We are interested in using the Cash Envelope system that Dave Ramsey uses and teaching our children how to use it. Does anyone have experience using cash envelopes ?
Dave Ramsey sells a deluxe envelope system but it is $20 and we would like to get one for each of our 6 children - does anyone know of a less expensive system? Thank you

I'm not sure about Dave Ramsey's system, but I've used a cash envelope budgeting system before. How it works: Grab an envelope for each category within in your budget. Inside, place the amount of cash that your budget allows each month. Once the cash is gone, you’re done spending. The cost is basically free, just the cost of the envelopes. I'm curious as to what Dave Ramsey's has that the "Free" version doesn't. Does anyone know?

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Less expensive?? how about...regular envelopes?
my sister works for a bank, and she brought me what they call "money" envelopes.
they are a little nicer looking, but i was going to use "regular" envelopes.
I would NEVER pay $20 for those envelopes, and dont take my wrong, i love DR.
I think thats the problem as to why we all are in debt! we purchase absolutely everything, instead of looking at how to make what you need, more frugal.

just use regular envelopes, save your $$!
btw, i've been doing the envelpe system for a while, and it works great!

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Thanks,
Bestmommysaver!

I recently got one of those coupon organizers and use that because my Dave Ramsey ones started tearing. They are a little more durable than regular envelopes and I got it for 50cents. I got another one for coupons.

We just use regular old envelopes. We keep them in a specific locked location in our home, though, so they don't get "handled" a lot. If I was carrying a grocery, gas, or clothing envelope around in my purse, I'd probably look for something more like a coupon organizer.

Michelle

we use regular envelopes. I have one for each week with a set amount of money in each envelope. I have been doing this for years. I just take out the cash before I go to the store.

Just curious...do you carry any of the cash envelopes in your purse? As mentioned for the gas and groceries and such? What happens if that purse gets stolen? That would be a lot of cash missing!

I'm a never carry cash person...but stick to my budget very well. Everything is tracked in the computer at home and running reports showing exactly how much I've spent on groceries for the month is very helpful...which helps stay within budget. I just don't feel comfortable carrying that much cash...

I use two zippered pouches I found at Dollar Tree. They are large enough to hold cash flat plus all my receipts. They look like a small makeup bag--you may have a few around the house already. Cash goes out, receipt goes in. When I used regular envelopes the money would always fall out in my purse. I use one for groceries and one for household items. Spending money goes in my regular wallet.
For kids, just have them use their wallet or purse--do they have spending categories outside spend/save/give? Savings goes in piggy banks. Mine are too small to hold their money so giving goes in my purse and I hand it to them in church when the basket is passed.

I am with you here! I rarely carry cash with me. If your purse gets stolen you are out the money, b/c there is no way to prove you had cash in your purse. If I do have cash on me, it is never more than $40.