Dave Ramsey's Envelope System - Page 3

ccassaday · ‎10-21-2010

On 9/27/2014 RibbonsRosesRainbows said:
So I guess I can look up on line dave ramsey and the envelope system?

I can give you and overview. You don't need an envelope for bills. Your envelopes should be marked for clothes groceries gifts stuff like that. After you pay your bills and put money into savings every week decide how much you want to put in each envelope. If you have something big you want make an envelope for that and save for it. I love I can put ten to twenty dollars say in a gift envelope every month and that is my birthday gift and Christmas gift money. Figure out what you spend on gifts for the year and divide it by twelve and that is what you would put in it every month. Also have a blow money one thAt you can spend anything on. If you end up not using all the money in each every month maybe adjust it or put it in savings. Or maybe you won't have to put that much in the envelope next time and it can go in the clothes one. The important thing is when your envelope is gone its gone. I would sit down every payday and what you have left after bills ans savings tell every dollar wear,to go

penny2k · ‎03-18-2010

He does make money from the company he built by selling his Financial Peace U, his books, his little tools, etc., but I will say that I listen to his show and he very often gives scholarships to FPU, books, tickets to events, and the like to people who need them. He also makes money by investing and in real estate. I've done FPU; it's great and I highly recommend it if you're interested. I keep meaning to look for a schedule so I can do it again-it's fun! And I could use the boost.

ccassaday · ‎10-21-2010

A lot of churches also will have FPU classes.

millieshops · ‎03-09-2010

Nothing against his system - if it works, use it, but there's nothing magical about his system you can't create for yourself for next to nothing. The trick is to DO IT and use it.

A box of envelopes and a magic marker anyone?

ccassaday · ‎10-21-2010

Nevermind

ccassaday · ‎10-21-2010

On 9/27/2014 ccassaday said:
On 9/27/2014 millieshops said:
Nothing against his system - if it works, use it, but there's nothing magical about his system you can't create for yourself for next to nothing. The trick is to DO IT and use it.

A box of envelopes and a magic marker anyone?

Sometimes people just need a starting point and he helps with that. I knew all of this but when he makes it easy to understand it makes getting started easier. I had fun and made my own envelope wallet. I got pretty scrapbook paper and made mine. It was easy and turned out cute and fun.

ccassaday · ‎10-21-2010

Plus anyone at any income level can do this.

esmeraldagooch · ‎03-10-2010

I love Dave and his financial peace plan. I used plain envelopes for his system. You don't need to spend a dime to learn everything about this budget. His radio show is on many channels each week day, the books are available at your library. His plan is easy and works.

AuntG · ‎03-09-2010

On 9/26/2014 RibbonsRosesRainbows said:
I am so glad you brought this topic up. How does the system work? What do you do with envelopes? DO you set aside money for each week and when its gone its gone and then put bills in envelopes for when they are due? Thank you.

A friend went to a budgeting class with her MIL, who had gotten into all kind of trouble borrowing from one of those payday loan places. Now the whole family is on the envelope system. They basically label regular legal size envelopes with their budget categories. Then they figured out a budget and money is put inside the envelopes and used just for that purpose. You're right that when it is "gone, it's gone" and she has to wait until the next month's budget.