Question

Would someone helm me figure out exactly how you “rollover” your cash envelopes? Is that only if you plan to empty your envelopes and use the leftover as income? What if I want to have the leftover stay in the envelope and still add to it the next month? (Example: clothing envelope- we won’t use $50 every month, but I would like it to accumulate over a few months for when I do need to shop for new clothing, but the remaining $17 for pets I am happy to roll into income and start over) I’m looking for specifics on how you document in your closing bill tracker, your new paycheck bill tracker and in your cash expense tracker if needed. I just can’t seem to figure out.  

Answer 1

Even though I’m paid monthly, I budget weekly because that is how my husband is paid. This is a picture of my ‘Week 1, ’ the week in which I get paid and my husband also gets paid. What you see as a sinking fund is what I’ll roll over into next week. I’ll list it as one of my ‘income’ sources just as I did for this week. This is what works for me right now. There are some weeks later in the month where at least some of that roll over money is needed to cover expenses, that’s why I don’t put it all into savings.  

Comments

@physicality I’m going to have to figure this out too bc one of our paychecks is going to have to cover some of the deficits on the second ones expenses based on how our bills are timed. might have to adjust some of the due dates in the future!  

Answer 2

Im not sure what everyone else does but I take all my left over money and put it in my savings.  

Answer 3

I’ve been wondering this too! Following.  

Answer 4

I think miko adds "rollover envelopes" or something to her income so when she adds the rollover cash to the envelope it's accounted for

Answer 5

If you RO an envelope. Add it to “income” for the next month and then put it into your envelope for the next month.  

Answer 6

Following also!  

Answer 7

I struggled with this last month, but for some reason it wasn’t posted BUT I looked at previous posts and the verdict seems to be to create a “Rollover” portion of your income for the following month, put it there and act as if it is income — then i budgeted my envelopes/bills based on the total of everything.  

Comments

@zebulon so like if I am going to add to the balance of my clothing envelope, I would rollover $50 and then make the budget for that envelope $100? But for all the other envelopes, roll them over and just use them as savings or however I need to disperse that “extra” savings income? I think I understand.  

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Right! Like, right now we can’t afford to put whatever we don’t spend one paycheck into savings. So, I obviously don’t touch my sinking funds, i don’t touch those, but any extra we have left over from our envelopes or from a bill that somehow was reduced, I roll over as income to the next month and start over.  

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@zebulon makes sense! Does it need to be documented on your cash tracker as deposit? Or do you even document that there?  

Answer 8

I don’t do rollovers. The night before, I destash and start from zero. What was removed is put into another envelope ad I let that add up until a certain amount before I take to bank.  

Comments

@shamblin so if you do that how do you document that on your envelopes section of the bill tracker? and do you not document it on cash tracker until you make your lump deposit?  

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@silberman I don’t document or track my cash envelopes. Because when it’s gone, it’s gone. I only track when I swipe or spend outside of bills/auto payments, etc. When I deposit, I add to debt or Put in my savings “holding tank. ”

Answer 9

Why not just set up a sinking fund instead?  

Comments

@barkley62126 I was actually thinking of doing that today, but I guess I’m a little confuse din sinking funds, because they seem to be saved to specific goal amounts (especially on the sinking fund trackers). So I wasn’t sure if you had a sinking fund that you were occasionally using then wouldn’t you have to start over on those trackers over and over? I guess I am not sure if sinking funds are to be used for an end goal or for a fund accessible throughout the year!  

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@barkley62126 for instance Miko has her son listed as a sinking fund, but doesn’t she use that fund whenever he needs something for school or activities. So then does she just Not include that particular type of sinking fund on her little flower pot trackers?  

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@silberman you can do it for everything! It’s easier to give yourself a goal to keep track and decide how much to put on each month but you don’t have to. Some people so sinking funds for like a quarterly utility bill- they estimate what the total will be and then pay from that budget. You could put any extra toward some other savings or leave it there and make it “rolling” the possibilities are endless lol

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@silberman the tracking sheet is purely for motivational purposes!  

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@barkley62126 thank you! This is helpful. I already have 10 sinking funds! But I think you are right. It makes more sense to be added there. I really think I need to find a bank with buckets for sinking funds bc this so too many envelopes!  

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@silberman Try Capitolone 360

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@comus we don’t either! It will be tiny amounts in each one as we can/IF we can. Slow and steady.