As many of you know, my husband and I have been struggling with our finances for quite some time. We made choices (a long time ago....it seems) that we are still dealing with today.
Well anyway, I have come to the conclusion that we should pay ourselves first. (This does not mean that I am going to go out and buy that surround system my husband has had his eye on for over a year, but that I am going to make sure that I have enough money to give the proper nutrition to my family.)
Each month we attempt to pay off more of our debt, put sometimes it seems that we make little progress. After several weeks of having little or virtually no money for necessary grocery items, I have decided to start the envelope system for the expenses that I have some control over.....like my groceries and gas.
Here is how I have divided up the $473 each month for our variable expenses.
|Target Brand Diapers||$15.00|
|Baby Food (Oatmeal, Jars, Puffs, Etc.)||$20.00|
I have allotted $22.00, bi-weekly, for the gas for my vehicle (which gives me approximately half a tank...this amount is typically enough to get me through the 2 week time period).
This means when we get our pay check $220 will come out automatically, before anything else. Any extra cash I have in the envelopes at the end of the month will then go into a "grocery savings account". I will use this money to off-set the costs of adding a new little one to our grocery budget in November (diapers, food, formula, etc). Now, if only I had the money available to fill them ;o).
What do you guys think? How do you control your variable monthly expenses? What advice can you give me to make this idea come to life?
Can't wait to hear from you all! Blessings!