Budget With Me | Cash Envelope Stuffing + Cash Envelope Method
ฝัง
- เผยแพร่เมื่อ 1 ต.ค. 2024
- Stuff your cash envelopes with me! Today, I am showing you the step-by-step process I go through to stuff my cash envelopes every time I am paid.
I started using cash envelopes back in 2016, and it was an absolute game-changer for my budget. Cash spending was the missing piece that I needed to make my budget work for me in ways I never imagined. When I started using cash envelopes, magical things began to happen.
I was able to track my spending more efficiently, I was able to make more significant debt payments, I hit my goal of saving my first $1,000, I successfully saved more money and went on my first all-cash paid vacation back in May of this year, and so much more!
➡️ HOW I TRACK MY SPENDING: bit.ly/3aIe89I
➡️ MY WALLET (AFFILIATE LINK): bit.ly/2w4u5s9
➡️ HOW TO USE SINKING FUNDS: bit.ly/3gZ9poc
➡️ SINKING FUNDS ENVELOPES: bit.ly/30rpr4D
➡️ THE BUDGET MOM'S FINANCIAL FREEDOM STEPS: bit.ly/3cfJXsp
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD: bit.ly/2vQJaO5
➡️ SUMMER THEME CASH ENVELOPES: bit.ly/2MC7Ezu
➡️ CASH TELLER SLIPS: bit.ly/2XDKgYz
ABOUT ME
I'm the blogger behind www.thebudgetm.... I have a rambunctious 6-year-old son, live in Washington, and I'm passionate about helping people with money management and personal finance. Let me know what you like to learn more about! Leave me comments and suggestions on my video and let me know!
YOU CAN FIND ME AT:
📝 BLOG: www.thebudgetm...
📘 FACEBOOK: / thebudgetmom
📸 INSTAGRAM: / thebudgetmom
📌 PINTEREST: / thebudgetmom
GET STARTED
➡️Start Here: www.thebudgetm...
➡️Free Email Course: bit.ly/2UYgNFf
➡️Free Resources: bit.ly/2PDmTHz
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMTH-cam bit.ly/2CR7U9n
I am a visual learner, this was a great video.
When I get my money home, I "play bank". Just like the game Monopoly, I make a pile of 100's, 50's, 20's, etc. Then I stuff my envelopes. It makes it easier for me. Great video.
Oh WOW! Now THIS is an idea I can rock wit! Do you vids on this? Nm Bout 2 watch ur channel
Literally what EVERYONE else does already
I play bank too....and pretend to buy Mayfair ;)
This is the luxury of pre-inflation. Those were the days.
When you realize here in Canada, we don’t have $1 bills, but $1 coins... making it a hell a lot more heavy to do this system😭
Seriously, this is where you think outside the box. Australia has $1 denoted in coin too. So I do $5.
Make your budget $5 based so you can use bills
@@MarysCashStuffing 😭😭😭
I use a cashless system that involves board game money. 😂 Every dollar matches a dollar in the bank. I also create my own challenges and envelopes and budget based on $5 increments.
Slovakia and countries in the Eurozone have coins as well:
• 1, 2, 5, 10, 20, 50 cent coins (1 & 2 cent coins are "eradicated", they're not accepted and evem vending machines reject them),
• 1 and 2 euro coins,
• 5, 10, 20, 500, 100, 200 euro bills.
I keep saving up my coins (except 1 & 2 cents) to condense to at least 5 euro bills, so it's tough 🤣
I always like watching your "how to" videos even though my amounts are much less than yours. I add $5 to each sinking fund every Saturday, but I'm still seeing growth. I get paid every week and this method has saved me from using my credit card on several occasions this year.
I add only once a month 5€ to most of my envelopes
Every cent/penny COUNTS! It all adds up.
Ditto
Confused on sinking fung
@@sandraholmes4262 sinking funds are things you want to save for that might put you over your budget if you didn’t save a little each month, like Christmas, birthdays, and vacations. When you set aside a specific amount for each item, you don’t have to come up with a large sum of money all at one time.
