If you haven’t even thought of controlling your spending through an envelope system, it’s not too late to start. Just because you are on a budget doesn’t mean you can’t buy anything for yourself. When I originally wrote about it in My Guide to Being on ABudget I made sure to explain that one of my expenses I allow myself each month is clothing.
Using a clothing envelope has many benefits:
It forces you to plan your spending.
If you only get $100 for each season, you will pretty much map out where you wanna go and what you need to buy that your wardrobe lacks. Think about it….have you ever bought multiples of the same type of shirt or jeans? If you only have a certain amount available to spend, you are much more likely to skip over that nice black tshirt, considering you already have 3 at home. You would much rather spend your money on something you don’t have.
You will make smarter spending decisions. Instead of buying those $80 shoes, you’ll notice that you start looking for the best deal on a particular style of shoes. This means less impulse buys.
You will use coupons.
Next time you see a coupon for 20% off an item from your favorite department store, you are more likely to take advantage of it and really think before you decide what item to spend it on.