Cash Envelopes : The What and Why
How many times have you gone to the grocery store planning to spend $150 and you walk out spending $300 and wondering what the heck? Or with eating out? These are two of the biggest categories Americans overspend on. So what do we do? How do we control this spending?
Did you know the first credit card was established 1958 but it took till 1980 for them to begin taking over and since then a social revolution has begun. This revolution has taken Americans away from saving and pushing to spend! What did people use before debit and credit cards? Ask your grandparents or your great grandparents: CASH!
According to Avni M. Shah, an assistant marketing professor, paying with cash is more painful than paying with cards. Why? Because with cash, you are manually handing the check out person your money and seeing it disappear before your eyes.
Because of this fact, cash envelopes were introduced!
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How to Save $1000 fast for Your Emergency Fund
What is an emergency fund?
An emergency fund, also known as contingency fund, is a personal budget set aside as a financial safety net for future mishaps or unexpected expenses. (Wikipedia)
I wrote this post in 2016 and had to reshare again with a few updates! I still feel that having an emergency fund is crucial and will also serve as an investment for your future.
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As mentioned in a previous post, my husband and I took the Financial Peace University course online. One of the first items Dave Ramsey recommends is to as quickly as possible save $1000 for emergencies. Most emergencies are under that amount but we reach for our credit card and then our balance continues to grow. If we keep reaching for our credit card, we will never get out of debt. So, by having this emergency fund, we can have some security to be able to pay a doctor bill or an auto repair we didn’t expect without going more in debt.
To build this emergency fund, Dave...
3 Tips for Starting a Personal Budget
Are you wondering how you are going to pay your bills? Has the thought crossed your mind if you have enough to DoorDash supper or if you need to eat at home? Or even the scary thought, if you will be able to have enough to make it to your next payday? Or are you making enough but you have no idea where your money is going each month? If any of these apply to you, than you need a budget!
Before I get any farther, a budget does not mean you are poor. It does not mean you are dumb or stupid. A famous person once said, "A budget is more than just a series of numbers on a page; it is an embodiment of our values.” Budgeting creates and gives you freedom!
If you are ready to start a budget, then keep reading! I have listed below the first three things to do when you are ready to start a personal budget! And if you have a business budget - I would encourage you to start with your personal budget and then transferring what you learn over to your business!
