Do you use an envelope method of saving money?

[freelancermaria]

Last year, I used the envelope method for budgeting instead of focusing on savings with digital banks. I alloted money to labeled envelopes, which helped me live within my means more. It also improved my money management skills. Do you use an envelope method for saving?

 

[Springtime]

No, I have used such method. It's fine if you find this method works for you. I just transferred a portion of my earnings to a fixed deposit account monthly.

 

[eLdavis]

When it comes to my saving method, i do not have a specific way i do my savings though. I tend to make use of any method available at that moment.

 

[Augusta]

I do this a lot . The envelope method works well for those who don't want to have to write down every expense.

 

[freelancermaria]

We have our own methods for saving money. Some of us use this method while others choose different ones. It's fine as long as we manage to save money each month or whenever possible.

 

[Augusta]

Envelope budgeting can bring controlling impulse buys . it helps one become intentional about how one grow savings and pay down debt.

 

[Suba]

I never budget with envelopes, I think it's too complicated, and requires patience, and often I take the wrong money in the envelope for other purposes. So I prefer to use a traditional budget.

 

[monster_masterpiece]

I never budget with envelopes, I think it's too complicated, and requires patience, and often I take the wrong money in the envelope for other purposes. So I prefer to use a traditional budget.

This happens most of the time.

 

[Augusta]

This help new budgeters and impulsive spenders. It lets you set goals and gauge how much you spend and save.

 

[Nomad]

I have never used it. I am not even sure if this actually works in the modern time. I just cut 10 percent of my income and send it to saving account