+9 votes
by (1k points)
Hi all!  I’m curious how deep into the rabbit hole you go with your cash envelopes?!Hi all! I’m curious how deep into the rabbit hole you go with your cash envelopes?! We are focusing this month to be diligent with them and are divvying up part of our tax return to get them started. I have things like my hair or health/beauty, HOA fees, license plate registration, groceries. to name a few. I’ve seen Miko say that she sets up for anniversaries, birthdays etc etc as well. What do you do?  
Hi all!  I’m curious how deep into the rabbit hole you go with your cash envelopes?!

5 Answers

+11 votes
by (4.8k points)
 
Best answer
Okay so I use envelopes for everything because I like keeping it separate. However, I still have my “bill” envelopes, “weekly/monthly” envelopes, and “sinking funds” envelopes. The only envelopes that come with me when I am out, are the ones that are needed. I keep all others in a safe, within a safe. Weekly/Monthly: Food Gas Household Animals Medical Misc Fun My husband “allowance” Myself “allowance” Oldest son “allowance” Youngest son “allowance” Sinking Funds: Birthdays Christmas Black Friday Back-to-School Truck Maintenance Clothing Anniversary Travel Date Nights Holidays
by (1k points)
@institutional makes perfect sense! Thank you!  
by (4.8k points)
You’re welcome! I had to do what was easiest for me. Other people’s ways were often too confusing.  
by (1k points)
I’m over complicating it for sure. I need to simplify!  
+12 votes
by (6.7k points)
Hubby, me and our son all have separate ones for our spending $ (clothes/wants) Anniversary House Car maintenance Health (deductibles/meds if we get sick) Birthdays Christmas Date night Valentine’s Day Vacay Garden I also have a Pregnancy/baby stuff Cloth diaper Maternity clothes For whenever we get pregnant w number 2. Then our efund
+14 votes
by (22.3k points)
Food, household, mis and fun. I put everything else in savings. I earn too much interest to have it sitting in a box on my desk. Hell it makes me nervous to have what cash on me that I pull for the envelope. I'm in a situation that I have left money in my savings. I have to for my sanity. I did not apply it all to debt. I will freak out if my savings is 0. We are military and have had to move with on a few weeks notice and it's costly to move quickly. So as I have a cushion in my checking I have one for my savings. I may do sinking funds one day but for now I just don't have the mental capacity for it. This is what is so great about TBM. I'm allowed to budgeted my way and still save loads of $$$. It's unbelievable how much we were throwing away every month.  
by (1k points)
@poore YES! Same! I’m trying to really stay organized and on top of things. So by setting up sinking funds I wasn’t sure how much needs to be a sinking fund. My husband was worried I’d have so many envelopes there’d be zero money for anything else  
by (22.3k points)
@epictetus40446 this post made me think about gathering a number to increase my savings cushion by to cover what sinking funds would cover. My mind has that capability right now. I don't do numbers and I have to not overwhelm myself with the tracking and numbers. I know me, I'll quit at the first sign of frustration. It's ever evolving for me. While we owe A LOT our budget is not strained so I have room to breathe due to working Miko's advice. She's has saved our future!  
+10 votes
by (9.3k points)
We don't do any holidays or birthdays. Our sinking funds are in Savings accounts- 1. Emergency Fund 2. Greece vacation 3. 2020 Savings challenge 4. Auto/maintenance 5. Taxes (saving now for 2021) We typically CASH FLOW for Grand baby's shower gifts and wedding gifts. Cash flow items are planned with those months Hubby gets 5 paychecks or I get 3 paychecks.  
+10 votes
by (5.7k points)
I make an envelope for anything I know I will have trouble saving for. I have a bad habit of spending whatever is in my checking account but I won’t spend out of an envelope unless it’s for what it’s intended. So I have about 12 for sinking funds.  
by (1k points)
@cordite815 that’s where I think I’m heading. as I mentioned above, I want to have everything set up as much as possible so there aren’t any “huge” expenses that have to come out of one check as before. example, my hair appointments I’d just take the total amount and pay it as ai went to the salon and didn’t sink any funds for it ahead of time. So I’m basically trying to get it together  
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