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How To Set Up The Dave Ramsey Cash Envelope System & Fill Your Envelopes - YouTube
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hey friends at welcome to freedom in a
budget. I'm Kelly and today we are talking
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about the cash envelope system this is
me everything that you need to know
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about the catch em elope system I'm
gonna answer all your questions it's
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super super easy so many people try and
complicate it and they don't understand
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it I didn't understand it at first but
now I do now I love it I mean doing the
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casual system for 3 years now
3 I think about 3 years so it's really
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really helped control your spending so
the theory behind is with the cash
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envelope system that DMC teaches is when
you were spending with cash if you feel
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it more when you're spending spending
with a card and swiping and even just
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the tapping pay on your phone with like
samsung pay and Apple pay you really
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aren't feeling it you're not feeling the
pressure you're not feeling just the
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cold hard cash but when you are having
to hand over 20 or even more you're
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feeling it you're like huh no like this
is mine I worked hard and it really just
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changes your thought process of holy
crap I okay I'm gonna I'm gonna stick to
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my stick to my budget and also it really
helps control your spending so what I do
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is when I go to the grocery store or
other places like that
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I leave my debit card at home I don't
even take it with me so if I have 50
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dollars to spend in my total comes to 51
dollars rather than me like yeah it's
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okay it's an extra dollar that's that's
no big deal
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no I'm putting something back like I'm
looking at what's on the line and I'm
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like well alright ice cream instead of
go we gotta cut that or only one thing
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of something rather than two or three so
just really cutting your expenses really
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just zoning on what is necessary and
what's not so just the psychological
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reason how has changes your thought
process it's it's just a game changer so
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I personally fill my cash envelopes
twice a month I fill them at the
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beginning of the month and then at the
15th of the month and that just helps me
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a lot of people say that I don't want to
carry too much cash around edge too much
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but if my wallet gets stolen totally get
it
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if that's the case and that's your fear
then fill them once a week fill them you
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know every couple days or only take cash
out when your
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me going to the store so maybe have your
cash elopes at home and then you're
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running to Publix you're running to Aldi
or whatever the store maybe then you
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take your cash out just for that
shopping trip and also guys no one knows
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how much is in your wallet so when they
see this this could be full of cards
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this could be full cash this could be
full of nothing coupons who knows they
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don't know that this is cash analyst in
it they don't know just looking in my
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wallet that I do the cash evelope system
so yeah I understand that you may feel
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more uncomfortable carrying cash but if
someone's gonna steal your wallet
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they're gonna steal your wallet and
honestly to me I'd rather have someone
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steal $20 after my wallet didn't have to
go through dealing with them stealing
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all of my cards and all of that and just
getting replacements and all that so
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it's just changing your thought process
of that and I'm just gonna break it down
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super easy of how I fill my cash em lips
so here is what I do
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I personally filled three cash envelopes
I do grocery eating out and pocket money
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and so this is just breaking it down so
for groceries I spent this is just for
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two weeks two weeks not the whole month
for groceries
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I spend $100 every two weeks so $200 for
the month for groceries eating out it's
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$50 and personal spending money is $50
for total of 200 and then when I go to
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the bank I just give them a little post
note with what I want or some of them
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Salima just do cash back at the store
and I tell them okay for this breakdown
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I need eight 20s which is $160 two
tenths which is $20 two fives which is
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ten dollars and ten ones which is ten
dollars which equals two hundred dollars
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so they match exactly then I have my
little savvy cents wallet here guys this
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is I love this quality this is the
second savvy since wallet I bought the
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other one was amazing as well it was
like a teal chevron pattern and it was
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still an amazing condition still great
condition after three years but I had
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just been looking at this Burberry print
for so long that I just I used some
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personal money and I bought it so it has
a section here for cards I have
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some Costco cards here then this is
where I keep my debit card here then I
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have Leandra the boy that we sponsor and
then my license here but I took that out
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so that you guys don't steal my identity
right so then it has these awesome
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sections and guys I'll have an Amazon
link to this down below as well so it
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has these great sections that have these
little dividers so this one is grocery
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then we have entered restaurants or
eating out and then entertainment I
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don't call energy my just call it pocket
money so they all have those dividers so
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what I'm gonna do is take my cash and
I'm going to stop them so the first
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section is grocery that is a hundred
dollars for the two weeks so twenty
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forty sixty eighty one is and this just
goes behind grocery right here next
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section is eating out this one here or
restaurants and this is gonna be fifty
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dollars and this I kind of break this
one down a little bit because for
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restaurants I like having I like having
ones and singles and fives and stuff
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just to make it easier with tipping and
this nut and since I'm hang with cash
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it's easier just to leave them you know
twelve dollars versus getting fifteen
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and then having to get cash back or
whatever it is
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so for restaurants it's 20 30 35 40 41
42 43 44 45 46 47 48 49 50 50 dollars
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for restaurants and that goes right in
here
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and then entertainment is right here
this is $50 so 20 40 50 and that just
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goes right here and then there's two
other sections back here now you can do
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five cash envelopes you can do for you
can do three you can do however money
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you want there are other like sub
dividers too so if you want to have ten
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that's totally fine but what I do is I
have this section - right after
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entertainment and personal this is where
I keep my receipts that are not logged
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so they haven't been logged in my budget
yet and then I love every purchase in my
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book you guys see my monthly budget
report cards and my budget my Excel
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budget template so I walk everything if
I spend $75 at a vending machine I log
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it in my budget so this is where all my
not logged receipts go and then this is
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where all of my log receipts go and and
then this is more categories if I want
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to add them so that way I keep track of
everything and it is cleared out because
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it is the beginning of the month so I
don't have any receipts that I have to
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log so I do that and then also another
question that I get asked a lot is
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change what do you do for you change how
do you figure that out and I just put my
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change all in the same section like just
I just put it all in the same cash
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envelope or in the same envelope I don't
separate it out per category like if
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it's five dollars and 37 cents I don't
put the remaining change in that
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category I just put it all in the middle
and then when I can I pay exact change
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so if I'm gonna do store and it's you
know 1292 I give them 92 cents out of
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here so that way it just keeps down on
the change and I feel like it keeps more
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dollar bills in your wallet as well
which is awesome so guys this is the
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cash envelope system it's not hard it's
so easy I absolutely love
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here is how it looks so easy to just
pull the cash out for whatever category
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you have and keeps it so simple and then
guys you ready for this when you're you
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know just just going out you know you
don't want to bring your whole purse or
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anything it has this and it has a little
lanyard so you can just bring this and
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you are good to go
I love this one guys absolutely love it
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so this is the cash envelope system this
is savvy Sims wallet let me know if you
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have any questions I would be happy to
answer any questions for you guys all
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right I will talk to you later bye
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