Hot take: tracking every single penny vs just setting a weekly cash limit

Last Tuesday I had a rough day where I overspent $40 on takeout delivery fees because I didn't check my app. But then Thursday I had a win just pulling out $60 cash for the whole weekend and stuck to it perfectly. I've been going back and forth between using Mint for every transaction versus just doing the envelope method with actual bills. Which side do you guys think works better long term? Has anyone else found one method beats the other after trying both?

3 comments

3 Comments

jake9861mo ago

@jasonf17 that story about driving back for the cash envelope is exactly why I changed my mind. Used to be all about apps but now I see the physical cash thing wins even with the occasional hassle.

parker1831mo ago

That line about the $40 takeout delivery fees hit close to home. I've done similar things where I tell myself I'll just "check my account later" and then wonder where the money went by Friday. I tried the envelope method for a few months and honestly it worked better than any app for me, mainly because I felt the physical pain of handing over cash. But I also had a week where I forgot my grocery envelope at home and ended up buying $30 worth of snacks with a card because I was too hungry to drive back. So maybe I'm not the best person to give advice on either method.

jasonf171mo ago

Fell ya there man, I once drove 20 mins back home just to grab my cash envelope because I knew if I swiped my card I'd blow through the whole week's budget in one trip. But then I got stuck in traffic and ended up ordering pizza anyways cause I was too frustrated to cook. The envelope method works great until life throws you a curveball and suddenly you're $50 in the hole with a headache.