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Under: Budgeting & Saving
Is this a silly idea?
  • mjspencer515
    I have a goal to stick to my budget and start saving...

    however, I've never been able to stick to a budget.

    Is it a silly idea to take out $$ from my account and allocate it to certain items, ie grocceries, eating out, nights out so that I physically see my money!
  • jdmrosa
    Nope, that's not silly at all! We all have to figure out what works best for us! Dave Ramsey actually advocates splitting up cash into envelopes like you're suggesting, so I'm sure there are many people who do this.
  • kel78belle
    I would say that it's not silly as long as you keep all your money in a safe secure place until you are ready to spend it. You don't want to always carry all your cash with you and depending on how many expenses you are pulling out for it may be a lot just to have lying around.
  • MariaLin-EIC
    I think it's a great idea, not silly at all. In fact, studies show that we register more "pain" via brain waves when we pay in cash -- so your little strategy may actually help you curb your spending. Let us know how it goes!
  • mariaspencer
    Thanks so much everyone...

    :)

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