Virtual Envelope Advantage : It's Easy to Get Started _ To get started, ask your bank if they can set up your Virtual Envelope budget categories as sub_accounts underneath your savings account. There should be no charge for doing this. If your bank will not provide this service for free, check around for other financial institutions in your area, including your local credit union. I've done virtual enveloping for about 30 years through a couple different credit unions. I've also had a couple colleagues using this approach. So don't take "sorry, we can't do that" as an answer from your existing financial institution.
Budgeting Worksheet Tip : Your Personal Cash Flow Analysis _ A fully functional budgeting worksheet should calculate your monthly cash flow analysis so that you can determine if you are overspending based on your income on a monthly basis. In order to determine your cash flow for the month, you will need to provide your monthly income information. A good worksheet should do all the math for you, generate a meaningful chart or two so that you can quickly see the areas in your budget that need to be improved upon. If you are over spending, you will need to adjust. If you are under spending, start saving towards your goals!