So, what is mad money and why is it so important when creating a budget. First of all, mad money is a certain amount of money that is set aside in the budget for yourself and your spouse. This money can be used by each party for whatever he or she chooses. For instance, if the budget does not allow for a month facial, the woman in the relationship could take her fun money and get a month facial if she so chooses
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.