From January to June, anything that was leftover from the week's jars, went into their corresponding envelopes. My categories are: Gas, Groceries, Household, Spending and Dining. I have to admit it was really fun to watch the 'extra' grow in the envelopes as the months passed. Here and there the money was dipped into. For example, I used $250 from the Gas envelope to pay for my package policy when it was due in March.
It's a very informal kind of 'savings'.
I didn't keep that same system for the summer as expenses were different. That is something I'll have to fix for next year. It was nice though to have that money stored away when I needed it. I used most of the household money when we were purchasing shrubs and gravel for the front yard. I used the dining out money when I was in Toronto. I used my savings money for the dining out we did for our five days of hockey camp. I have a bit left in the household and a bit left in the gas envelope so now I have to decide if I want to keep those as extra in those envelopes, or if I wish to take that money and apply it to a target, say a lump sum payment on my first loan.
It's nice to have that kind of decision to make.
Tuesday, Nice weekend!
1 day ago
3 comments:
Way to go! It's amazing that after scrimping and saving, you can still have money left over!
I like your envelope system. Does your husband go along with it?
D - nope he sure doesn't. Makes fun of it even. Long story. Our finances are separate. He pays mortgage, hydro and power and his own things. I pay rest. In theory, bills are split 1/3 v 2/3 as our net is different.
Not what I would recommend to others,but I was 19 when I got engaged and knew diddly squat about what 'happy couple finance' should look like.
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