I hate to carry cash. I don’t know why exactly. Maybe because trying to dig the exact amount of cash I need out of my wallet seems inefficient in the world of the debit card. So, when I started trying to find an easy way to budget my money and someone suggested that I use the cash envelope system, I cringed and immediately shot the idea down.
Going to an ATM weekly, separating cash into envelopes, carrying those envelopes around in my purse, and having to count out cash for each purchase was just not something I was going to do long-term. I know myself well enough to know that.
Eventually though, someone suggested I apply this “envelope system” loosely to the way I used my bank accounts, and wouldn’t you know…it actually worked. I simply used my bank accounts to create a very useful, non-restrictive way to budget.
Here’s how I structured my accounts to help me quit overspending and actually save more money…
Creating this type of structure allowed me to get a really clear picture of how much money I had to spend versus what was already committed for bills. Plus, seeing a lower balance in my spending account had a huge impact on how easy it was for me to spend frivolously.
If you like the idea of separating your money without carrying around envelopes full of cash, try this! Hopefully it works for you, too.
For more information on United Bank Kasasa checking accounts and the qualifications required to earn rewards, visit our personal checking pages.