I worked retail for 35 years and watching you turn that money every which way made me crazy, lol
@13:08 "as you can see, my christmas envelope broke on me, cuz it is 🎶 so full of munnneeey🎶😏 #happymiko
Side note: I write this because this is a little moment of celebration for how long she has been saving this money for. We all have a moment when we sing when we see us reach a sinking fund goal or see it growing. Please know I am not mocking Mico I think it's great how she's managed her money so she can have a moment of Celebration and knowing she will have Christmas covered financially :-) Hi-5 Miko!😁🖐🤚✊👊🤜🤛👊🖐👍
This is great, I follow Dave Ramsey and it’s been working great, but all the nitty gritty details to make the baby steps into black and white practical steps takes practice. I have my method down after months and she just presented it clean and organized in 20 min 👍😁 awesome!
I just have to say this video is a LIFE SAVER!!! I am a new college graduate and am looking to get a head start on my life by budgeting! I have been researching methods the past couple of days but I am seriously sold on this method. It's visual and keeps a hard look at what money you do and don't have! Thank you for helping me!
I love that you're planning for next year already, I love watching your videos to a debt-free lifestyle. I wish I learned this even sooner!
Yesss I loved seeing the full process. The cash stuffing and coloring in is the best part and I understand why you normally spend it up but it’s so satisfying
Maybe Ryen could do a stuffing cash video too with her budget??
Oh I'd love to see that aswell
Christina Knepp yes to this!!
Yes please!!
Yesss :-)
Me 2
This was a good video. But I was a little stressed out. I budget but this is a whole other level. Some of these I would just have in savings for like next year birthdays and things but you do you I guess
use a pencil to write on those envelopes and reuse them .. less waste of resources and money ..
I envy your method for saving money and spending!!! My concern is ithe cash envelope system, I hope you keep these cash envelopes in a safe when not in use!!! Fabulous ideas for spending money this way!!
“Cause it’s so full of money” 😂😂😂😂 ILYSM that cracked me up.
You actually inspired me to start my own budgeting journey and I used your videos for research so thank you so much!
When do you plan on having the budget by paycheck workbook available? I've been wanting it for months. So excited for it!
I have your cash breakdown slips...my tellers love them.
For James’ Bday envelope.. $92 + $23 does NOT equal $116, as you added and wrote on the envelope. It’s $115. You may want to correct this so you’re not off balance later!
What happens if you’ve reached sinking funds for 2021... do you automatically move on to 2022? Like Chris’ bday where you’re almost done for 2021.
For sinking funds do you ever switch out smaller bills for big bills once you have it? Just so it’s not so bulky?
I definitely do!
Yes! In Canada we have heavy $1 and $2 coins. Every few months they get swapped out for bills.
To print your envelopes what type of paper you use or which one do you recommend
th-cam.com/video/IXYT0Urfrno/w-d-xo.html here’s the link to the video she talks about them. She has links to everything you need! Hope this helps!
Hi, I have one thing to ask. When you leave the house to go shopping or to the park or to any other place, do you carry your wallet with all the envelopes with you or do you make choices?
Same question
I’m trying to figure that out also. I think it would be more beneficial to use a credit card for purchases, get home, calculate it, and maybe take money out of each category’s envelope to deposit? I still want to use my credit card cause I get good rewards.
There is another method where you keep an envelope that is empty. You write your budget on the top. As you purchase with cash or card you put the receipts in the envelope and subtract to find how much you have remained. For example, you have $300 for food. You shop, it costs $95.63. You write down “Store” $95.63 and calculate you have $204.37 remaining. I used to do this :)
Just one question: why not use a high interest savings account with buckets to save these amounts so you can earn a little interest while it sits?
I do that with funds that I don’t touch often
The other ones I keep as cash because the amounts are much smaller
I pay for just about everything with my credit card to get cash rewards, and I always pay it off by the end of the month. I use the cash envelopes and when I make a purchase, I pull out the cash from the corresponding envelope and put it into my online shopping envelope. I then deposit it in my checking account to pay on the card. What expense tracker do I record my transactions on, the Cash Expense Tracker or my Credit Card Tracker?
More and more places are not wanting cash due to Covid, or they’re wanting exact change because of a coin shortage. What do you suggest in this weird time we are dealing with? Do you suggest getting several different prepaid cards for each category? Is there something else you would suggest?
These videos are so important, thanks Miko!
