Question

Hey TBM - I need help / guidance  I get paid 2 month - same amount give it take $50 If I have 4 envelopes Gas Groceries Misc Fun I deplete each pay check to $0. 00 with nothing leftover for funds or extra debt, should I get rid of Misc and Fun envelopes? I just am not seeing progress and maybe I'm doing it wrong

Answer 1

This is about priorities. What is more important, mis and fun or sinking funds and debt? Maybe take half from misc and fun and use for other? It does not need to be all or nothing.  

Answer 2

Are you sending money in other directions as well, like sinking funds and savings?  

Answer 3

So absolutely all your money is going to rent/utilities and these other 4? You need to track your spending, maybe you have some subscriptions you can cancel or car ins you can negotiate or a phone bill you can lower? If you have exhausted everything and can’t find any place else to cut- then yes, that is the most likely place. But i find if you can’t have a little fun it makes it harder along the way. Take a harder look at your budget/existing expenses (non envelope related). You could always try a side hustle or selling some stuff

Answer 4

Are you spending the misc and fun just because it’s there or because you actually need it? I wouldn’t completely eliminate it. Try a month with reducing them both by 25% see how well that works, if it’s ok then try reducing again. I wouldn’t ever recommend completely eliminating them, but definitely try cutting back