Budget Update – Envelope System to Keep Track

Published On May 3, 2016 | By Morten Storgaard | Budgeting

As you guys know we are expecting a baby, and that means we haven’t been very good at sticking to our budget lately.

So we have decided to take a month or two with the old system – the envelope system!

Let us introduce: The Envelope System

Debt-free and then what?

We got debt free in November, and we worked towards this goal like forever, so finally reaching that goal was surreal.

We had a list of things we needed to buy, and we also need to start getting stuff for our summer baby.

It also meant that we needed to set a new financial goal, and we have decided to save up for a down payment for a house.

We have already saved up and bought a car, and it’s just an awesome feeling to be able to buy things in cash. We got a 2004 Skoda Octavia, and it runs like a dream.

We didn’t go for a small car, because we needed one that can pull the camper around Europe!

car

Here you can see it right next to Maria’s “Blue Heaven” – oh yeah! the camper is getting finished soon.

We got some help, and we will also post a new video soon with an update on it, follow the camper playlist here on Youtube, if you’re interested.

We already took it to Amsterdam (The Netherlands) last month, to film 7 tiny spaces, which will be up on our Youtube channel during the next couple of months.

Well, we overspend for a while

It’s kinda embarrassing to admit that we did overspend a bit.

Mainly on food (take-out).

Maria is pregnant, and I just didn’t have the time to cook, as I had to do most of the laundry and cleaning besides taking care of my customers.

We hope this can inspire you to take charge of your financial situation, and get a good grip on the spendings!



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