Why I Use the Envelope System
Angely Mercado

I know the envelope method works for a lot of people, but the huge problem with it for me has always been that it requires cash. I don’t keep cash on me as a rule — maybe a couple dollars. Maybe nothing. First because getting cash is something of an ordeal (my bank doesn’t have any ATMs around here, and there’s always cashback at the store but I have to be making a purchase), and second because if I have cash, I spend it. It’s already out of my bank account, the numbers are already accounted for, so it feels like “free money.”

Even if my cash made it into the envelope, I think I would still find my savings account(s) much more satisfying — watching the numbers measurably tick upward, rather than never knowing exactly how much money is wadded up in that envelope. But I don’t have the particular issue of needing to trick myself into saving; I save compulsively, trying to feel secure against the next inevitable disaster.

Congratulations on finding a method that works for you! It sounds like you’ve done fantastic things with it.

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