Im currently working on my monthly budget and color coding after seein one of your videos of weekly paychecks. And how to allocate your paychecks to cover other bills for next month. Thank you so much. I can't wait to get back on track with my sinking funds.
Chaparra J. Which video did you watch for the weekly paychecks
I’ve just started watching your channel. Love the content. I ordered the live rich planner and can’t wait to get it. I have watched a few envelope stuffing and wonder ... what do you do with the change? Sorry guys if that’s a silly question.
She explained in another video she puts her change in a jar and she makes a deposit into her son's college savings account I believe like once a year. If you need it you could just put it in the envelope and use as needed.
I put it i a jar and will deposit it toward a savings goal when it gets full.
Thanks,
I put all my coins in to saving tin and thats for Christmas food shop x
Do you ever exchange money in your sinking fund to larger bills once you've reached higher amounts and your envelopes are bursting? If not why not?
Totally random, but I love your pen. I am so picky with my pens, and the one you use looks like one I would use because of the grip.
I am so glad I wasn’t the only one lol. I loved it too. I’m a particular person when it comes to pens 🖊 and I just want to get that one :-)
Krystal Landrove Thank goodness I am not the only one!
I worked in a bank on cash for 15 years. I would have LOVED if even one customer was that organised to hand me cash notes breakdown. Instead they call it out- so irritating! Just hand me the breakdown of denominations you want
I’m new here... so if we get paid twice, we split the amount we have for each category between the two checks right?
Depends on your Bill breakdown. We get two paychecks a month, but we pull all of our envelopes with the first paycheck since we pay for rent with our second.
Love the "online shopping" envelope.. great idea!
I love your videos, they’re keeping me focused on my debt journey! Where can I get a wallet like this with the envelopes?
I really need this book!! Do you have a monthly budget one? ! I tried making my own but yours is so great!
@@aitch9185 I got her printable download and I LOVE IT!!!
Where do you keep your envelopes? To make sure its safe and secured.
Id like to know this as well!! 🤔 💭
I love and live(budget-wise lol) by your videos, Miko....but PLEASE can you put your bills all facing the same direction??! It hurts my perfectionist Virgo soul lol...
I love your videos! You’ve helped us so much with budgeting and saving. Are you still going to post the video on your nails?
Yes, we will be posting that on Wednesday :-)
James Bday June 2021 is 115* I know it's only a $1.
I thought the same thing!
My gosh I am SO glad I found you!!! There is hope for me yet!!! Thank you for being so clear!!!!
Do you have any advice as to how to store your envelopes? I’d be so paranoid to have a ton of cash just lying around my house.
I have a fireproof safe I keep my sinking funds in. I have no where this amount, but it makes me feel safe.
This is Amazing and life changing! Seriously, God bless you.❤️
I have seen few of your vide5and they are just great 🥰🥰
But here I have few questions
1. Why do you complicate your life with so much time consuming work??? There are many WALLET TRACK apps and they will do that for you. In this case you will have way more time to spend with your family.
2. Who carries 1300 dollars every time that goes out?? There are bank cars for that. Especially now in Corona time we can pay with a card like in 95%of the places.
3. For doing this envelops,using highlighters, using ink for all of your accounting work that is totally not nature friendly. Besides all of this cost lots of money that you could save.
Just an advice from another single mom 🥰🥰🥰
Best wishes 🥰🥰🥰
You give such a clear explanation of the breakdown of envelopes, etc. Me like you..lol. I really enjoy your videos.
When you spend do you write what you spent on the envelopes too?
Budget Mom, I Love your videos, I just ordered your Paycheck binder and can't wait to receive it. I have a son who is Schizophrenic and all my 401 k went to his treatments. I am 63 years old and starting over.
Do you carry the whole Filofax wallet with you when you're out, or take only relevant envelopes? I found the envelope system well thought out, and cleaner than what I'm using now. Thank you for this video!
Is she screaming or is it just me??
Thank you for this video. I have a question: I am new at using cash envelopes. If my food budget is $500 a month and I fill my envelopes twice a month ($250 each), what should my starting budget be on the cash envelope? $500 or $250?
I’d say $250 and then do your rollover amount plus another $250 when you get paid again.
