Comments on: Gift Cards: The Envelope System Of The 21st Century? http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/ Pay Off Debt...And Get Inspiration Daily! Wed, 10 Mar 2010 12:21:13 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: canadian_sadie http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2965 canadian_sadie Tue, 01 Dec 2009 00:21:04 +0000 http://www.enemyofdebt.com/?p=1613#comment-2965 I use the gift card system for my basic budget items. Each pay I load my budget amount onto my gas gift card, my grocery store gift cards, and my coffee card. That's the biggest money-saver for me as they only take cash or gift cards at the coffee shop--and not carrying cash saves me a lot of money! I use the gift card system for my basic budget items. Each pay I load my budget amount onto my gas gift card, my grocery store gift cards, and my coffee card. That’s the biggest money-saver for me as they only take cash or gift cards at the coffee shop–and not carrying cash saves me a lot of money!

]]> By: Tina Fortune http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2946 Tina Fortune Fri, 27 Nov 2009 23:56:31 +0000 http://www.enemyofdebt.com/?p=1613#comment-2946 I use the envelope system and my kids do too. I don't like gift cards unless they're from Visa or Amex. Even though we're entering into 2010 I am learning a little more about points on my credit cards too. I managed to earn a free flight this year using and paying one off. I know, credit cards are bad...I am learning the importance of credit because as a single mom with no family, when an emergency arises, the cash is not always available. Nice post. I use the envelope system and my kids do too. I don’t like gift cards unless they’re from Visa or Amex. Even though we’re entering into 2010 I am learning a little more about points on my credit cards too. I managed to earn a free flight this year using and paying one off. I know, credit cards are bad…I am learning the importance of credit because as a single mom with no family, when an emergency arises, the cash is not always available. Nice post.

]]> By: Kyle http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2905 Kyle Tue, 24 Nov 2009 05:04:24 +0000 http://www.enemyofdebt.com/?p=1613#comment-2905 I'll give the gift card idea points for creativity, but it seems very cumbersome in practice. I have enough cards in my wallet as it is without a whole mess of giftcards. Plus, I really hate it when I have something like $0.58 left on a giftcard. I'm liable to spend more just to finish the card off. I guess I could see the need for this system for some people, but it is not for me. I’ll give the gift card idea points for creativity, but it seems very cumbersome in practice. I have enough cards in my wallet as it is without a whole mess of giftcards. Plus, I really hate it when I have something like $0.58 left on a giftcard. I’m liable to spend more just to finish the card off.

I guess I could see the need for this system for some people, but it is not for me.

]]> By: Ashley http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2902 Ashley Mon, 23 Nov 2009 19:46:25 +0000 http://www.enemyofdebt.com/?p=1613#comment-2902 Cool and broke, jk! This system has worked wonders for me. It allows me to go to my favorite places but still make sure I'm not over spending at them. I do it the most with food and I'll get cards to 3 of 4 places I like to frequent for lunch and dinner. Once the cards are used up, I have to cook my own meals at home. Works like a charm. Cool and broke, jk! This system has worked wonders for me. It allows me to go to my favorite places but still make sure I’m not over spending at them. I do it the most with food and I’ll get cards to 3 of 4 places I like to frequent for lunch and dinner. Once the cards are used up, I have to cook my own meals at home. Works like a charm.

]]> By: Brad Chaffee http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2891 Brad Chaffee Mon, 23 Nov 2009 06:25:42 +0000 http://www.enemyofdebt.com/?p=1613#comment-2891 Thanks for stopping by David! You are so right. Whenever you do it, it works fantastically and when you don't you start the "death by a thousand cuts" way of spending again. It's amazing how such tiny amounts can add up to so much when you aren't paying attention. Thanks for stopping by David! You are so right. Whenever you do it, it works fantastically and when you don’t you start the “death by a thousand cuts” way of spending again. It’s amazing how such tiny amounts can add up to so much when you aren’t paying attention.

]]> By: Personal Finance Links- New Orleans Saints 10-0 Edition http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2890 Personal Finance Links- New Orleans Saints 10-0 Edition Mon, 23 Nov 2009 02:05:45 +0000 http://www.enemyofdebt.com/?p=1613#comment-2890 [...] Gift Cards: The Envelope System of the 21st Century? at Enemy of Debt [...] [...] Gift Cards: The Envelope System of the 21st Century? at Enemy of Debt [...]

]]> By: David Damron - LifeExcursion http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2889 David Damron - LifeExcursion Mon, 23 Nov 2009 01:01:23 +0000 http://www.enemyofdebt.com/?p=1613#comment-2889 I have done this method multiple times. Each time = SUCCESS. Each time I stopped doing it =FAILURE. In college and a few years out, I would do this. I had an envelope for food, for electricity, for gas and, most importantly, for BEER. I loved knowing I would have enough money for the long run while still enjoying the short term. I am jumping back on this bandwagon. I am trying to save for a move back to PHX. I have, fortunately purchased all of my X-Mas presents (except for Gram's) so I shouldn't have any major bills coming up. My major bills: Rent Health Insurance Internet Groceries Gas in gf's car ...other than nothing big. It is tough limiting myself to such when it comes to food. But changes need to be made if I want the lifestyle I want when arriving back in PHX. Great idea and post!!! David Damron LifeExcursion I have done this method multiple times. Each time = SUCCESS. Each time I stopped doing it =FAILURE.

