How can I do something like the "Envelope System"

[Rafferty Uy]

Very nice article. I also plan to write a blog on this very nice tool next
month. I just want to see how things will go after 1 month's income and
expenses first.
Anyhow, I think I have the scheduled transaction set up. I'll just wait and
see how things go :)

Thanks for everyone's help.


Rafferty D. Uy
Software Engineer @ ease solutions Pte. Ltd.
MBA Student @ National University of Singapore

"Business is a game, the greatest game in the world if you know how to play
it."
~ Thomas J Watson (Founder of IBM)


On Sat, Jan 3, 2009 at 12:03 AM, Dennis Muhlestein
<djmuhlestein at gmail.com>wrote:

> Rafferty Uy wrote:
>
>> Hi,
>>
>> Does anyone know how to do something like the envelope system? Here's the
>> idea:
>>
>> You have a payroll account, where every month a fixed amount is deposited
>> by
>> your employer.
>> You want to allocate this amount to different "envelopes", but all kept in
>> your bank account.
>>
>> So for example you have a bank account with a total deposit of $1000, you
>> know that this $1000 is composed of $200 in savings, $300 in bills, $400
>> for
>> daily necessities and $100 for unplanned things.
>> Is there a way to do this automatically for every pay day?
>>
>>
> I prefer referred to my budget article in another email I just sent.  I use
> the envelopes system w/ GnuCash.  It allows me to spend money with any
> account (I don't use the subaccount menthod) and from any budget. You just
> have to manually record which budget account you use. j
>
> There may indeed be a better way to do it, but it is working very well for
> me.
>
> http://allmybrain.com/2008/12/15/better-budgeting-with-gnucash/
>
> -Dennis
>