Actually, I don't really like it already.
I put myself on a budget.
While it's not an absolute necessity right now for me to have a strict budget and a Dave Ramsey inspired envelope system, I decided I needed to self-discipline and start applying financial principles now. They will shape how I handle money in the future. While I can pull money from my savings, if I declare an emergency shopping trip, that probably won't be the case for many more years. I want to stick to a budget, and when that amount for that account is gone for the month...it's gone. No pulling from my back-up plan.
So far I have 6 catagories:
- Adventure Fund
- Gas Money
- Piano Lessons
- Savings Account
- Everything else
At least 10% of my each paycheck is given back to God because of what He has blessed me with.
My usual system was to take out tithe, put 1/2 my paycheck into savings and the other part into checking/debit. Savings I didn't touch and debit was a free for all to spend on anything & everything...but I also used to pay vehicle insurance and gas from that money.
I rarely had cash and used my debit card everywhere...and then I realized how much easier it is to spend money when you don't see it [no wonder people have credit card debt]. And after 4 months of balancing my checkbook with my dad by my side, and it never once just coming out balanced [due to me never rechecking my math after I log in a purchase] I decided to go back to using cash as much as possible. This should help alleviate my mile long bank statements and over spending and a mistake ridden check book.
I feel like a big kid now & I think Dave Ramsey would be proud...well, maybe.