Creating a budget for ourselves isn’t always something that we want to do, but sometimes it’s a necessity. A budget allows you to take control of your finances while being aware of what you spend and what your funds look like. Budgets give you the chance to say no to those impulse items you might have otherwise unconsciously charged to your credit card.

Many of us know that a budget is necessary; however, we are unsure of where to start. Well search no further! After thorough research, we are ready to present to you one of the best budgeting methods to help you git your finances in check this summer! Are you ready? If so, keep reading!

The Envelope Method:

The envelope method of budgeting has been around for quite some time, but it is still proven to be an effective budgeting tool. So what is it exactly? Well, we’re glad you asked! The envelope method allows you to be consciously aware of the money you spend within a week or even a month! Follow the steps below and try this method for the month of July!

1. Configure your monthly income

   

2. Determine and examine all of your main expenses within a month
   1. Food, eating out, coffee, clothing, gas, etc.
3. Create an envelope for each expense and set it to the side
4. Determine a monthly budget for each expense
5. Withdraw the specific amount of cash you need for each expense (You can also write yourself a check for the specified amount and cash it)
6. Place the designated cash within the proper envelopes
7. Click the link for a more detailed explanation: http://bit.ly/1NMHwhP

Congratulations, you have just set up your budget for the month of July! Now the tricky part is actually sticking with it! While you may be tempted to do so, you can only spend the specific amount you placed inside each envelope. Have a surprise expense? Don’t worry about it, create an envelope for those unexpected expenses that you sometimes won’t be able to avoid. The biggest rule is not to cheat yourself. Creator Dave Ramsey says it best:

“Be careful not to borrow from other envelopes. When it comes to the envelope system, it can be very tempting to borrow cash from one envelope to fund some other activity.”

With this one simple rule, you are sure to find success. And don’t worry, since this is only a monthly budget, you might need to adjust the first few times. You have to find what works best for you when it comes to which categories have the most money. So what are you waiting for? We have given you the tools to git your finances right! The question is, are you up for the challenge?

Scared the envelope method isn’t the best fit for you? No problem! We have found a few other budgeting methods that are sure to work: http://bit.ly/28ZI1qz. Don’t forget to like us on Facebook and share your budgeting success with us! It’s time to #GitFit!