Envelope Budget

[Starmix]

An envelope budget is another way to put into action our plan to budget. it is not next week or next month, but this day. In the envelope budget, you put specific amounts of your money into envelopes, physically with cash, or electronically with an app or spreadsheet representing different budget categories. Once you have exhausted the funds in an envelope, you can no longer spend within that budget category until the next month. If you have remaining funds at the end of the month, you have a few options. Let us force ourselves to apply this strategy impulsively to put our budgeting plan into action. Buy envelopes and execute this potential strategy to avoid running out of money for paying bills every month. Roll over the remaining funds into the same envelope the next month. Also, transfer the remaining funds to a different envelope, and then put the remaining funds into savings for a later date. This is the most practical, yet effective in pursuing our intention to have ready money to pay for the monthly bills which seem forever.