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Wednesday, October 28th – Wednesday, November 12th

Let's face it, sticking to your budget is one of the hardest things when it comes to budgeting. It's easy to get caught up with overspending, bill due dates, and income circumstances. If you are on a tight budget or have limited income, there is only one budgeting method that I recommend.

The cash envelope system is a budgeting system that I have used and it's the only reason I was able to take back control of my spending. So how does the cash envelope method work?

Let’s assume you get paid 2 times a month for a total take home income of $1,000. You budget $500/month for your groceries. When you get paid with your first paycheck of the month, you go to the bank and withdrawal $250, and put that cash in an envelope and label it “groceries”.

The ONLY thing that you can spend that cash on is grocery items. This is where you need to have discipline. If you go to the store after work and realize that you don’t have your envelope, go to your house and get it. If you spend $251 in one grocery trip, you have to put something back because you don’t have that much cash in your envelope.

There is no cheating by using your debit card or telling yourself you will do better next month. This is it. This is your chance to really get a handle on your money.

You repeat this process for your second paycheck of the month. That will total $500/month for your grocery budget.

Repeat this process for all major categories in your budget such as gas, dining out, clothing, beauty, misc, etc.

The number one question I get when it comes to using the cash envelope method is what envelopes to use and how to organize them.

Today, I wanted to share an awesome resource as well as an opportunity for your to get it for FREE.

I am always on the hunt for fun, practical ways to make budgeting easier and I found it with the Spend Well Budgeting System.

The Spend Well Budgeting System is designed specifically for the cash envelope method. It's a way for you to organize your cash in a simple, fun way so you can start sticking to your budget. As soon as I received it in the mail, I was blown away by the additional resources the budgeting system came with. Here is what I got when I received the Spend Well Budgeting System:

A fun, decorative cash envelope binder that includes 10 heavy-duty pages that gives you 20 sturdy card stock folders to store your cash.

Each envelope folder includes 16 lines to track your spending as well as additional transaction stickers to use.

Monthly Bill Tracker which allows you to record your bills for the month so you can keep track of when they are due and the amount you need to pay for each.

Total Debt Owed Worksheet so you can record all of your debt in one place.

Debt Payoff Worksheet which allows you to track your progress as you begin to pay off debt.

Printable Budget Worksheet or Excel Budget Template so that you can use it to set up a budget and start using the cash envelope method right away.

HOW TO USE THE SPEND WELL BUDGETING BINDER

The first thing you need to do is set up and create a budget. Use the provided budget worksheet to create a simple monthly budget so you know which categories you need to have in your envelope binder. Here is a step-by-step guide on how to create a budget to help you get started.

Once you have all of your expenses figured out, you have to go to the bank and pull out the amount of cash that is needed to cover the expenses in your budget. For example, if you get paid monthly and you have budgeted $400 for food, then that's the amount you need to pull out in cash to place in your card stock folders in the envelope binder. Do this for all categories in your budget that you would like to pay cash for.

Once your envelope binder is filled with your spending cash, you need to keep track of your spending on the transaction cards for each folder. This will allow you to see very quickly how much money you have left to spend for each category.

Refill your envelope every month and keep track of your spending a long the way.

Make sure to check out other great printables on the Carrie Elle website today! (check out her shopping list printables – they are adorable and super handy!)

GIVEAWAY DETAILS

When I was looking for my first blog giveaway, this budgeting system was really a no-brainer. The giveaway starts on Wednesday, September 28th and runs until Wednesday, October 12th.

3 WAYS TO ENTER:

1. Leave a comment down below explaining why you need the Spend Well Budgeting System (+ 1 point)

2. Visit and like our Facebook page (+ 2 points)

3. Follow us on Twitter (+ 1 point)

To enter the contest, see the box below!