My Quest to Find the Best Budgeting System
Using the envelope method
In November 2020, my husband and I sat down for a frank conversation about our finances. He’s an accountant at a local bank, and we both have a Bachelor of Science in Accounting. There is absolutely no reason our bank account should hemorrhage money, but every month our savings account got smaller and smaller.
I could give you many explanations: We bought a house built in the 1940s last year and junk keeps breaking; the pandemic messed up my work schedule; my parents died, and probate fell on my shoulders; we ate out too much because we deserved it! My list of excuses is a mile long, some are even valid.
In college, being the typical broke students, we budgeted every dime we earned. Once we graduated and found jobs, laziness set in. We tracked some months, didn’t track for months after that, we’d tighten our belt buckle again — the cycle kept repeating itself. Renting meant we lived cheap, and dual-income meant more money coming in than we required. We didn’t NEED to pay attention.
Now life’s different.
Buying a house is an enormous undertaking. I walked outside after the first major windstorm to survey the damage; I spied broken limbs, upturned planters, and garbage all over the lawn. Then it hit me, this was my mess to deal…
