Personal Finance
How to budget with envelope budgeting to save money easily
By Investment Moats  •  November 28, 2010

Many people have asked me what kind of budgeting method I find is the most effective in budget planning. I don’t think they deviate much but the one that I find the most effective is Envelope Budgeting.

What is Envelope Budgeting?

It is a systematic way to plan how much money you have to spend and how you go about to spend it in a control manner.

How does Envelope Budgeting work?

How to budget with envelope budgeting to save money easily envelope budgeting thumb

Envelope Budgeting can be broken down into 4 steps:

  1. Plan your budget spending categories
  2. Create envelopes or containers to hold the cash allocated to spend
  3. Spend within the limits set!
  4. Monitor and Review your Envelope Budgeting Plan

1. Plan your budget spending categories

First step is to create categories of what you will spend on. Take note to include the most obscure spending, such as a one time child kindergarten fee, or a fee on an art course.

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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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