DH and I talked (again) about going back to the envelope system we used a couple of years ago. He agreed that it really helped us rein in our spending and that carrying a debit card or wad of cash makes overspending just too easy. So tonight we decided to revisit that envelope system and to make it work for us. Honestly, I think we need to go back to revisiting our budget at the end of each month, too. We have a few new expenses (gym membership, a new medication for him, life insurance, etc) but the business is doing well and we need to get a handle on all of this so we save/invest money productively rather than blow it.
And we've decided to start saving/investing my pay, all of it! Gulp! Not that its that much but I'm just sayin'...I think we'll start with saving rather than trying to invest it so that if something happens we have that little cushion. Once we feel a little safer we'll probably feel comfortable investing it. We're both sure we can live off what the business brings in, probably somewhat less than the business brings in but we'll see.
As LuxLiving said in the comment to my previous entry, we've come a long way! But we really do have a long way to go. I hope we're up to meeting the challenge and I'm so excited about trying!
The envelope system revisited
November 29th, 2009 at 04:54 am
November 29th, 2009 at 01:20 pm 1259500838
November 29th, 2009 at 01:32 pm 1259501578