Roland’s Cash Envelope

I just experienced one of the most incredible Financial Learning Experience weekends EVER at Messiah Church in Midland, MI!

On Friday night, Mark (IWBNIN Team Member) and I were able to grab dinner along with several of the financial coaches we were going to train the next morning.   It was at Pizza Sams – which is INCREDIBLE pizza!!!

Anyway, while there, Roland showed me one of the things that has changed his life the most when it comes to his finances – his grocery cash envelope.

RolandsCashEnvelope

It made me remember the reason that Jenn and I have used cash envelopes ever since we started our journey to financial freedom on December 2, 2002.

Here are three reasons I LOVE cash envelopes:

  • CONTROL We overspent our debit/credit cards.   We NEVER overspend cash money!
  • TRACKING It is so easy to understand how much is left for groceries – you just count the money in the envelope!   No more frustration related to counting up our bank and credit card transactions.
  • SAVINGS When you realize how limited your cash is for groceries, dining out, clothing, spending money, and entertainment, you will start searching for bargains and better deals!

Do you use cash envelopes?   If so, why?   If not, why?

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2 Responses to “Roland’s Cash Envelope”

  1. Travis September 21, 2010 at 8:54 pm #

    Last week I picked up the tab for me and a couple co-workes at our local Greek eatery. When it came time to pay, the CC machine was down. Out of the four people waiting to pay I was the only one with cash.

    When we walked out of the door…. they were rebooting the system. (they didn’t have the old fashon carbon copy imprinter)

    Can SAVE TIME!!

  2. Charlie - ThreeThriftyGuys.com September 22, 2010 at 12:51 pm #

    We use to use the envelope system, but now we just withdraw a set amount of cash each week. Then at the end of the week we put in a cabinet to save up for Christmas. Works for us.

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