Envelopes / Direct debits

Hello Dear Reader,

We just been paid on Friday, so following Dave Ramsey's technique - my financial guru. I have set up a simple system. Added all of my direct debits, know how much went into my bank account and have taken the rest out in cash. A couple of months ago since reading Dave's books I gave my credit cards to my friend's Mother to look after and have been trying to manage without them!! As its only my wage, no maintenance or other assistance raising two kids is tough!

Today I have started Dave's envelope system I have divided the remaining cash for wedding gift money (wedding tomorrow!), food, petrol, school dinner money. So each envelope I have written "Thank you for  my abundance" (Part of law of attracting more money) and how much is in each envelope. Simply when you spend anything out of the envelope you deduct the amount you have left and its must last the month! (gulp!). So when its gone its gone! No more cash point withdrawals!
Each pound must be accountable (you can have a blow envelope - just to spend for fun as well!)

Psychologically you are less likely to overspend using cash as opposed to swiping credit cards or debit cards. Where I know sometimes I couldn't even tell you the amount I just swiped! I paid last week for my car service in the Audi garage using cash and they looked at me a bit strange! I even had it reduced because they didn't have change!

The idea is through time you will dump debt and build wealth! so there will be no Amazon, Internet purchases (gulp!) Have a read of this guy's books, listen to his radio station - it will blow you away!

Em x