Virtual Envelopes can co_exist with Cash Envelopes just fine. Use the Virtual Envelopes for those monthly expenses that you would normally write a check or electronic payment. Examples would be mortgage/rent, taxes, car repairs, utilities, savings, debt pay_down, etc. Our budgeting worksheets incorporate the strategy of using Virtual Envelopes and help you set up your accounts accordingly. We define auto_pay, e_check, and other banking terms that will guide you to set up your Virtual Envelopes effectively in managing your monthly budget.
When you start working with making a household budget it is extremely important to track your spending and all your expense both on a weekly and monthly basis. Many people dread tracking their expenses and recording every receipt but this is by far the best way to gain control over your spending. There is always a huge gap between what people think they spend and what they actually spend each month. So, tracking your spending is the only way to establish a working budget.