The envelope system - Deepstash
The envelope system

The envelope system

This method helps you curb your spending or stay out of debt when you don't want to track every purchase.

  1. Set a limit for each expense category, like groceries.
  2. Fill marked envelopes with the allotted cash and use only that money for purchases.
  3. When the envelope is empty, you can't spend more.

The Goodbudget app is based on the envelope system for those who don't want to work with envelopes.

49

358 reads

CURATED FROM

IDEAS CURATED BY

judclark

Operations geologist

The idea is part of this collection:

How to Succeed at Investing

Learn more about moneyandinvestments with this collection

How to create a diversified portfolio

How to analyze stocks and bonds

Understanding the basics of investing

Related collections

Similar ideas to The envelope system

The Envelope System

The Envelope System

The Envelope system is a way to track your variable expenses like food, entertainment, and drinks.

This method, preferably used weekly, allocates a certain amount in each category in labeled envelopes (food, drinks, movies, etc.). Once the envelope is empty, you are done spending in tha...

When you should use debit

  • When you want to avoid getting into (more) debt: Since your debit card is connected to a checking account, you theoretically only spend what is available in your account.
  • You want to pay for everyday purchases conveniently—things like gas, grocerie...

Measure your expenses

Measure your expenses

Take a hard look at how much you are spending day to day. Every time you spend money, write it down as it happens in a little notebook or log it into an app.

Alternatively, use the envelope method. Make an envelope for each of your non-fixed expenses, like groceries, clo...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates