Last month I tried something different with our money. We have two checking accounts. They aren't his/her accounts but one is an account I had started for my freelancing money. Last month I tried using that account for paying bills. So when my husband got paid, the first thing I did was to move the bill money to that account. I also move the grocery money and household expense money. That way what is left in the checking account is gas money and lunch money for my husband. That way he knows how much money he has to make last until the next pay period.
What always happens to us is that we spend way more than we should when my husband first gets paid. We have money in the bank, so like dummies, we think we can afford to splurge. Then what happens is we don't have enough money to pay all of our bills. It's really been depressing since my husband makes enough money for the bills and for our other expenses.
It worked really well last month. It was definitely less stressful so I'll do it again this month.
We are huge fans of Dave Ramsey and have tried the envelope system before. We may go back to it for groceries, gas, and lunches. That would help us build up our checking account if we aren't constantly tapping it for expenses. That's the great thing about cash. It keeps you on a budget.
New System for Paying Bills
May 5th, 2009 at 10:49 pm
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