masking tape
All three of my credit cards are in my wallet now. Each of them has a small square of masking tape in the top left-hand corner that sticks out when they’re in my wallet. One piece of tape says "allowance," another says "gas," and the other says, "groceries." If you flip through my wallet to the compartment where I keep my cash, there’s a small scrap of paper. It reads, "as of 8/12, until 8/30… TM-$60.00… groc-61.02… gas-0… me-30.41." This shorthand means that between now and the 30th of this month, I plan to have to spend a little less than $60 on my next cell phone bill, about $61.02 is left in my budget for groceries, I’ve already exhausted my budget for the month on gas due to my trip back home last weekend (I actually went over by about $9, which I took out of my allowance), and that leaves $30.41 in my allowance for me to spend however I want between now and the 30th.
I won’t be using my "gas" card again until after the 30th. If I spend any more on stuff I want but haven’t budgeted, I’ll use the "allowance" card within my limit and pay it back by the 30th. When I spend more on food, I’ll put it on my "groceries" card, which I’ll pay by the 31st. If I go under budget on any of these things, then another part of my budget can pick up what’s left over. For example, If I only spend $30 on food between now and the 30th, then I’m allowed to spend the other $30 on my "allowance" card. As I understand it, the envelope system some other people use is kind of like this. I just use a scrap of paper instead of envelopes. Because I use my checkbook register for everything, even my credit card spending, I know when one budget category can borrow from another. If I’m underbudget on the 30th, the extra floats to next month.
It’s not quite Qui*ken, but it works and it didn’t cost me any money.
I feel smart today.
