Money Saving Monday-staying on budget

Money Saving Monday: Staying on Budget

Be sure and check back every Monday for money saving tips for your family

This Monday’s money saving tip is to help you stick with your new years budget.

If you have struggled with creating budgets, and then forgetting or overspending try the “cash only system”. This is where you take out in cash the money you have set aside for each category (dining, grocery, gas etc…). You normally exclude monthly bills that you pay online. Then when the cash is gone you stop spending. Simple and intuitive but can do wonders for reigning in budgets that don’t want to be met. I find it helpful with grocery money especially as it is the hardest to keep track of.

If you spend more in one category then you had budgeted you are more then welcome to dip into another categories envelope to meet expenses (be careful though) but when the money is gone you stop spending. Leave your credit/debit cards at home for the month if you feel you might be tempted 🙂 A great deal ceases to be a great deal if you go over budget for it always.

Some people find it helpful to do this for a few months and then go back to debit/credit cards others do it all the time. Either way it helps us do what we all ought to be doing anyway, spending what we have and not spending what we want.

There is also something about counting out the money to a cashier that makes me think twice about a purchase, thank God for the blessings he’s given us and model to my children you spend only what you have.

Your turn to chime in. What are ways or things you do to help you and your family not go over budget (especially if there are multiple people “spending” in one category)?


One Response

  1. I would like to use the cash system for groceries but am afraid we’d have nothing left for the last week or two of of the month. Nevertheless, great tip.

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