Saturday, January 11, 2014

January 10 - Online Discussion Question 1

Thinking about the envelope system, how many envelopes would you use? What would the names on the envelopes?

Do you think this is a good way of saving money? Why or why not? (make sure to answer all 4 questions here)

12 comments:

  1. I would use 4 right now. One for food, clothes, gas, and school books. Yes I think it's a good way to save money because once it's gone from the envelope you don't spend any more on it. And if there's some left, you have some to play with.

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  2. I would probably use 4. One for food, school, clothes, and one for anything extra. I do think it's a good way of saving money because then you have an organized plan for you money. Also, my parents have been doing the envelope system since I was little.

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  3. I use six envelopes marked as Save, Spend, Gifts, Clothes and Tithes, and one for anything emergency-like.
    I think this is a brilliant way of saving money. It gives you money to spend whenever you want, but it also gives you a way to save money. You'll never ask yourself if you have enough to spend for a certain thing.

    Autumn

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  4. i would have 5 one for cloths, gas, car repairs, blow, and food. and i think it can be a good way to save money as long as you dont spend every penny each month

    travis

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  5. I currently use around 5, one for tithe, one for money in my savings account, one for spending, one for my cell phone bill, and one for emergencies. It's a good way to save your money, that way you have cash for yourself when you want it, and you also have cash when you need it.

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  6. Currently I think I would use 3 envelopes. One, for tithe/giving. One for saving. (It helps me to see what I am keeping). The last one for spending. I spend almost no money, so this envelope wouldn't get used very often, but it would help for me to see what my money is supposed to do.

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  7. I would be pushing it if I had three envelopes. One for drinks, food on the go, and emergency/spur of the moment. This is a good way because you can see how much money you have left and see how much you can spend at once.
    Adam

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  8. I would probably have four envelopes. One for tithe, one for things I need like school supplies or gifts for people, one for shopping, coffee, etc. and one for emergencies or if an extra expense comes up during the month that I wasn't expecting. I do think the envelope system is a good way to save money because, like Dave said, it hurts more when you spend cash. You will be less likely to spend frivolously if you're using cash and if you have that cash separated and dedicated to specific purchases.

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  9. I would probably use 4 envelopes for food, clothes, coffee, and tithe. I think it would help me not spend so much money on things that I don't need.

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  10. Spending
    Saving
    Phone bill
    Insurance
    It think it would help me stick to a budget better, I can see how much money I have and space it out over the month.

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  11. Right now probably only 4 for saving, spending, emergencies, and tithes. It would help dived up my money so I don't spend it all in one place and wonder where it went at the end of the month.

    eyezik

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  12. I would probably use 4 right now… one for saving, one for spending, one for giving, and one for tithes. Yes I think this is a very good way of saving money. Because you can actually see how much money you can deal with or how much or little freedom you actually have.

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