I'm a big believer in the notion that cash is king when it comes to paying for items. If you don't have the cash, you can't afford the item and shouldn't buy it. Traditional means of budgeting to help curb spending is the Cash Envelope system. But there are clearly some disadvantages of that. There's also a 21st century version of the Cash Envelope system called Virtual Envelopes. We'll explore how you can implement a Virtual Envelope system using your budgeting worksheets.
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.