Getting out of debt

[PoindexterOglethorpe]

9. There's excellent advice in this thread.

I will emphasize that paying cash for all your day to day expenses is crucial. At the beginning of every week take out the cash you need for that week. I divide that money up in envelopes: clothing, gas, health & well being (toiletries and the like), entertainment, miscellaneous, and Christmas Club. The rest is what I spend on groceries and just walking around money. When I need or want new clothes, I see how much is in that envelope. If I want to buy perfume, there needs to be enough in the health & well being envelope.

And so on.

It's incredibly effective. If there's nothing in the entertainment folder, I guess I'm not going out with friends. Although that's also what miscellaneous is for, when you don't have enough in one envelope, you can take from miscellaneous.

Obviously the precise amounts, or even the specific envelopes, will vary from person to person, but I've done this for years.

If you have furry roommates. you'll need an envelope for their food and grooming products.