Skip to content
Extra Pin Money: Plan to splurge on luxury
  • Home
  • About
  • Contact
Extra Pin Money: Plan to splurge on luxury

Simple and DIY Digital Envelope Budgeting System

Last updated onJanuary 15, 2023

When each paycheck direct deposits into my accounts every other week, I spent a few minutes transferring the money between a few different accounts. I created a digital envelop budgeting system many years ago to help plan for monthly, semi-annually, and annually bills. When you have a mortgage, you want to make sure you have cash available to pay those bills when they come due.

Paper evelopes to discuss how to create digital cash envelopes to manage your money

How I setup my digital envelop budgeting system

First I listed out all of my bills for the year, including the ones due monthly such as the mortgage and utilities along with my car insurance (that’s twice a year) and my home owner’s insurance (once a year). I’m not a fan of other people paying my bills so when I was opened my mortgage I qualified to not have the bank escrow my property taxes and insurance.

Next I took each amount and divided either by 2 (for bills due monthly) or figured out the total for the year and divided by 26. This tells me how much I needed to set aside each each, into a separate account, to cover that bill when it comes due.

Pin
Share
Tweet
0 Shares
Cara

Welcome to Extra Pin Money, where I'm using vintage term in modern technology to make extra spending money on the side. Earning passive income through online sources and dividend investing allow you make extra money while you sleep. Instead of running out of time to make additional money, double dip by making money while you sleep.

Let’s connect on social

  • Instagram
  • Pinterest
  • Twitter

Recently Posted

  • 5 easy tips to earn more Rakuten cash back
  • How to make $2000 a month in dividends
  • Simple and DIY Digital Envelope Budgeting System
  • What is Pin Money
  • About
  • Contact
  • Privacy Policy
  • Disclosure

© 2023 Extra Pin Money