Cash Envelope Saving Method

Earlier this year, before Covid 19, I was ready to start my journey on money-saving. I’ve always sucked at saving my money and being responsible with it. I know I’m not the only one that struggles with saving money. This is why this money-saving method is my first post. I introduce you guys all to the Cash Envelope System, the system that’s changed my life. It’s helped me break those bad habits such as spending too much cash, not putting it away in the bank, prioritizing the wrong things, not valuing money the way I should, and more.
However, these bad habits of mine changed sometime last year when I came across a YouTube Video on a 5 Dollar Challenge on Candy Dreams’ channel. The main purpose of this challenge was to save every 5 dollar bill you have or come across and throw it in a jar to store for 6 months. If you’ll like to check out Candy’s video click right here. After watching this video I was drawn to these saving money videos and was constantly looking up videos on how to save money. I found Quinne Kalyn who introduced me to what changed my view on how I should spend my money. She used the Cash Envelope as a way to manage her money smartly. The cash envelope system is by Dave Ramsey, who’s an American radio host, business, author, and an expert at money management. I’ve personally never heard of Ramsey before watching Quinne’s video. However, after learning about Ramsey I learned that the cash envelope system is a way to stay on top of bills by creating budgets for categories such as groceries, personal, restaurant, holidays, gas, and more. (For more on the Envelope Saving System click here). I figured that everyone uses this system differently because everyone has different bills, problems, and economically everything varies as well.
I decided to take on my journey of money-saving earlier this year because I had a new opportunity in terms of economics. I was a temporary employee for the Census Burau and had a part-time job in a clothing store I worked in for over 4 years already. I decided to start the cash envelope system during this time because I was going to be receiving a larger amount of weekly pay and wanted to make sure I was managing it smartly. I brought a bullet journal to keep track of my finances and budget. I ordered cash envelopes with the categories of emergency savings, Christmas, gifts, travel, rent, savings, self, anniversary, and miscellaneous. Lastly, I ordered a safe to keep them separated and secure.
Some of the categories have a set goal to which I want to get to. Christmas for example had the goal of $1,500. Each week since I started getting paid I would put a certain amount into the 8 categories. The miscellaneous envelope is one that I carry around. I put in a total of $65 weekly. Meaning that since I carry this envelope around I’ll be using that envelope for when I want to buy something to eat or something else real quick. However, once that money is up I can’t spend more or pull from other envelopes. This has helped me with one of my constant struggles: overspending. I never saved for specific categories and when I did try to save I always failed and fell back into my bad habits. However, the cash envelope system has helped me stay focus on spending and using my money wisely.
I can now say that because I started the envelope system I saved enough for Christmas and have a decent amount for my emergency and savings fund. I already started shopping for Christmas and I’m only using the money I have saved. This means that I won’t be swiping a credit card during these holidays which I’m excited for.
Thank you for reading.
Stay Safe  <3

Welcome to Vibe With Cindy!

I’m beyond excited for this website, it is my first ever official site where I can postabout whatever. In this site I plan to share a little bit of everything, ranging from money saving tips, DIY’s, recipes, advices, and so much more. I’ve always dreamed of having my own site and I can finally do so thanks to my class CT101 in York College.  This class has allowed me to learn new techniques and knowledge on how to build a site. I can’t wait to start posting content here and I hope you stick around!