Envelope Budgeting System
I keep hearing a lot about the "old fashioned envelope budgeting system" Can someone please give me information on this system in detail on how it works?
I understand that you place money in envelopes. How many catagories do you split the money into? And how do you determine the amount to give each catagory the first time?
Does anyone use this system and would you recommend it ot not?
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