in an effort to "build my credit", i tend to make virtually all my purchases on my credit card.
though i always pay it off, too many a time my jaw has dropped upon seeing my balance.
anyone else do that thing where you hold your breath and wince while opening the envelope?
just me, huh?...
this year, i vowed to take better control of my finances and actually stick to a budget and all that jazz.
but finding an efficient way to do this has proven difficult...until now.
enter dave ramsey and his "envelope system".
dave ramsey is a financial guru and i came across this article of his while on my study break and am sold.
basically, he encourages people to adopt a cash only system in an effort to set spending limits for themselves.
one simply creates budget categories and assigns each one an envelope.
in each envelope you then put in the amount of money you allotted for a specified period of time.
once that money is used up, you're done until the next time you top-off that envelope.
he swears by this method of budgeting because as he puts it "there's something psychological about spending cash that hurts more than swiping a piece of plastic."
(i laughed upon reading that sentence because i can tell you that there have been times when i've had cash on me yet still opted to "swipe".)
i get paid this week and will start the process of shifting over to the whole cash in envelope system of budgeting.
i haven't started to set categories/budgets just yet (exams, gahh) but am thinking of starting with tithes, food, transportation, toiletries, clothes and entertainment (aka. fun moneyyyyy!)
i'm excited to get started but i know it'll be tempting to just go to the ATM once i'm out of money.
i'll let y'all know how it goes...
ps. me after watching the scandal season finale...
i can't with shonda.
i just can't.