Cash Envelope System, Love it or Hate it?

Standard

 

 

 

 

Therefore, 2012 has brought about some challenges for my family and me, both my husband and I are in school full time and both have full time jobs. Our time we spend together is minimal and the time we get to spend together as a family is even less than that….sad to say L

 

I needed a way to budget our money so that they kids understood once it was gone it was gone and that if they wanted extra cash or computer time that they would have to start pitching in and helping around the house. That mommy and daddy could no longer do it alone.

 

I searched the internet high and wide to find something that worked, we already had a “budget” that we set up with Quicken about 9 years ago and has worked well so far. However, I will have to come clean if I see we have money in the bank I want to spend it. I can remember when I was little everyone always saying you can’t take it with you, well no you can’t but you do have to be able to take it to the store or to pay bills. When we got our taxes back this year we paid off some small debt that had been lingering for far too long and purchased airline tickets to see family out in California in May. Once again, we were back to just above paycheck to paycheck. If you ask my husband another fault I have is that I am a BIG time giver, I love to give to people, family, friends, our kids, my co-workers I love that look on people’s faces when they get something and it makes me feel good. Even though this may, sound like a great problem to have it is not budget friendly. An example would have been Christmas time at work, since I work in a school there were only 12 working days in December so it only seemed logical to do a countdown of the 12 working days of December my boss gave to me and then I would hand them each a small token of my appreciation for all their hard work all year long. All the items came from the dollar store and I have 10 employees I wound up spending $120 in the dollar store in less than a month…..who does that? I would have come out better getting them each a $10 gift card to a restaurant but when I was spending a little here and a little there it snuck up on me big time.

 

So to help me I want to start fresh in April on the cash system…..My categories are clothing, groceries, entertainment, allowance (I will go into why on this one), dining out

As I went through my data on Quicken, I realized we spend a lot of money between eating out and buying groceries. So I decided to set a budget of $550 groceries and $100 dining out which is $300 less than our average monthly spending.

Clothing is set at $75 a month that will roll over every month, some months we might not spend anything and some months like before school, winter, summer the spending will be more. This may not seem like much for three kids, two of which will be in middle school and one in high school. They do not expect the best and love to shop goodwill!

Entertainment is set at $100 a month, which is about $50 more than normal, but it is our goal as parents to spend what time we have left with our kids doing things they will enjoy, making memories. Therefore, this includes buying board games, going to the movies going bowling, chuck e cheese half would come out of dining out and half out of entertainment. You get the picture!

Dining out is $100 that is it, I am in a push for us to stop eating, sodium laced, overly processed food, that are high in empty calories and offer no nutritional value. Therefore, as you can tell with a family of five it will not take long to blow through this. We love going out for self-serve frozen yogurt, pizza, and the ever-popular McDonald’s

Allowance, why is this a cash category you may ask? Well as I said before I want my children to understand the concept of money. You work you are paid, you do not work you get nothing, your sibling does the job you were supposed to do, then they are paid not you. I have set aside $150 ($50 each) for the kids I am getting it back in all ones and I am sure the people at the bank are going to think we are headed to the club but I want to have a big wad of cash for them to see and each task can be paid for on the spot. Then they are responsible for extras they want phone case, nail polish, toys, video games, anything beyond normal that they want from school like on Chick-fil-a biscuit day, or snacks from the vending machine. In addition, there is the mandatory $5.00 they give back to us to put in savings.

 

So I would love your thoughts and suggestions if you are using this system, what works for you and what doesn’t???

 

 

Heather

Publix 02/12/2012

Standard

 

I love Publix, by far my favorite place to shop for groceries when using coupons!

