When we sold our home and moved into our 5th wheel, we decided we wanted to start paying cash for things and keep track of our spending. The first month was a bit mixed up trying to take money out of the proper envelopes and keep everything straight.
So Nov. 1st I thought I'd try a new way to pay. I got the same amount of cash out of the bank that we had originally allotted and instead of dividing it up into categories I just put all the cash together and each time I spent money I put the receipt in the back of the envelope.
Since this is Dec. 1st, I removed the receipts from the folder and wrote them out in a columnar pad. Man we shopped a lot. There were over 68 receipts in there. I have not added each category yet but they are written down and ready to add up. Maybe Mollie would like to do that part.
I am hoping this will help us understand where our money is going and what our spending habits are.
It was definitely easier to put the money all together and keep the receipts than it was trying to keep a bunch of categories of money in envelopes separated and straight. Lots of times I buy food and screws and towels all in the same store and that's 3 different categories, whew what a head ache.
That sounds like a really good approach to me. I hope you'll tell us how it turns out for you.
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