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06-18-2008, 03:09 PM #1
Question(s) About Easy Envelope Budgeting for Beginners
I just finished reading Liss`s "Easy Envelope Budgeting for Beginners". And I noticed that it`s for people that gets paid by the week. I was wondering how it works for people that`s on social security? Is there is anyone on social security and uses this method? If so, can you explain it to me?
08-27-2008, 08:14 AM #2
- Join Date
- Jun 2008
Once a month income should be even easier to divide into envelopes. You take the entire amount for each category out when the check comes. If gass is 200 dollars for the month then put 200 dollars in the gas envelope. If lights are 150 then put 150 in the electric envelope etc.
Weekly paychecks have to figure out what is 4.33% of each categry . What is 4.33% of the groceries, light bill, gasolene expenses etc. Then take that amount out of each check. If gass is 200 for month then the weekly allocation is 4.33% of that or $46.18