Thursday, February 13, 2020

Cash Envelope Reconfiguration Update

Princess 
Yesterday I had an appointment to take our English Bulldog to the Vet.  She has been experiencing a runny nose and it was hard for her to comfortably breathe.


So, I had an envelope to cover the pet care expenses to include grooming and vet appointments.  I pulled the envelope out of the stash and put it down... somewhere.



Making a deposit at the bank
Yeah, I put is somewhere and between getting the bulldog ready to go while not alerting the other dog that we were going somewhere.  She would have lost her mind if she knew we were going without her.


Before that happened, I was pondering putting the money from the cash envelopes into the bank, or more specifically an online bank where I can still track the cash and then when I need it I can transfer it to MY bank or Rewards CC.


In between misplacing the cat and dog care envelope, getting the bulldog ready to go, sneaking out of the house before the small dog loses her mind, and counting the cash out of the envelopes to deposit at the bank, remembering to put packages in my car to drop off at Post Office, find my phone......AND I had to count that cash a couple of times to get the right number, good grief it was a mess.

The vet said the dog will be fine and gave her antibiotics, the small dog never knew we were gone, I did get the cash counted and deposited at the bank.  And... after dinner, I found the missing cat and dog envelope in /on my laptop, the top was down and when I popped it open there it was. Sheesh!


This morning I decided to go ahead and open (or reopen since I was an ING customer many, many years ago) my Capital 360 checking/savings account.  I made the transfer of all the cash envelope money to Capital 360 and will be setting up sinking funds/savings accounts for what was previously my cash envelopes.

My previous experience with ING/Capital360 was a positive one.  It was a way for me to put away and save money for a down payment on our current home many years ago.  Once we bought this house, I never used the accounts again and pretty much forgot about them.  I was probably trying to simplify things financially.  Did that simplification lead to losing sight of the finances? Maybe.  That and other life events.

I know, it appears I am all over the place when it comes to managing money.  And for the most part, that is a true statement.  But, I gave myself a year to figure it out and find the best way to save, budget, and direct our money.  It is trial and error finding out what works for us.  On the plus side, have paid down debt,  I have kept our grocery spending within a reasonable budget, when before I really did not HAVE a grocery budget because we ate out a lot.

Future cash envelopes will be for grocery, eating out, and blow cash (buy whatever we want).  Anyway, the adventure continues!

9 comments:

  1. We only keep a few envelopes at the house. Eating out, simple repairs on house, and "allowances". We have five on line accounts (some are combined)- dogs/propane. taxes/gifts, education, car, travel. We each have our own savings account. We put cash gifts and extra allowance in those. We dropped our grocery envelope after a year. I now track it on line from my credit card. IT is worth it though. When there is a "leak" I can catch it quickly!

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    1. I like the simplification of your categories. I am sure I had too many envelope categories and the sheer number of them eventually led to a state of confusion lol. This is a relearning process for me and I am attempting to gut it out ot find the best plan of operation. Thanks for stopping by!

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  2. I am quite sure I could never manage envelopes!

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    1. I think I can but on a smaller scale. Like maybe 4. This is trial and error trying to figure out the best and easiest way to manage the money. It is an adventure!

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  3. I have days like that, it is crazy especially when you are trying to be stealth.

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    1. Right?! I just need to slow down and not be in such a rush. Yeah, right! Ha Ha!

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  4. i love the idea of envelpes but I am a card person. A one card person wen possibe. I work best when I make a page of how much I have for ech category and when I spend something, simply subtract it. if that makes any sense.

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    1. When I had the multiple envelopes, I felt in control of our money. It was tangible and I liked filling the envelopes every two weeks. Getting the cash back in the bank to make the payments was the difficult part. I may have to incorporate your suggestion in to my daily routine. It sounds easy and managable. Thanks!

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