First of all, a big hello to everyone who has visited the FHW in the last couple of days, especially the Frugal Hill Wayers (you know who you are!) and to Piglet, Jenny2, Anne and Ben for leaving your comments – it’s lovely to hear from you.
I’m working on being more organised with my finances at the moment and this month I’m trying out an idea which I’ve come across in various forms, but which seems to work for quite a large number of people.
The idea is that at the beginning of the week you take the amount of cash you need out of the bank and that’s it – no going back, you make it last. You can divide it up into categories such as food, school dinners, bus fares. Some people put the amount for each category into a separate envelope, then just take out what they need when they need it.
My grandparents had a variation of this when I was growing up – they had ‘the Housekeeping Purse’ which contained what they needed for the week. I remember that the money for our school bus fares always came out of this purse. I’m trying out using two purses: one just for groceries, and one for everything else.
The idea is that using cash makes you think more about what you are spending – you don’t have the feeling of spending money when you use a card. It will be interesting to see if I spend less this week.
Have you tried out a version of the envelope system? If so, how did you get on?
Until next time, Tawney x