I think the envelope system is overhyped for most people

Honestly, I tried the envelope method for 6 months, putting cash into separate envelopes for groceries, gas, and eating out. Tbh, it was a hassle - I kept losing an envelope or forgetting to grab the right one. I switched to a single checking account with a simple spreadsheet tracking my categories instead, and it's way easier. I dropped my eating out spending by $40 a month just because I could see the total faster. Has anyone else found a simpler system that works better than envelopes?

2 comments

2 Comments

hannah24019h ago

Wait, does having a spot like the fridge actually help that much? I always just shoved mine in my bag and then panicked looking for them. Okay you might have just convinced me to give it another shot with a better setup.

brianm2720h ago

Respectfully, I gotta disagree with you there. The envelope system worked great for me because it physically stops you from overspending when the cash runs out. Pulling out a debit card is just too easy, even with a spreadsheet... you don't feel the pain of handing over the last $20 as much. I keep my envelopes in a simple clip on my fridge, so I never lose track of them. Maybe you needed a better routine for grabbing them before you head out the door. Spreadsheets can lie to you if you forget to update them right away, but seeing an empty envelope is the real deal.