Apr 28, 2019
How To Use The Envelope System To Pay Off Debt With Kristin Stones From Cents and Purpose
If you need budgeting help you need to listen to this podcast with Kristin Stone from Cents and Purpose. Today we will be talking about Budgeting, getting out of debt and side hustles.
Kristin and her husband were yo-yo debtors who were constantly using credit cards to bridge the gap until payday. They would find themselves in debt and then dig themselves out short term only to end up back in debt again.
After 10 years of this cycle, they realized that if they wanted their marriage to survive they needed to do something different. They were super motived and able to pay off $55,000 worth of debt in 22 months - impressive huh!
Paying off their debt completely changed their life and their marriage.
Kristin attributes the vast majority of their success to budgeting and finding ways to earn extra money. They drastically reduced their spending, used the envelope system and earned extra money through side hustling.
If you are struggling to get your spending under control I highly recommend listening to this interview with Kristin Stones from Cents and Purpose.
Resources Mentioned:
- Begin to Budget 5 Day Email Course – This is Kristin's free email course and is a great way to get started with budgeting
Envelope
system – Using the Envelope
system is a great way to control your spending.
With the envelop system you put cash into separate envelops to pay
for items like groceries, clothing, entertainment and gifts.
Check out this post from Kristin's Instagram for a fun tip on how
to make the envelop system work for you. - Check out this YouTube Video From Kristin as well on How to Budget using Dave Ramsey’s Cash Envelope System on a Debt Free Journey.
- If you are struggling to budget effectively because you always miss potential expenses, check out this list of budget categories to make creating your budget easier.
- Kristin also has created some amazing budgeting worksheet that are designed for literally anyone to use and actually be successful. If you struggle to budget, check out these budgeting worksheets and see if they will work for you. Link to her budget bundle.
- If you are looking for ways to start earning extra income and need some ideas to get started check out this post on 48+ ideas to earn extra income. If you want to start a side hustle and need more detail on getting started my new book 6 Steps To Starting your First Side Hustle is a great place to get started.
Call To Action:
Start Budgeting today!!! If you want to change your financial future, the first step is to begin budgeting.