Saturday, July 9, 2011

Money Envelopes-Update #1

This was our first week in trying out the money envelopes.  We went over our budget in 3 of the 4 areas.  We are not used to just using cash.  Let me recap.  For our grocery category we went over $30.  I forgot to buy the dog food and we ran out of coffee in the middle of the week.  For our dining out category, which is one of our weaknesses, we went over $35.  A couple of times I didn't have dinner ready and my husband couldn't wait for me to cook, so I picked something up.  For our entertainment category, which is our other weakness, we overspent $23.  This isn't so bad, but if we keep overspending in each of these categories throughout the month, we will be way over budget.

One thing I need to revise in our budget is giving Joey and I a little bit of spending money.  I don't know where we will get the money because as it is we are over budget, but we definitely need it.  I will probably be able to do without it, but I know Joey needs it.  So I am thinking $40 a week is sufficient.  I won't tell him about it, but I'll have it here at the house so when he needs it, I can give it to him and hopefully avoid using that darn ATM card.  We will see how that goes.  So for week 2 I am going to keep the same amount of money and see how it goes.  I will have an update next week.

2 comments:

  1. Those envelopes are from Oprah,right? I know I've seen them somewhere, seems like a great idea. Good luck!

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  2. I'm not sure where I got the idea from, but I have to try something. Thanks for wishing me good luck. I need it! :)

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