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I tracked every dollar for 6 months with a spreadsheet then switched to a cash envelope system and one clearly worked better

The spreadsheet let me see where money went but the envelopes actually stopped me from spending it, so which approach actually wins for long term budgeting?

2 comments

2 Comments

simon_sanchez5810d ago

My roommate tried the envelope system for 3 months and kept losing the envelopes, lmao. He found one behind the fridge with $40 in it like a year later. Spreadsheets work better for my brain since I can color code everything and see the patterns over time. Different strokes I guess.

morgan91510d ago

Go with envelopes for the first few months to build the habit, then switch to the spreadsheet once the envelope mindset is cemented. That's what worked for me anyway.