October: The First Month on the Envelope System
Next month we’re going to switch over to the envelope system to help us keep our spending under tight wraps. There’s no reason for us to accidentally splurge with a few excess expenditures so we’re switching over to make sure we’re on top of things in our budget. We’re also going to keep our focus on the short term, medium and long term goals not losing sight of where we want to be in each of these stages. I’ve started work on the online price book but my wife has also begun a paper based price book for the short term so that we can maximize our groceries. The two major grocery chains near our house are King Sooper (AKA Kroger) and Safeway (AKA Tom Thumb). So far she says that Safeway has slightly lower prices on many of the staple items and that the twenty cents savings per gallon of milk will not make up for hauling our two girls in and out of the car, through the store, and then back to the car again. I concur.
What are your plans to make October a great month for your finances?
Related posts
September 28th, 2007 at 6:15 pm
October will be my 1st month on a budget in a gazillion years. I also will keep an account of my expenditures. I’m already pretty compulsive about saving receipts — I just never do anything with them!
I confess the envelope system scares me because I don’t know if I have the willpower to stay within the amount in the envelope. But I guess it’s really just one kind of budgeting system.
Good luck to you!
October 27th, 2007 at 10:56 am
[...] was a lesson learned. As the title of this post indicates we didn’t quite get our envelope system off the ground. The failure to complete the process fell completely on my shoulders. I simply didn’t [...]