In college and a few years out, I would do this. I had an envelope for food, for electricity, for gas and, most importantly, for BEER. I loved knowing I would have enough money for the long run while still enjoying the short term.

I am jumping back on this bandwagon. I am trying to save for a move back to PHX. I have, fortunately purchased all of my X-Mas presents (except for Gram’s) so I shouldn’t have any major bills coming up.

My major bills:
Rent
Health Insurance
Internet
Groceries
Gas in gf’s car
…other than nothing big.

It is tough limiting myself to such when it comes to food. But changes need to be made if I want the lifestyle I want when arriving back in PHX.

Great idea and post!!!

David Damron
LifeExcursion

]]> By: Brad Chaffee http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2887 Brad Chaffee Sun, 22 Nov 2009 08:51:21 +0000 http://www.enemyofdebt.com/?p=1613#comment-2887 I like the way you think Money Funk! :D Kelly, I think the gift cad idea is great and I cannot wait to give my report on using it. One of the problems I have found is that using the envelopes sometimes means turning around to go back home and get them. Can't tell you how many times we have turned around. Personally that is always something that bothered me because I HATE wasting time. With the gift cards, I will have them in my wallet, which is something I always carry with me. I will definitely check out your link Paul. I am always interested in checking out other methods. I am going to give this gift card thing a run and try it for 3 months. I am sure, just like with almost anything, it will have it's ups and downs but I am curious to see which one wins in the end. I know that's right Ken! I stand by the envelope system 100%! :D I like the way you think Money Funk! :D

Kelly, I think the gift cad idea is great and I cannot wait to give my report on using it. One of the problems I have found is that using the envelopes sometimes means turning around to go back home and get them. Can’t tell you how many times we have turned around. Personally that is always something that bothered me because I HATE wasting time. With the gift cards, I will have them in my wallet, which is something I always carry with me.

I will definitely check out your link Paul. I am always interested in checking out other methods. I am going to give this gift card thing a run and try it for 3 months. I am sure, just like with almost anything, it will have it’s ups and downs but I am curious to see which one wins in the end.

I know that’s right Ken! I stand by the envelope system 100%! :D

]]> By: Ken http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2886 Ken Sun, 22 Nov 2009 03:01:14 +0000 http://www.enemyofdebt.com/?p=1613#comment-2886 My wife and I use the envelope system for grocery and gas money. It works well for us. My wife and I use the envelope system for grocery and gas money. It works well for us.

]]> By: Paul @ FiscalGeek http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2883 Paul @ FiscalGeek Fri, 20 Nov 2009 22:28:22 +0000 http://www.enemyofdebt.com/?p=1613#comment-2883 Great minds, I developed a system using the Paypal student card and tried that for a bit, it was my <a href="http://www.wisebread.com/prepaid-gift-cards-for-modern-envelope-budgeting" rel="nofollow">first post on Wisebread</a>. It became too much of a hassle for my wife and I, and we've since reverted back to standard cash envelope budgeting. I'm also much likely to spend as much with the cold hard greenbacks but I do love the fact that you have built in categories if you go with a store specific gift card. Great minds, I developed a system using the Paypal student card and tried that for a bit, it was my first post on Wisebread. It became too much of a hassle for my wife and I, and we’ve since reverted back to standard cash envelope budgeting. I’m also much likely to spend as much with the cold hard greenbacks but I do love the fact that you have built in categories if you go with a store specific gift card.

]]> By: Kelly http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2881 Kelly Fri, 20 Nov 2009 20:46:47 +0000 http://www.enemyofdebt.com/?p=1613#comment-2881 Glad I inspired you to try something new. :) Just be sure to track them and keep them in your wallet otherwise you might become one of the millions of people who doesn't use their gift card. Glad I inspired you to try something new. :)
Just be sure to track them and keep them in your wallet otherwise you might become one of the millions of people who doesn’t use their gift card.

]]> By: Money Funk http://www.enemyofdebt.com/2009/11/gift-cards-the-envelope-system-of-the-21st-century/#comment-2880 Money Funk Fri, 20 Nov 2009 20:26:48 +0000 http://www.enemyofdebt.com/?p=1613#comment-2880 I like the "four commandments of enveloping"; simple and easy to follow. :) Great post. I often think about going back to using the envelope system. Mainly for grocery shopping, as this is one are we tend to overlap more than necessary. And I think it would be perfect for Christmas shopping. List in my hand - which gift & for whom & the envelopes - money runs out and I need more... than its time to bake a tin of russian tea cakes or sugar cookies. :) I like the “four commandments of enveloping”; simple and easy to follow. :)

Great post. I often think about going back to using the envelope system. Mainly for grocery shopping, as this is one are we tend to overlap more than necessary.

And I think it would be perfect for Christmas shopping. List in my hand – which gift & for whom & the envelopes – money runs out and I need more… than its time to bake a tin of russian tea cakes or sugar cookies. :)

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