Money Management the Envelopes Method
Many of you may have read the recent post 15 ways stores trick you into spending money by MSN Money. If you have not, you should, it really is a great read. And if you can recognize the 15 tricks the article exposes you should be able to save a grip of money next time you visit the grocery store. But, here is another secret (actually secret is a poor word choice because I want you to tell everyone about it) you can use to save money every time you go to buy groceries - walk in with a budgeted amount of cash in an envelope. Guess what, you are not allowed to spend any more money than the envelope contains. This is a little budget help the envelope budgeting way!
I think the current mortgage crisis is evidence that money management ability is not on the list of "strengths" for most Americans. In other words, we all need a little help in cutting back on bad spending habits. For decades, people have found that budget help with the envelope budget system. Today's money management software allows you to ditch the physical envelopes in exchange for virtual envelopes, but the system has remained the same.
You can find literally thousands of success stories from individuals who have lived by the envelope budgeting system. Of course, there are dozens of other budget programs, so go out and find one that works for you. Remember, the stores can get as tricky as they like, but it will have absolutely no effect on your spending habits if you live within a personal budget. Good luck.
