If you are sick of living under a pile of unpaid bills that just keep racking up, then it is time to discover one of the possible solutions to help you get out of debt fast.
There are many ways to help yourself manage your money, but if you use envelope budgeting you may just be able to pay off some of your debts yourself without having to hire a financial adviser or a debt service to monitor your cash.
Here is how it will work for you.
First, you will need to put yourself together an accounting book.
This book needs to have a tab for each bill you pay, spending money, savings, car maintenance, and any other expenses that you pay either monthly, weekly, daily, yearly, or quarterly.
All of your expenses should have a log in this book and you also need a general log for the running total of how much money you have in the book.
Second, with envelope budgeting you will take each category that you have a tab for and you will make an envelope for it as well.
This is how envelope budgeting works.
When you make money and you get paid you will take the cash and put the amounts that you need to in the proper envelopes.
Make sure to record the money in the log and when you spend it to pay a bill or to pay towards something make sure you log the money out so that you have a record of all your transactions.
Last, the point of using this system is to get the money out of your pocket and into a place that it is safe, but out of your mind and out of your sight.
This helps you to know that you really do not have the money to be spending on just anything.
This will help you to put the money aside and use it for the proper reasons instead of just for anything you need.