Miko like your channel. I can relate to how you do the budgeting. I was looking at some of your video's and i was kind of confused as to how you get the amount on how much to save when doing the Sinking Funds every month?
She has done a video about it where she takes her amount goal, then divides that amount by the number of months/paychecks she has before she will need that money. So let’s say you get paid monthly, and you want to save $1,000, you need that money in the next 10 months, you do $1,000/10months = $100/month.
Great tips. I use the cash envelope system for my monthly expenses but I don't use it for challenges or savings as I don't feel safe walking around with so much money. I automatically transfer the money on a specific account and I write everything down.
Miko, alrightie.... I'm FINALLY READY!!! lol
I've been tweaking and perfecting our budget for a few years now and 2020 has really taught me where we WANT our money to go and where it HAS gone! Using ALL the info from my "Where did my Money go worksheets" I now know just how much to pull into our Variable spending, our Sinking funds and also towards our extra debt payments and 2021 Savings challenges. 💙💜💙
I'm having a hard time coming up with categories besides groceries. I don't get Takeout, celebrate any major holidays, get starbucks or go shopping. Any saving sinking funds i use savings accounts and earn interest. I'm using the happy planner envelopes but I'm drawing a blank as to the categories I could use in cash.
Transportation, household, vacation?
@@jenniferrosenthal7731 (I just saw this, sorry for the delay) Yes, definitely cash for gas; however, I use the Ralphs Rewards and get $1.00 a gallon off sometimes. I still haven't adopted the envelope system as my family's expenses have absolutely skyrocketed.
Most household stuff are in a Costco run, so I have a separate envelope as I go weekly now. So, I'm up to two envelopes! lol
I take care of a lot of people, so no vacations for me. I can drive to a beach or go to a zoo out here in Southern California for recreation, all free.
So, for now, three envelopes that will go with me:
Costco
Groceries (which includes Pet Foods as my dogs eat a raw diet)
Fun Money: $40/monthly for some pens, stationery, cute kitchen decor at Home Goods. Keeps me from overspending on "mindless shopping", which I'll rollover.
but long-term:
Clothing (Every 6 months, I'll buy what I need to replace in my wardrobe)
Beauty (also every 6 months, I'll replace what needs replacing)
So with cash envelopes I find myself forgetting to write down it in my bbp workbook and what do you do to track the online spending deposit?
Hi,
I believe it would just show up as a deposit in her checking account tracker. Then only expensed on the checking account tracker not the cash tracker.
What would go in the household category? Like cleaning products? Love you and all you already taugh me! Thanks so much ❤️
That's what I use my household category for: cleaning products, paper towels, aluminum foil, detergents, etc.
The cash teller slips are a brilliant idea!
On day 4 of the online class. That expenses I should budget for but don’t omg. I think I emailed you last week and you told me about it. Thanks Miko - Jasmine Coleman
I really need to start doing this with my food, fun, and pet expenses. Although I find for groceries, I spend less when I do mobile pickup vs shopping in store. Easier to track total and not throwing in random "ooh that looks cool" junk. Just started a new job that pays me weekly so great opportunity to get this going. I'm going to start next month so that way I can get familiar with the new income and timing.
My only issue with the system is that I'd rather put sinking funds in a savings account so I can earn interest. My credit union (BECU) lets me split up the amounts into categories so I can see my goals.
Yup same here. Once I started my new job awhile back I did this system and it works.
I have separate accounts under my high yield savings. They are the accounts that I don’t touch much (once or twice/yr)
Other sibling funds stay as cash because I need to access them more often and the interest earned on those would be nominal. I have 10 sub accounts on my high yield account.
If you are at least a year ahead in your sinking funds goal, do you ever put the amount into another sinking fund for the remaining year? For example you're a year ahead in meeting let's say the boyfriends birthday...do you take that amount and put it towards another one like your Costco or house?
I love your videos! But my OCD is crazy when you don’t bank face the cash! 🤣 Keep up the good work! ☺️
In watching this June video using cash, does this mean you went back to cash envelops instead of cashless envelops that you started in April? Thanks for your reply.
This video was exactly what I needed! Answered all my questions 🙌🏼
I really like your desk / office furniture, might you provide a link for it? Most filing cabinet desks are unattractive. Love yours and your office chair!
