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The best budget is the one that works for you.

If your budget isn’t realistic for you, then adjust it until it becomes realistic.

Keep your budget up to date so you can continue to enjoy its benefits.

The Envelope Method requires you to move to a cash-only system:

  • Each payday, cash your paycheck at your bank, then divide the cash into different envelopes for each expense category.
  • Use cash for all expenses. Once you spend the money in that envelope, that’s it for that week.
  • Each day, put the cash from that day’s spending money envelope into your pocket or purse. That’s your spending money for the day. When it’s gone, stop spending!

If you find that you’re spending more than you make, you have two options:

  • Make more money.
  • Reduce the amount you spend.

Usually you can only cut variable expenses, like entertainment, food, gas, and energy expenses.
Energy saving tips:

  • Turn lights off when you leave the room.
  • Switch to more energy efficient bulbs.
  • Unplug your electronic devices when they aren’t being used.
  • Upgrade to energy saving appliances, if possible.

Food saving tips:

  • Look through the flyers for the deals.
  • Plan your weekly menu around what’s on sale that week.
  • Use loyalty cards and coupons.
  • Buy in bulk, when appropriate.

Gas saving tips:

  • Plan out your errands so you avoid extra gas guzzling trips.
  • Keep your car well-maintained.
  • Perform oil changes regularly.
  • Don’t carry unnecessary weight in your car.
  • Rotate your tires and keep them at the correct tire pressure.

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