Did you know the cash envelope system?
It is a way to track exactly how much money you have in each budget category for the month by keeping your cash tucked away in envelopes. The benefit of the cash envelope system is you can see how much cash is left at the end of the month.
Physically dividing up your money makes you aware of exactly how much you have available to spend on a given item. This helps curb overspending on impulse purchases. It will also help you avoid the overdraft fees and debt that can come with frequent debit and credit cards.
In this post, you’ll learn how to use the cash envelope system effectively as well as the best cash envelope wallet to use.
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First, Understand the Budgeting
The budget mainly has 2 categories:
- Fixed expenses: You always know exactly when and how much you need to pay, such as your monthly rent.
- Variable expenses: These are costs that vary or are unpredictable, such as dining out or car repairs.
For fixed expenses, monthly payments are most common, but you may also consider payment of weekly, quarterly, biannually, or annually. For example, I make biannual payments on my property tax. So, I divide the payment amount by six to understand the monthly cost.
Here are a few examples of fixed payments:
- Rent or mortgage payments
- Car payments
- Other loan payments
- Insurance premiums
- Property taxes
- Phone and utility bills
- Childcare costs
- Tuition fees
- Gym memberships
On the other hand, variable expenses regularly change and may be directly influenced by the choices you make on a day-to-day basis. Unlike fixed expenses, variable expenses are much less predictable. Because of that, most people struggle to track and budget for variable expenses. Therefore, I highly recommend using a cash envelope system in this budget category.
Here are some examples of variable expenses:
- Dining out
- Personal care
- Home and car repairs
- Medical copays
List of Best Cash Envelope Wallets
There are many cash envelope wallets designed to help you keep track of your budget. Find what suits your needs and your style!
#1 SKYDUE 12pcs Cash Envelopes for Budgeting
This SKYDUE includes PU leather A6 budget binder, 12 A6 zipper cash budget envelope, 16 colored self-adhesive labels. Lovely colors make your everyday sweet! You’ll have a choice from black, dark green, gem blue, jade, mint, pink, purple, and wine red. In addition, the A6 money binder fits in your handbag, backpack, suitcase, or desk, suitable for storing pens, passports, ID cards, bank cards, and other important things.
#2 ONLYESH Cash Envelopes for Budgeting
ONLYESH comes with a budget binder in 11 different designs and colors, 12 x cash envelopes for budgeting, 12 x budget sheets, 2 x category stickers, and 24 x self-adhesive labels. These budget binder envelopes are designed with a plastic zipper, which firmly secures your contents and prevents them from falling out. Budget sheets help you to track your spending in more detail.
#3 Clever Fox Cash Envelopes for Budget System
Clever Fox Cash Envelopes include 12pc assorted color envelopes, 1 carry case, 12pc budget sheets, 1 quick start guide, and 1summary of the year. Clever Fox cash envelopes are made of a unique material composed of high-density polyethylene fibers often used to protect buildings during construction. These envelopes will easily withstand everyday use and water.
#4 Three Way Cut Cash Envelope Wallet
Three Way Cut Cash Envelope Wallet is a stylish PU leather wallet that includes a removable wristlet, 12pc monthly budget sheets, 12pc tabbed laminated envelopes, 1 binder note, 24pc sticker labels, and 1 yearly budget sheet. The wallet has three different colors such as brown, black and red.
#5 Soligt All-in-One Cash Envelopes Wallet
Soligt includes 1 stylish wallet with 12 envelopes, 12 budget sheets, 1 binder note for organizing – perfectly helps you make budgeting and managing finances easy & fun. Laminate coating budget envelopes are sturdy and come in 12 easy-to-identify patterns with blank pages to mark categories.
#6 Lamare Set of 60 Expense Tracker Budget Sheets
If you want to use your own envelopes, you can just add budget sheets! The Lamare budgeting sheets are made from extra thick 160gsm paper that prevents bending, damage and will stay intact while you put it in your purse and will last longer than other brands on the market.
#7 Outus 128pc Cash Envelope Label Sticker
If you want to create DIY budget envelopes, check this cute label sticker! Outus set includes 128 pieces of cash envelope label stickers that contain holiday words, month words, and other daily words. They are a good helper to distinguish budget items!
#8 Antner 12pcs Binder Pockets A6 Size
Here is another DIY cash envelope material! Antner zipper binder pocket is made from durable PVC. It is resists tearing and is acid-free and archival safe. Pockets are 6-hole-punched, translucent material clear view for quick and easy identification, good for 6-ring notebook binder.
#9 SACHIELLE Cash Envelope System Wallet
Great for the gift! SACHIELLE set includes 1 gift box, 1 PU leader wallet, 1 pen, 15pc double-sided budget sheets, 30pc label stickers, and 15pc reusable envelopes. PU leader wallets come in three different colors such as black, blue, and pink.
#10 SOUL MAMA A6 Glitter Budget Binders
SOUL MAMA includes A6 glitter budget binders, 10pc pre-printed categories cash envelopes, and 10pc expense tracker sheets. Very cute design.
The cash envelope system can be a great way to help you get your budget on track with a focused budgeting effort. As you set up your cash envelope wallet, make sure not to stress out yourself. Don’t be afraid to adjust along the way. Adjusting is discovering what works best for you. Find budget strategies that fit your lifestyle.