Dave Ramsey Envelope System

[mommy2twocuties]

Help me out :) I am trying to figure my monthly envelopes and what I will need for each one. We are a family of four. Can you share with me what categories your family uses and how much you put in each envelope and your family size. Thanks so much :)

[KrispyKrittersUSA]

That's a great question, I'd love to read the responses to this as well. Thanks for thinking up a good one!

[jenrose]

I think number one thing is to calculate a budget. You can use the forms off Dave Ramseys Website and list all your bills. He puts an asterick next to the categories he suggests you use the envelope system on. Once you have that budget listed out you can use it to see how much you should have in each envelope.

Before you can budget your envelopes you need to put down your other expenses and income to see how much money you actually have so you can budget accordingly.

[joshmamabear]

another thing to remember prior to doing this envelope system,

this isn't for those who are forgetful or seem to lose things frequently. keep in mind that when cash is lost/stolen, it is gone forever. compared to DC or CC, they can be replaced when lost/misplaced/stolen with minimal or zero liability on the user's part.

[frugalstafar]

the envelope system is on sale today (only a select number though) for $12 through the Dave Ramsey site.

[My3sons]

We have a family of 5. I only use 3 envelopes. They are not "Dave Ramsey" envelopes, just standard business size...when they rip, I just pull another one out of my box of 50 that I got really cheap. Dave sells envelopes that cost about $15 or more for a set.

I have labeled my 3 envies: Food, Goods/services, and Entertainment/Eating out

We use our debit card for gas.

Here is our breakdown, which will vary by your family's income and needs.

Monthly:

Gas $200 - debit card
Food $400
Goods/services $200
Entertainment/eating out $120
Allowance for DH and I $120 - we pocket this, no envie

I don't have a month's worth of cash in the envelopes, I only take out a week's worth at a time.

Hope this helps!

[mommy2twocuties]

What is your good and services? What things fall into that category? Wow! you do an amazing job on keeping yourself in budget....Those are some nice low numbers! I have got to work towards this.

We have a family of 5. I only use 3 envelopes. They are not "Dave Ramsey" envelopes, just standard business size...when they rip, I just pull another one out of my box of 50 that I got really cheap. Dave sells envelopes that cost about $15 or more for a set.

I have labeled my 3 envies: Food, Goods/services, and Entertainment/Eating out

We use our debit card for gas.

Here is our breakdown, which will vary by your family's income and needs.

Monthly:

Gas $200 - debit card
Food $400
Goods/services $200
Entertainment/eating out $120
Allowance for DH and I $120 - we pocket this, no envie

I don't have a month's worth of cash in the envelopes, I only take out a week's worth at a time.

Hope this helps!

[nagrom13]

I love the envelop system have used it before and am going back to it....one big problem how do you get your dh who agrees about a budget to follow the system.

He knows we are on a budget and "doesn't understand" how we spend over but eill go to costco and spend 300 without even asking how much we have.

Budget only seems to apply to my household spending but then I'm accountable for all the extra?????

[joshmamabear]

I love the envelop system have used it before and am going back to it....one big problem how do you get your dh who agrees about a budget to follow the system.

you have to convince and make your DH understand to get him on the same page,

or it will be an exercise in futility depending on how much more he spends that you can save.

[nagrom13]

Where on dave ramsey website is the budget sheet...can't find it