If you are searching for budgeting ideas you are probably already familiar with Dave Ramsey's advice. Live within your means, create a budget, pay off your debt, blah, blah, blah. Right?
I have been very interested in the envelope method but I didn't know if I could set up a budget without upsetting the fragile ecosystem that I call home. I could just use the Ramsey worksheet and base my budget off our income, however, maybe our wants and needs are different from his ideas. The Ramsey idea is a good place to start. Don't get me wrong, it's a good idea but it could get really confusing when you get the the envelops and actually start employing them in real life. Besides, we haven't been on a cash only basis in like...ever. We use debit and credit cards in our house with minimal cash use. After all, it is the digital age.
Oh no, you have credit cards, you say? *GASP* Yes, we use credit cards...responsibly. Since we pay off our credit cards every month our credit score continues to increase and we don't pay interest on them. There have been a few times that I've held a credit card balance over a month or two but major events have happened. Like, we moved across the country and were waiting for reimbursements. I've seen a few posts about opening numerous checking accounts and using the debit cards as virtual envelops but that can get just as confusing. Not to mention the fact that my wallet doesn't have that many card slots.
So, what ever do I do? I use Mint.com and Dave Ramsey's budget guidelines. Mint takes a little bit of effort to set up. You also have to be a little trusting in the internet. I can assure you that your password secrets are safe with Mint.com.
Before we go on, I'd like you to head on over to Mint.com and get yourself all set up. Just get your accounts set up and we'll talk about how to really put it to work in a later lesson.
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