Tracking - always hardest part for me
So you just carry the variable envelopes in your wallet and leave the sinking funds envelopes at home? It seems like a good system- just trying to see how that’s better than having it in the bank. Love the colorful products.
You can switch out a lot of the little bills for bigger bills to keep the envelopes from breaking 💋
If you are consistent, it's exciting to see how much you have saved for your sinking funds. Love your videos! Best wishes and keep at it Kumiko!
I’m not an envelope user but these cute envelopes might change my mind.
I think thats why I started to use this method lol
Is that a bernedoodle? He looks a lot like my girl I kept back, I raise bernedoodles and miniature schnauzers! We spend way more money on dog food than we do people food lol, every trip to tractor supply is like $300 😭 it could be cheaper but they eat only the very best lol
I have a question regarding shopping for groceries etc. Do you devide your items into those same categories your envelopes have, when you pay for them at the cashier, when you buy not just food but also beauty stuff or others at one place?
I hope you understand what I'm trying to say.
Sometimes I just pay for everything out of my food envelope, but replenish it using my beauty envelope for whatever wasn’t actually food. But if you plan ahead and know what you’ll be spending on nonfood items, then you can always put that cash into whatever envelope your bringing. Or just bring all of your envelopes!
@@DominiquesDay thank you for answering :)
I often find myself doing the first 'method' you described but I find it mostly annoying having sort it out later. Maybe I should invest a little bit more time beforehand 😅
Ly R I completely understand the struggle. Personally, I do the sorting because I don’t buy much of anything else at the grocery store. But if I am like really running out of toothpaste or a deodorant, I’ll grab it, leave it last and then let the cashier know I have two separate transactions. They are usually ok with it. But I also do take both because you never really know. The times I don’t bring one or the other, I take from miscellaneous and then put back into that envelope.
i wish i could be as organized lol your cash envelope are so cute great video i love how you explained it and showed everything
New sinking funds envelopes.will they be on Tbm shop??
I feel uncomfortable to keep my sinking funds at home. For security reasons. Can you suggest me a way to control my funds online ?
Many bank accounts will allow several savings accounts to be used at the same time. Make sure there’s no fee for it though. Also I use different accounts for different savings goals (Wealthfront, Marcus, and Ally).
Hi Alexa. My husband and I keep our sinking funds in a savings account. I have a page in my planner at home and I have the amounts written down so I know which portion is set aside for each category.
How do I stay motivated to continue and to stay on top of stuffing my envelopes? I start but I get distracted with life and I quit.
I have the same issue. It’s hard because I pay all bills with autopay so I don’t know how to figure out a way that works for me. I still have the envelopes because they are so cute . Lol
I do a hybrid because I do use my debit card more. I love the envelopes for my kids allowance money, (pre-covid) tips at restaurants and some foods because I love small truck vendors. I make it a point to plan a bank trip and stuffing hour in my calendar. That way it’s a part of my “appointments”. And I don’t wanna miss my money Appointment :-)
andiebear17 I also pay bills online. I need to find the discipline to stay on track.
Krystal Landrove I love the envelopes too. That is a good idea for kids allowance and tip money.
I was so excited to get my envelopes and to start saving but I got off track and now I am trying to start back.
What hole puncher do you use for the cash envelopes ?
Do you make separate transactions so that you keep your groceries separate from your household?
Hi Miko! Love your videos, I’ve been watching your channel for almost 2 years now. I had a couple of questions..... my husband and I have 10 sinking funds ranging from medical, gifts, holidays, car maintenance etc....... how do you budget those with your cash stuffings?? I noticed there weren’t things like your birthday, thanksgiving, gifts, and other things like that.... do you rely on Misc to cover those?? I want to reduce the amount of sinking funds so I’m only curious your thought process and whether I can implement that to my finances and reduce envelopes. TIA!
I don’t know about Miko, but I only use cash envelopes for things I spend on monthly. I also have one envelope called “Annual Fees” which covers ALL the stuff I pay once or twice a year. I just deposit what I need from there into my checking account each month.
