Thecash envelope systemis a great way to keep yourself from going over budget.
Your spending is restricted to the amount of money you fill in envelopes to represent different budget categories.
The pandemic, however, has made it less convenient to stick to this budgeting method.
Here are four ways to transition to a cashless version.
Use Gift Cards
Instead of stuffing your spending envelopes with cash, use gift cards.
At the beginning of the month, purchase gift cards that correspond with your various spending categories.
You may have to adjust your spending limits to match up with the gift card denominations.
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The free version of Goodbudget gives you 10 envelopes to manage your spending.
After you make the transaction, quickly do the math to revamp your remaining balance.
Nicole Dow is a senior writer at The Penny Hoarder.
It sounds appealing right?
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