Envelope System Wallet

Did you ever experience having budgeting money problems?  Okay, maybe the real question is -- who didn't?!


I'm no financial expert, but I know and believe money trouble is just mismanagement.  It's truly just that. I believe no matter how small a person's income is, that person can manage to survive without having loans - may it be personal loans to family and friends or those payday loans just to be able to make it until the next payout. It happens to almost everybody even to those who have high incomes, so you're not alone.


Before I saw this on the Dave Ramsey Show, I was quite familiar with this method already. The envelope system wallet.  Putting your money in different compartments and labeling them according to your needs. There are many ways to do this aside from the envelope though as others do not want their wallets to be bulky. You can use clips or simply just use the compartments of the wallet as the separator. There are also shops online selling wallets with a lot of compartments and I'm sure even in the mall you can find one. It's doesn't matter where you get it or if it's the legit kind of wallet. For this to work, discipline to control the urge is the key. Planning too.

To do this: Plan what categories/compartments you would like. Food for groceries, utilities, gas or work expenses, fun or extra for miscellaneous expenses. Only you can decide for that, whatever categories you think would work for you personally. 


They have these wallets online like in Amazon or Etsy. If you're on a tight budget, simply just make one, the most important thing is the principle behind this method anyway.