Another Pro is I don't know. I don't have any other pros to be honest with you
My final thoughts is that the cash envelopes system and I have a little bit of beef going on right now not because it stole
My ex-girlfriend or anything. We just have not gotten along in the past so much so that in the past
I created a whole video on a digital alternative for the cash envelope system, but just like some of my past
Ex-girlfriends. I like to give everything a second chance. So that's what I decided to do with the cash envelope system in this video
I'm gonna use the cash envelope system for 30 days straight and at the end of those 30 days
I'm gonna stop and kind of give you my thoughts my
Opinions a little review on the cash envelope system coming from someone who doesn't use it on a monthly basis
Now I'm going to do my absolute best not to be biased
Because just kind of just to kind of get you up to speed
I have not used the cash envelope system in about 7 years 7 years ago is when I started to paying off my
$82,000 in debt and that you did use the cash envelope system for about two months realized
It didn't really work for me at that point in time
so I did end up using credit cards throughout the whole process of paying off my
$82,000 in debt, make sure to Hulk smash that thumbs up button. I'd greatly appreciate it
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So YouTube will deliver them to your beautiful face. Ok
so the first thing that I did in this process is I listed out all of my expenses the
Expenses that I'm gonna have throughout this month that I'm going to pay in cash
So there's some things that I couldn't put on this list because I'm not gonna go to my city to pay my water bill
I'm not gonna go to the electric company to pay my electric bill things like that
I'm just gonna still pay through my credit card and pay off at the end of the month
but I did make a list of 1 to
7 things 7 things that I'll be paying straight cash with the next step in the process is of course to get the envelopes
I've got some basic white girl
Envelopes right here. They're not printables. I'm not trying to start trying to throw printables at you to buy they're not bedazzled
But not all colored and Pernis. They're just basic envelopes
And yeah, this is what I'm gonna use throughout the month as I spend money throughout the month
I'm just going to track it on the front of each envelope
That way I have a running total and I can keep an eye on how much I have left in each of these
Spending categories for this cash envelope system. So what do you say we start making our envelopes now?
I didn't run to the bank already and I got all of my cash
For each expense and I did kind of break it down already
But let's go through how much I'm gonna spend on each category and how much I'm gonna stuff each envelope with for each category
first up is groceries now I spend
$300 on groceries every month just my normal groceries that I eat throughout the week. I hope I spell this right. Here's my
groceries right there
Let's stuff this envelope. Yeah, I'm gonna stuff it
Crap out of this envelope with this grocery budget. Alright three hundo for groceries
Step 1 next we have our cheat meals. Now, I give myself two cheat meals every single week
I spend eighty dollars total in the month. So there we go cheat meals
It's not like cheat meals
Like I'm taking another girl out to cheat on my current girlfriend with these aren't meals to take out that kind of girl
But uh because I don't have a girlfriend right now
So, you know, I can't really cheat on anybody if I'm not dating anybody
So we're gonna stuff this cheat meal envelope with this eighty dollars next up
We've got our gas our gas money now, I spend about $100 every month at the max
I usually don't spend this hundred dollars to be honest with you in a full month
sometimes I do it just depends how much I'm
Driving how many dates I have and how far I have to drive for those dates if I'm being completely honest
But we stuff this envelope with that $100 for gas. I
If I'm gonna guess I'll probably have a little bit of money left over for gas this month
But I'm not gonna lower that in my budget
I'm just gonna leave it at a hundo the next thing I'm spending cash on this month is for my dog
Dog food I spent about $50 on my dog
That's roughly how much her her food is it's like 48 dollars or something like that
It's some all-natural food, you know
Cuz I like to keep my dog nice and healthy, just like I keep like to keep myself healthy
I'm like if I'm gonna be healthy I might as well keep her healthy, too
so there's my dog all stuffed up with fifty dollars next up we have our
toiletries now this can be
Toilet paper. This can be contact solution to brushes
Some toothpaste, you know things like that some some body wash so I smell good and don't stink all the time
Um, so I spend the $20 on that we're gonna stuff this toiletry envelope up real nice and good. Oh, yeah, that's good
Look at that next we have our household stuff going on here. Now. I spend $20 on household items
Everyone the were close to it. Sometimes I won't spend the full 20 but
$20 on household stuff
so you think of anything like in the kitchen so find the paper towels or you know dish soap or
Dish detergent. Is that a thing? I don't even know
So household items things like that. We stuffed this sucker with $20 and last but not least
Uncle Jared here has to get some grooming
So we've got a haircut I get a haircut once a month and I spend it
$22 because I like to tip my people really good because if they mess up my hair then
kind of makes me feel like an idiot and plus I make videos on the internet so I can't be
Coming in here looking all hacked up. Get some hack job on my head from some dude. So I always like to
Tip actually a decent amount. That's probably I spend $22. I don't go to like great clips
I go to like a real barber shop, but it's still pretty reasonable. Well, how much does even cost?
