Almost everybody I know, which includes me, has let a budget get out of control at one time or another. I really think it used to be able to control personal finances because it was not as easy to spend money. As I work on my own budget, and as I speak to people I know, here are some common problems that get people in trouble. Debit and Credit Cards. It is just so easy to buy things by swiping a piece of plastic that we lose track of how much money we spend. A decade or so ago we spent cash or wrote checks. It made us think about spending money more as we had to carry enough money or go through the act of writing and recording our checks.
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.