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Is Dave Ramsey's Envelope System Worth Trying?

In summary, Dave's sale is ending soon and he recommends getting the "wallet" for only $10. The wallet has a variety of styles to choose from and it's a good investment.
wadesgirl
wadesgirl
Gold Member
11,412
I'm thinking of cracking down, setting a budget and using the envelope system. Dave is currently having a sale and I can get the "wallet" for only $10. There are few different styles so I have no clue which one to get. Is it worth it to do this? How easy is it to stick to?
 
have you read My Total Money Makeover?We do a budget, use cash envelopes. I just got my cash from the bank yesterday, in fact. :)Check out www.mytmmo.com. I think you can do a free 2 week trial. I was (and still am) a member over there as we made it through baby steps 1-2-3 and it was a GREAT source of info and motivation.
 
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Read it twice actually! I'm ready for something new. Since we just paid off most of our debt I would really like to buckle down and start saving again for our down payment and watch what I'm spending.
 
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Very interesting I just checked out the website. Hmmm... It's a week free trial but if I sign up now they are offering some of the stuff for free. If I wait they are offering a smaller selection of stuff for free. If I do the free trial now then by the time I get paid by PC I'll have more money in my account. What to do... I really wasn't budgetting for this but I know it will be a good investment!
 
We paid off over $30,000 in debt (cars, bills, misc) and saved thousands in our "emergency fund" while on the program last year. I have been off the system for a few months and am ready to get back on the bus...the $19.95 Wallet System is GREAT (and on sale for $10)! I got the TMM Book and Wallet System for my adult children, too. Great gifts!
 
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jwpamp said:
We paid off over $30,000 in debt (cars, bills, misc) and saved thousands in our "emergency fund" while on the program last year. I have been off the system for a few months and am ready to get back on the bus...the $19.95 Wallet System is GREAT (and on sale for $10)! I got the TMM Book and Wallet System for my adult children, too. Great gifts!
Click to expand...

I gave a friend of mine my copy of TMM and thought about getting her the wallet system too.
 
I use the cash wallet from the Dave Ramsey stuff. I have the red deluxe one. I love it!! It is soooo easy to use and keep up with!
 

Related to Is Dave Ramsey's Envelope System Worth Trying?

What is the Dave Ramsey Envelope System?

The Dave Ramsey Envelope System is a budgeting method created by financial guru Dave Ramsey. It involves dividing your cash into specific categories and keeping them in separate envelopes to help you stay on track with your spending.

How does the Envelope System work?

The Envelope System works by first creating a budget for all of your expenses, including groceries, gas, entertainment, etc. Then, you divide the budgeted amount for each category into separate envelopes. As you spend money throughout the month, you only use the designated envelope for that category. When the envelope is empty, you cannot spend any more money in that category until the next month.

Is the Envelope System effective?

Yes, the Envelope System has been proven to be an effective budgeting method for many people. It helps you stay accountable for your spending and prevents you from overspending in certain categories. It also allows you to see exactly where your money is going and where you may need to adjust your budget.

Can I use the Envelope System if I don't use cash?

Yes, while the Envelope System is traditionally done with cash, there are digital options available. You can use budgeting apps or online tools to create virtual envelopes and track your spending in each category.

Do I have to use the Envelope System for all of my expenses?

No, you can choose to use the Envelope System for certain categories that you struggle with overspending on. For example, if you find yourself constantly overspending on dining out, you can use the Envelope System for your dining out budget to help you stay on track.

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