tag:blogger.com,1999:blog-8902028401538647352.post2859226914722483750..comments2023-04-14T01:38:53.420-07:00Comments on Hesses Madhouse: Envelope System: Month 5Unknownnoreply@blogger.comBlogger9125tag:blogger.com,1999:blog-8902028401538647352.post-53939247339325970612012-02-25T15:47:22.709-08:002012-02-25T15:47:22.709-08:00Yes you can buy the gift card online@disneygiftcar...Yes you can buy the gift card online@disneygiftcard.com or at most grocery stores.Jennnoreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-35146616883240954592012-02-19T18:23:58.402-08:002012-02-19T18:23:58.402-08:00If you get a Disney card, make sure that you can u...If you get a Disney card, make sure that you can use it for something else if absolutely necessary (or what if someone is lucky enough to overfund it?). Maybe a separate savings fund for the general expenses for the family trip? It sounds like each child would have a card, and that sounds like a motivational place to park their own spending money/contribution.<br /><br />Julie, I'm interested in what you keep your cash in. Right now I'm using normal security paper envelopes and they're getting ragged. I also had to find a better purse at Goodwill, so I could get my cash out better without the rest being seen.<br /><br />We start the budget at the beginning of every month (so actual amounts in each subcategory vary each month), and try to keep the total under a certain dollar amount. This month, we did not allocate any money for gifts, but then we got invited to a BDay party for my 6-yr old's friend. We decided to use the "Family Activities" fund since half of our family went. We now have $1.25 left in Family Activities, so we will have to do fun free things for the rest of the month (and maybe get a treat/toy at the dollar store or something, or just carry it over). I am fine with borrowing for similar funds but we don't pull from funds like Grocery to pay for Gifts, etc. Money not spent one month carries over to the next month. This works great for non-monthly expenses (like clothing and activities). For monthly expenses (groceries, etc), if after a few months I consistently have too much then I must be allocating too much - then the money goes to another fund or towards saving/vacation funds.<br /><br />I like the practice of #1 paying the Lord first, #2 our basic needs (shelter, food, utilities, transportation), #3 yourself (savings, which is a function of income and investment goals), then #4 our discretionary spending which has to be adjusted accordingly with what is left. This happens at the beginning of every month, but it gets takes little time after just a few months because most things are similar. ("Spend every dollar on paper, on purpose, before the month begins" - a Dave Ramsey principle.)<br /><br />It can be tough, and our family has made some comfort sacrifices because we have an ambitious long-term goal, but we know it will be worth all this effort. We re-evaluate the long-term goal yearly (our "annual budget and goals check-up") and aren't against purposeful changes. We were just tired of missing our goals because we were not really paying attention to the budget (rationalizing borrowing from the future months and not really fixing the problem, etc.), and the cash envelope system really helps us be accountable every month.<br /><br />Thanks Julie for your tips! And great comments from everyone in all these posts. I'm learning so much!buzygrizzhttps://www.blogger.com/profile/09546713120521847027noreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-4568861276733364782012-02-19T16:48:44.267-08:002012-02-19T16:48:44.267-08:00In my "electronic envelope" system (I do...In my "electronic envelope" system (I do this for more than just groceries, but they don't all have their own account) I roll over money from one month to the next. So if we only spend $10 of our monthly clothing budget that's OK ... I still put in the whole budget the next month. There are definitely months where we spend more than the monthly allotment, but so long as we've under-spent in previous months I know the money is there. It takes a few months to "get ahead" of those spikes, to make sure there's enough to cover the unexpected stuff.Ringleaderhttps://www.blogger.com/profile/10633915941108596218noreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-67787092569542833272012-02-19T16:40:43.270-08:002012-02-19T16:40:43.270-08:00I hear you, Lisa. That's been tricky for me t...I hear you, Lisa. That's been tricky for me too--the unexpected stuff. I've contemplated putting together some kind of emergency cash fund, but I know that some days chocolate is a real emergency, and I'd be dipping into that envelope WAY too often. So, I've got to figure something out.<br />Julia, I answered your query on facebook. I hope it helps. There are a lot of videos on YouTube about how to set it up too, but they all seemed to be about two minutes long. I have a couple of good friends who've been doing this WAY longer than I have. If you want contact info, let me know. I'm sure they'd be more than happy to help you get started.<br />Jenn - What a FABULOUS idea! I LOVE it! I think this may just be the answer we need. PERFECT! Can I just get a card online?Hesses Madhousehttps://www.blogger.com/profile/17988796143736645049noreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-52010641127325786952012-02-19T14:19:59.427-08:002012-02-19T14:19:59.427-08:00We are planning our trip to Disneyland for next Ma...We are planning our trip to Disneyland for next March. What we've been doing is putting money on a Disney gift card. You can put any amount on any time and it will hold up to 1500.00. And the kids are putting some of their chores money on their gift cards especially for Disney. I really need to start some sort of budget type thing for my house. I'm just not as displined as you are :)Jennnoreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-72343805109103142672012-02-19T09:04:24.276-08:002012-02-19T09:04:24.276-08:00Julie will you remind me if this envelope system i...Julie will you remind me if this envelope system is from a book or something? I really want to try it but need to gather more info. Thanks. You can answer me on FB if you want.Julia Shinklehttps://www.blogger.com/profile/00304751545575875697noreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-34007385944338746622012-02-18T22:40:00.712-08:002012-02-18T22:40:00.712-08:00I'm trying this again...
Came up with what I ...I'm trying this again...<br /><br />Came up with what I hope is more accurate budget amounts by tracking Jan expenses, and have been tracking Feb, to make sure the amounts are good...<br /><br />So, my hardest items to figure out is things later in the year, less often expenses. Birthdays, holidays, etc. How to plan how many birthdays my kids will get invited to...does she just not get to go if we've hit the limit? How did you do that?<br /><br />Then, what to do with money left in an area at the end of the month. I'm thinking the budget amounts may be averages, such as, let's say my kids didn't need that much for clothes this month, but next month they all need something...do I just carry it over? or do I move all the extras to a fund set aside for "mini-emergencies" or unforseens? I can see this with groceries too...holidays I do spend more...<br /><br />Also, what to do about unforseen additions to income (like today we did a garage sale and got a chunk of money, or last week when I got a rebate check from the kids' school?) Should these go into a special fund for "out of normal" purchases?<br /><br />I'm just so much better with a very specific plan...and not too good at deviating, so I like to have it all worked out in advance, or I'll figure why bother and give up. That's where I've had a hard time before doing this...all the unplanned events...Lisahttps://www.blogger.com/profile/14775357852517545722noreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-43119525254278734932012-02-18T21:06:48.383-08:002012-02-18T21:06:48.383-08:00We use an "electronic envelope" system f...We use an "electronic envelope" system for groceries only: a separate debit account. We transfer half our budget into the account on the 1st and 15th of the month, and use that card exclusively (or nearly so) on groceries. Has been working to keep THAT particular category more under control.Ringleaderhttps://www.blogger.com/profile/10633915941108596218noreply@blogger.comtag:blogger.com,1999:blog-8902028401538647352.post-39298091253376546952012-02-18T20:00:44.365-08:002012-02-18T20:00:44.365-08:00My daughter used this system and felt it helped th...My daughter used this system and felt it helped them a lot with their budge. I will have to ponder on this one. Thanks for sharing your success.LeAnnhttps://www.blogger.com/profile/18107717294803352571noreply@blogger.com