Have you heard of the ‘envelope method?’ A lot of folks in previous generations used cash envelopes to control their monthly spending, but very few of us do it in today’s card-swiping culture. How do you start? First come up with a budget and create your envelope categories like housing, food, gas, entertainment, etc. Then, when you get your paycheck, fill each envelope with the money you’ve allotted in your budget for that specific category. Here comes the hard part…when it’s gone, it’s gone! Once you’ve spent the money in that envelope, you can’t spend any more money on that category for the month. The harsh reality of seeing the empty envelope with several days left in the month may help you curb impulse spending!
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