I’m sure. you’ve met my Shisha – my cool, mouth-zipped, orange piggy bank. Now, you get to meet my friendly orange envelope which is the keeper of my monthly expenses in credit cards and household bills. She doesn’t have a name though. 😛
This envelope is relatively small and almost the size of a long letter envelope in length but it’s expandable and a little larger in height. It’s handy and requires little storage. The lock is just a string.
I labeled each area with the types of bills to manage them properly. This is where I put the receipts and money that I allotted for each bill. I also have a notebook where I always update my credit card purchases. I used to have 5 credit cards (which I trimmed down to two now – Visa and Mastercard) and these notes are helping me in managing my expenses. Writing down notes maybe be time consuming but it’s definitely beneficial in tracking your budget that involves using credit cards.
Above is some of the credit card receipts and money attached to it with my notebook in the background (please don’t use stapler, BSP don’t like it =P). So I won’t be over with my monthly budget, I normally buy things I was planned to buy but instead of paying with cash, I use credit card to get points and rebates (which will be another topic) and attached the cash then pile it in my orange envelope. This is what I always do unless I purchased some installment items and have some emergency needs. With installments, my notebook keeps me up to date for the next months due and tells me the best time to buy new installments again.
I know that this does not apply to everybody but I’m hoping that upon sharing this with you, I will be able to help you get started. I’d like to share with you things that works for me. I’ve developed this simple strategy when I started building my house to ensure that I won’t miss any bills which would freak me out in the coming months. Sometimes, I get a change from these payments which I now deposit to Shisha.