone for the week/month, its gone. No more spending. When he has a debit card or checks he knows he can just go buy whatever if he "really" wants it, or with me I tend to buy "small" things over and over (a coffee here, burger king there, etc.) and pretty soon we have nothing left to save.
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Post by outdoorsmommy on Nov 18, 2011 15:03:22 GMT -6
We take our cash out weekly. I get paid weekly and my husband gets paid bi-weekly. When we teach the class we tell people to take out the best that works for them some do weekly, bi weekly and even monthly. It will take awhile to get use to having only that much cash and not spending. It will take a couple months to get it right but once you do it will all work out. If you can I highly recommend taking financial peace university. Message me if you would like specific info or else ask on here and I will answer everything that I can. My in laws have taught the class for 12+ years and my husband and I taught it for a year now and were group leaders before that.
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Post by outdoorsmommy on Nov 21, 2011 12:58:05 GMT -6
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Post by apryllraye87 on Nov 21, 2011 13:17:18 GMT -6
Thanks Sara, I'll check it out!
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