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Envelope Budgeting Still Works - May 2018
I use the envelope system each pay, and it works for me. I leave money in the bank to pay direct debits, bank fees, then I work out what payments are due, e.g. rates, water, gas, car regos, insurances etc. I add ten percent on top of what my last year's bills were, then divide by 26 fortnight’s pays.
What is left over is what I spent on food, once a fortnight eat outs. The money is then sorted and put into envelopes ( or you can zip bags). If I run out of money for a bag, it’s tough luck, I go without until next pay.
I'm lucky, there’s only hubby and I, we have no mortgage but only on a pension. We get through, but sometimes, we have to pull the belt in a little tighter. I grow a lot of my veggies, and am able to make frozen meals from surplus, or basically go back to very basic and like like my parents did on the farm. I have friends I can swap with and that also helps.
Contributed by Janice via Facebook
What is left over is what I spent on food, once a fortnight eat outs. The money is then sorted and put into envelopes ( or you can zip bags). If I run out of money for a bag, it’s tough luck, I go without until next pay.
I'm lucky, there’s only hubby and I, we have no mortgage but only on a pension. We get through, but sometimes, we have to pull the belt in a little tighter. I grow a lot of my veggies, and am able to make frozen meals from surplus, or basically go back to very basic and like like my parents did on the farm. I have friends I can swap with and that also helps.
Contributed by Janice via Facebook