DifferentLI’s digital ‘envelope system’.

Pretty much everyone in the financial sphere has heard of Dave Ramsey and his envelope method. Basically you withdraw the amount of money that you have budgeted for each week/month in certain categories and you keep them in designated envelopes. For the rest of your money it’s out of sight, out of mind.

I tried this method but it was difficult for me to keep withdrawing amounts on time and I felt uncomfortable carrying cash everywhere with me! So instead I developed a digital compartmentalising system that works perfectly to keep my money away from me and in my savings account!

This system has helped me save thousands over the past year or so and has been key to keeping me on track with my savings goal! Continue reading “DifferentLI’s digital ‘envelope system’.”