SERIES: Top 5 Ways To Save Money WITHOUT Selling Anything 5

In a terrible economy, it is high time that the I Was Broke. Now I’m Not. team deliver ways to save money!  This five part series will share the top five ways that we see people saving lots of money.

I believe that if you apply these five items, you will save over $1,000 a year.  Don’t believe me?  Try them out!

Part Five Groceries and Cash Envelopes

Cash envelopes allow me to save a TON of money.  How?  I have a written spending plan that my bride and I prepare every month.  In this written plan there are several items that I tend to be impulsive with.  Groceries, Dining Out, Clothing, Entertainment, and Spending Money are the top five impulsive categories for me (can I get a witness?).  To control my impulsiveness, we pull that money out in cash.  We stow away the debit card and only allow cash to be used to purchase items in our impulsive categories.

This one move saved us over $200 a month in groceries alone!  You can read more about how to start with cash envelopes HERE.

You can also use coupons to save a ton on groceries.  In fact, my team has prepared an entire section of money saving tips for groceries under the Next Steps tab.  You can check it out HERE.

1 Comment

  1. Travis on March 20, 2009 at 9:53 am

    Joe…. you are right on! Like you, it is the same for us. It has to be CASH money.

    We tried going to an electronic envelope system like “” but we scrapped it after a couple of months and went back to good old paper envelopes.

    The problem (for us) was that we always knew there was still money in the bank to cover our going over the weekly spending limit. Even if it was what we considered to be a “little” bit. But when two people impulse on a few items each and every week “a little bit” adds up fast and compounds!

    Cash money envelope system:
    1. Built in accountability! When the money is gone the spending is done. All of our spending is guilt free! Yes, even the trips to Target. She never has to hide a bag from me…..because she has agreed to spend ONLY what is in that envelope. If she bought it, I know that it is paid for and was agreed upon. (That is the guilt/nag free part and it goes both ways.

    2. Checking out without enough money, only has to happen once or twice. (The wife had done this one.)

    3. You only have to drive all the way to the store then realize that the envelope is at home, once or twice. (I did this one! – twice)

    4. Don’t be so afraid of cash! We have been caring cash for years. All that you are really carrying at a time is usually only a weeks worth of money. That money is further broken down into several envelopes. You can barely tell there is anything inside of an envelope that is carrying $200 in $20 bills.

    I think that even is I lost all my envelopes ( of those items that only has to happen once or twice) which has never happened. I venture to say that I would still have a net annual savings due to the spending control cash money brings us.

    Hope this is food for thought for someone.


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