World of Money

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Personally I do much better when I see cash in an envelope

Published / by momadmin

Some of the sinking funds envelopes we have are for:
Roof–this is actually started WAY in advance of needing one. We put a roof on a year ago and I figured what we’d have to save if the roof lasts 20 years. Divided that by 20 years then by 12. I am saving $50/month. Realistically I believe our roof won’t last 20 years simply due to living in hurricane territory. If it’s ripped by a hurricane, we’ll have a deductible, then the rest covered by insurance. I figure anything we save will go torwards the deductible if it has to be replaced sooner than 20 years.

Car–tags, drivers licenses, maintenance, etc.
Car Insurance–We make a single payment every 6 months and this saves us a $5 monthly fee that is charged when paying monthly. Recently I figured out that our next insurance bill will cost us more and have had to amp up how much I am saving, kinda putting a squeeze on the budget. 🙁
Blow Money–dh and I each get this in cash. He gets less than me because his clothes basically come from our store, which is taken out of end of year profit. It covers clothes, personal entertainment, meals that are taken personally, not part of the family eating out, hobbies, etc.
Hair cuts/color–a haircut for each of us and a color for me. I have been getting mine at the beauty school and it saves a ton of money. All students are supervised by instructors and their work is checked before the client gets up from the chair.
Pedicure–I have issues with my toe nails that would require going to a podiatrist, or getting a professional pedi. I choose not to sit in a doctor’s office. Plus I get my nail painted! 🙂 The nail technician I go to has been doing this about 25 years, by appointment only. Not one of the walk-in places where no one speaks English!
Restaurants–we budget for eating out as a family. It’s not quite a much money as I’d like but close enough.
We have a lot more sinking funds but I think you get the idea. I am very tactile … I love to touch and feel things … it is part of my scrapbooking, coaster business, etc. so it is natural it would carry over to handling money. It makes it much more real to me to see the cash dwindling or growing in any given envelope.
I’ll quit for now but I hope that helps.