Finally, I have a separate bank account (through Ally) that lets me create “Buckets”. I use that account to save for my Sinking Funds, like gifts, new car, home/auto maintenance, vacations, etc. It lets me decide how much money is in each “bucket”/category/sinking fund but I only have to have one account.
I purchased your new planner I'm so excited and anxious that I wont do it right as my budget and living in Dublin with euros things are very different. I'm only tracking my wages as we have separate accounts we have our Bill's anc my husband has his Bill's as in the car his insurance and tax and anything to do with the car he gives me money every month for our Bill's I get paid fortnightly so I'm a bit 🤪🥴
I also do it in € , that should not became big disadvantage
I am going to start cash envelopes soon! With my side job
When will the budget by paycheck workbook be back in stock?
How far in advance will you save for? Ex: you have 2021 savings goals started. When you hit those will you start 2022?
Yes she will start for the next year.
Thank you for going into detail, but I have a question on your June cash tracker.. it seems funny in my mind to see rollover of $350.00 and withdrawal of $501.00. Do you not start with showing deposit of the total cash you got from the bank?
She only showed one page. I think she might divide sinking funds and expenses in 2 different lines.
Thank you for explaining things so well. It’s hard to follow some videos when parts are skipped. Very informative and easy to relate to.
Is your savings in envelopes or bank account?
I have a question! What do you do with your change!??? Haha im cashless mostly.. ive tried cash because the visual of it actually going away really makes you think.. but what do you do with your change? Please help me haha i usually put it in my piggy banks.. how would i track that?
This may sound like a dumb question, but when you calculate your food, household goods, etc., do you do separate transactions in the store or do you take your receipt and subtract from each cash envelope per item when you get home?
I want to know this too! I’ve been trying to separate things but I coupon at Walgreens and Dollar General and there are threshold coupons so I combine groceries, household, etc…
Then I go home and figure out the amounts for each category. If I’m at Walmart or Costco, I spilt them into 2 transactions.
Where can we find the sinking funds envelopes that have the house and the mixer on them? I love those!
Those are new ones I have added to my budget in the last month :-)
@@thebudgetmom Will they be available to purchase in your shop ? ;)
@@thebudgetmom Are new sinking fund envelopes going to be available in the shop? I was just think that I really want some and was hoping** that maybe the new graphic artist you have is working on a new set?
Will the new people House envelope with the trees be available to purchase? I already own the sinking fund envelopes, and I would love one for my house savings. Please let us know. Thank you.
I’m new to the budget mom channel and I will say I’m addicted. Are those sheets in the planner you created? Or did you buy that planner from somewhere?
I do have issues with weekly grocery shopping but I don’t want to care large amounts of cash with me, should I just do cashless?
I loved the video! Loved how you broke it down really well. Thank you as always for all of the great content and help with budgeting.
Thanks. Now I have a clearer picture for stuffing my envelopes. 💜
I am a visual learner too! I love this tutorial very much. 😘
Will you be restocking budget by paycheck books or creating a new one?
New Budget By Paycheck Workbooks will be released on October 15th. We are still working on a Preorder date :-)
Thank you for this clear video!!
Can you tell me how to track an expense made with a debit card and reimbursed with the cash envelope. Do you write on your account tracker or your cash tracker? or both?
Thank you 🥰
You'll track the amount you pull out of the cash envelope. I dont note an even trade on my checking tracker bc it's a wash
How would I do my budget? I get paid daily. I do door dash and everytime I end my dash. Would I divide each bill by 4 and then by 7?
I love the Costco and house envelopes. Will you add them to the shop?
I love how simply you put this! Love the video! 🥰💙
How can I get that cash envelope breakdown worksheet and paycheck bill tracker journal ?
Where you live have they limited the use of paying in cash? Where we live they said there is a coin shortage. We need to use either exact change because they will not be able to give back any change or use debit/credit cards to pay with. What do you recommend doing? I dislike that I don't have a choice anymore to use cash.
Amy Heelis-Cannon I just keep a change stash on me. That way I can always pay in exact change
What works for me is leaving everyday expenses on a debit card (transferring over the money from my direct deposit) and then using cash envelopes when I need to make less common purchases like birthday gifts or car maintenance. I either use the cash I have there ( with exact change) or just stop by the bank and deposit the cash into that some debit card before purchasing.