  • (1) Iams Dog Food $6.99 (not pictured)
  • (1) $50 gas card (not pictured)
  • (2) Resolve Stain Sticks $0.50ea
  • (2) Lysol Spray Cleaners $0.85ea
  • (2) Charmin Toilet Paper $3.49ea
  • (2) Right Bite Cookies $1.10ea
  • (1) Fruity Pebbles $1.08
  • (2) Betty Crocker Cookie Mix $0.99ea
  • (2) Duncan Hines Cake Mix $0.22ea
  • (2) Pillsbury Grands! $0.70ea
  • (2) Pillsbury Cinnamon Rolls $0.40ea
  • (12) Yoplait Yogurt $0.47ea
  • (2) Del monte Corn $0.00
  • (1) Quaker Chewy Bars $0.00
  • (1) Frosted Flakes $0.00
  • (1) Oscar Mayer Hot Dogs $0.00

Total before sales and coupons: $131.44

Total OOP: $70.28 or 47% if you take out the gas card we only spend $20.78 on groceries or 75% savings

Plus I will turn it in for a $5.00 Publix Gift Card

 

So today before savings, my total was $189.78

I spent $37.98 on groceries or 73% savings and $50.00 on gas

Kroger Mega Event 02/12/2012

Standard

 

I had some free coupons I got from the Kroger home mailer and wanted to get some of the Totino’s Pizzas

  • (8) Totino’s Pizza $0.74ea
  • (2) Totino’s Pizza Rolls $0.55ea
  • (1) Kroger Salad Dressing $0.00
  • (1) Kroger Unsalted Butter $0.00
  • (1) Kroger Large Eggs $0.00
  • (1) Kroger Canned Soup $0.00

Total before sales and coupons: $23.42

Total OOP: $7.30 or 69% savings, plus I got a $2.00 off Catalina that I took to Publix!!

CVS 02/12/2012

Standard

 

 

As much as I love shopping and finding deals, I really hate going to CVS because they NEVER have anything I need in stock on the first day of the sale!

Today was different, they had what I needed and I was able to do the deal I wanted! Note: They took off too much on the speed stick coupons, made mention but they let it go through!

  • (2) Ladies Speed Stick $0.00
  • (2) Men’s Speed Stick $0.00
  • (2) Irish Spring Body Wash $2.00ea
  • (2) Soft Soap Body Wash $1.25ea

Total before sales and coupons: $34.92

Total OOP: $9.90 or 72% savings

Plus I got $5 ECB and I will turn this in for the Colgate-Palmolive Rebate for $5.00 so I made $0.10 profit J

Kroger 1/7/2012

Standard

I hope to get back in the swing of things soon!! I took advantage of the buy 4 get $4 off P&G sale at Kroger!!

  • (2) Strawberries $2.00 ea
  • (4) Grapefruit $0.50 ea
  • (1) Broccoli Crown $1.25
  • (2) Frozen Tilapia $4.39 ea
  • (2) Dawn Hand Renewal $0.99 ea
  • (1) Frebreeze Air Effects $0.49
  • (1) Frebreeze Set & Refresh $0.49
  • (3) Covergirl Eyeshadows $0.72 ea
  • (2) Old Spice Deodorant $0.49 ea
  • (2) Duracell AA Batteries $1.49 ea
  • (1) Crest Toothpaste $0.94

Total before sales and coupons: $60.67

Total OOP: $22.44 or 63% (Anything over half is fine with me)


Publix 1/7/2012

Standard


A few of my coupons did not match the sales but I bought the items anyway because it was still a good deal!

  • (2) Weight Watchers Bakery Items $1.25 ea
  • (2) Kefir $3.39 ea ( This is a cousin to yogurt, I use it in smoothies, it is New Years we are on a diet J )
  • (2) Tyson Chicken Tenders $2.99 ea
  • (4) Right Bites 100 Calorie packs $2.49 ea
  • (1) Asparagus Bunch $3.14
  • (2) Aunt Jemima Frozen Pancakes $0.89 ea
  • 3.67 lbs Boneless Skinless Chicken $7.30 ($1.99 lb)
  • (3) UP2U Gum $0.09 ea
  • (2) Fresh Express Salad Mix $1.99 ea
  • (2) Pepperidge Farm Deli Flats $1.14 ea
  • (2) Snackwell 100 Calorie Packs $0.59 ea
  • (2) Jennie-o Ground Turkey $3.49 ea

Total before sales and coupons: $117.78

Total OOP: $36.89 or 69%

I did purchase (2) of the $50 gas cards but did not include that in my total!