Episode notes
In this episode, we dive into the envelope system, widely recognized today as cash stuffing or the envelope budgeting method. Join us as we unpack this popular personal finance strategy designed to help you visualize and maintain a flexible budget by physically prioritizing your income into separate categories.
We guide you through the practical application: writing specific bill names and costs on envelopes and filling them with cash when you get paid to ensure the money is ready when bills are due. Discover how this method effectively prevents you from spending allocated funds out of your pocket or bank account. Finally, we discuss how to adapt this traditional concept to the digital age using budgeting software or multiple checking accounts, and look at notable practitioners like Jasmine ...