Mommy Savings Tip: Envelope

Back when my better whole and I were still on our engagement days, we took the 7 weeks Pre-Marital Counselling. One Major topic is about FINANCES. As we patiently, wholeheartedly and painstakingly (almost 5 pages back-to-back questionnaire) answered our take-home task, we still came to the session eager to learn more from the experts. By the way, talking about those questionnaires, we still have them and we read them every once in a while. We had a good laugh about how we answered; so far away from what is real now. I mean in a better way I guess. We also plan to share our answered questionnaires to our children in the future. My better whole and I would love to tell them how God wrote our love-story.

One practical idea that I managed to apply now that I am married is the Envelope Method.

 

All budget allocations for monthly expenditures must have one envelope each with labels. An envelope for payments for electricity, water bills, credit card, groceries, baby stuffs, tithes and offerings, food, household assistant’s salary and so on and so forth. I made lists or categories of the things that we need to spend for. Each envelope must be sealed except for food- we open it on a daily basis- but it is divided into four weeks.

If the budget falls short, there is no way I can touch the other envelops unless there are surplus after all the bills are settled. If there is no excess, then I need to ask additional money from my better whole but it comes with detailed explanation. Hence, the “Touch Me Not” policy is strictly being enforced.

The only time I came short of the monthly budget was when my better whole was away for an international trip and he forgot to leave for the payment for the repairman’s services. Touching other envelopes has domino effect – I have to open other envelopes whenever bills are due. The only envelope that will surely hit the superfluous sack is the allotment for Food. I only cook or buy cooked meal during lunch for me and our nanny since my better whole is at work and my son’s food have different budget.

Envelopes can be purchased on online stores; school supplies sections or do-it-yourself way. Here is a link that will serve as a guide for cash envelope template and tutorial. It is not only easy to follow but you can have your own design or use a different kind of paper.

 

Remember the policy well- “Touch Me Not” and you will always be on the right track.

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