I don't even know I think it's 14 bucks. I give them 22 and say keep the change you filthy animal
ok, so we have all of our
Envelopes envelopes whatever you want to say. I think throughout the month. I'm going to kind of just check in
I think it might pop up on the camera and
Give you some updates on how it's going how uncle Jarrod's doing because this is gonna happen for 30 days. So
this and whatever next take you see is gonna be either me kind of in it and
in the middle of the month or me at the very end when I kind of give my review so
Hang in there. Ok, we are done with the month the cash envelopes system
test
Case study is done. So I'm counting up the cash of how much money I have leftover
Let's find out what it's gonna be. Look at all this cash. I'm rich. Maybe let's find out how much it is
Gosh, there's so many $1 bills
20 40 60
110 20 31 55 89 90 91
191 dollars saved in my budget plus
This change bits change I can't stand the change it's so annoying
Okay, so one hundred and ninety one dollars and change. It's pretty cool pretty exciting
The only thing I didn't actually spend money on at all. This month was my dog. She didn't need food
So I have fifty dollars left over for that
So what I did was I put that into a MOLLE fund because that's the name of my dog
And that'll go towards
Like any future medical bills or anything? I have to buy for her in the future
So I kind of lucked out didn't have to buy any food this month so next month
I will have to so that's what I'm gonna do with that extra fifty dollars and all this extra money
Not really sure what I'm gonna do with it yet. I might should I just invest it. I'm trying to think
You know what? I'm about to buy a car. Yeah. I'm about to buy a car
So maybe I'll put this towards my next car fund if you will, so, I think I'm going today
Alright, so let's get into my final thoughts. I'm gonna go over some cons and I'm gonna go over some pros of
Doing a cash envelope system budget or whatever. Okay, the first thing that I
didn't like was
Basically carrying all these envelopes around it became so annoying
Just having to run home and next year. I had all my envelopes suck go to the store. It was annoying
it was very
inconvenient to have to always worry about these cash envelope system their cash envelopes as opposed to just
Grab you my wallet and grabbing my card and paying with my card
Yeah, I didn't like it and I didn't like it at all
I felt restricted and I mean some people might say why did you just take all your envelopes with you?
I don't want to lug these envelopes around everywhere I go. I don't want to leave a bunch of cash sitting in my car
So in my opinion that's a con is just the inconvenience of carrying the envelopes around next another
Con that a thing that I didn't like was the extra work with
Updating not just the envelopes and everything that I spent when I spent money
Not just updating the amounts on the front the envelope but also updating my budget software as well. That was extremely annoying
It was just double work just so I could account for everything on my envelopes. Yeah, I didn't like that next
Yeah, just in convenience in general tearing
This change is annoying. What am I gonna do with this change now? I don't need any change
You know, so I'm like what am I gonna walk them to the ATM and just hand a bunch of change?
I mean, I normally use
Credit cards, so hold on my furnace just kicked in. Okay, so I normally use cards
So now I'm kind of just stuck with a bunch of extra change and I don't know how long it's gonna sit around for
Whatever that's that's besides the point. Another thing I didn't like is the fact that I lost them
I'm basically losing money for a month when it comes to getting my credit card reward points. I'm so taking a month off
I'm losing out on those perks because I usually
Pay everything with my credit card and pay off the balance before the end of the month. Alright, so let's get into the pros
So Jared, you're talking all this trash about cash envelope system. What about the pros? I thought there were some pros
I definitely felt like I had a good handle on on
My money in general for sure. I don't I don't think there's that's really a con. That's a pro, you know
because you really have a you have a
Decent idea of how much you have left to spend in the budget because it's on the envelope. So that's that's pretty huge
I like that not that I I mean, I'm still okay with that anyways, cuz normally when I spend money
With my card, I'll check my budget software on my phone and just see how much I have left to spend for the month
but I don't know I
Did like the whole?
Tracking it
but maybe cuz I'm just a date a nerd and I like tracking things and
this kind of fed that that need to track things because that's I like do another pro was
That I was conscious about what I was spending
I did notice, you know once you sit down and start to track what you've spent for the day
You really feel it. You do feel it when you spend the cash. I'll give Dave Ramsey at for sure
It's super helpful for that another con and maybe this is just because I got unlucky
Is the fact that I actually needed to mail something out this month
Go figure and guess who didn't have any envelopes in his house?
Because he used them all for his cash envelope system
This guy had to go to the grocery store
Or the dollar store and buy a thing of envelopes because I didn't have any left because I used them all my cash envelope system
Another Pro is I don't know. I don't have any other pros to be honest with you
My final thoughts is that I hate it for me for me
I shouldn't say for everyone because I
Want to be fair and I know that this does really work for other people and other people will really enjoy it
I dated a girl before
Who actually really enjoyed the cash envelope system, so I can't really fully trash it
I'm just saying it doesn't work for someone like me who prefers convenience
And who has a pretty good handle on his money in general. It doesn't make sense for me
I'm not gonna do it again after this month. I'm
Hopefully never going to have to do it again
Unless I get married to someone who loves the cash envelope system
Then I will deal with it and I'll make her handle
All this updating stuff because I don't like it
Yeah, it just felt like such a wasted time when I was sitting there tracking things by hand and then inputting into my software
I'm like, oh this is so maybe I'm just being dramatic Jarrod. You're being dramatic. Knock it off. I'm sorry. That's just my thoughts
That's just my opinions. They said let me know and you leave a comment down below. Let me know what you think
Do you like it? Do you not like it? Why and why not because I don't think there's there's not a wrong answer
For it. I've worked with a lot of people in the past. I've done some one-on-one coaching and they they really found it helpful
So I always tell people do what works best for you. Try both methods and
Go from there
It's it's better to stick with what's actually going to work as opposed to doing something. That's just it's not gonna work for you
You know, I can tell you Oh cash envelope system is the right way to do it
but if you're always doing it, and you're always failing and it's just
Constantly giving you a headache
I'm gonna say well don't do it and same vice-versa same thing with if you use a credit card or a debit card
Hit the thumbs up button. That's it. That's my 30-day challenge. I don't want to do this ever again
I know I'm being a big baby. But I'm sorry. What are you gonna do just got to deal with it? All right
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Release more videos. Thank you so much for watching. I greatly appreciate you. I'll see you in the next one friends a Dios