Minimalist Budget: Everything You Need To Know About Saving Money, Spending Less And Decluttering Your Finances With Smart Money Management Strategies (Declutter Your Life 3) by Mary Connor

Author:Mary Connor
Language: eng
Format: epub
Tags: minimalist budget, minimalist lifestyle, minimalist living, minimalism, saving money, spending less, declutter your mind, declutter your life, decluttering finances, smart money management strategies, budgeting, personal finance, business and money
Publisher: Mary Connor
Published: 2019-01-01T00:00:00+00:00

Following up on your envelop budget

When you first get started on the envelop system, there are going to be some snags that you hit, or there may be a few unexpected expenses that will pop up and make it hard to stick with your plans. Do not worry or panic during this time. Remember that those first few months are going to be tough as you adjust to the changes.

You may learn more about your actual spending habits, find that you need to reign them in a big more in one area over another, or you may need more money naturally in one area. For example, you may find that in order to feed your family well, you need to put a bit more money in the food category, but a little bit less in the clothing or entertainment budget.

Take the first few months on this type of budgeting system to pay attention to your spending habits and learn how you normally spend money and how much you actually need for your expenses. You can then tweak your allocations to each category during the first few months until you arrive at the numbers that make the most sense for you

If you get started on this process and you are not used to having the cash for all of your purchases, it could take you a bit longer to adjust to this system. Many people are used to working with a credit card, that has an unlimited amount of money that you can use. Cash puts a limit on your spending, which can help you to keep on a budget a little easier but can be hard when you aren’t used to the process.

The envelop method can be very effective once you get used to working wit it. It just may take you a few months to adjust to this new system. If you have trouble the first few months as you adjust to the system and you run out of money in a category before that month is over, just restart the next month with a fresh budget. You can even make changes to a weekly or bi-weekly envelop system that is based on how often you get a paycheck each month. You get to have some flexibility to the system to go ahead and make some modifications that work well for you.

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