Well it has been a couple of days since my last post. Here is a  method I have used myself – envelope budgeting. Some people recommend accounts or jars. Whatever tickles your fancy! The point is to use the method toward a financially successful you – one that is totally debt free. The way to do this is to start by practicing frugal techniques and incorporating methods to help you save and manage your money.

The method involves setting up envelopes for each major area – food, utlities, credit card payments, mortgage etc. Whatever is paid from the cash in hand you set up an envelope for that and then add the bills to the envelope. Knowing how much you have allocated for each area, you then put this in your envelope on your pay date and pay the bills.

You can even have an envelope for entertainment. Just make sure that when that money is done you do not take from another envelope. Above all have fun!

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Tags: frugal living tips, saving
Filed under: Frugal Tips