When it comes to saving money, cash budgeting using a cash envelope wallet is a great way to get started. You can use these wallets to control your budget by limiting how much money you have in each category. This can help you stay on track and avoid overspending.
There are several different cash envelope wallets available on the market. Here are some of the best ones to consider if you want to start using this type of wallet yourself.
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What Is a Cash Envelope Wallet
A cash envelope wallet is a type of wallet that helps you control your budget by separating your money into different categories. With the cash budgeting wallet, you can put a set amount of money into each envelope, limiting how much you can spend in each area. This makes it easy to stick to a budget and avoid overspending.
How Does the Cash Envelope Wallet System Work
A cash envelope wallet requires you to pre-fill envelopes according to your budget. For example, if you spend $300 per month in gas, that’s one wallet. If you spend $400 per month on groceries, that’s another. While this is great for smaller parts of your budget, large expenditures such as rent or mortgage are typically paid the way you go about it.
Here are the steps for setting up your own cash system wallet:
- First, figure out what categories you want to include in your budget. This could include things like food, entertainment, and transportation.
- Decide how much money you want to allocate to each category. This will depend on your income and expenses.
- Get a cash envelope wallet to hold your envelopes.
- Label each of the money envelopes with the name of one of your budget categories.
- Put the appropriate amount of money into each envelope.
- Start using your cash envelope wallet to control your spending!
Pros and Cons of Using a Cash Envelope Wallet
- Easy to use
- Helps you stay on track with your spending
- Can be used for a variety of budgets
- May be difficult to stay disciplined
- You may need to carry around a lot of cash
- You may not have access to all of the cash needed to allocate in envelopes
What to Look For When Buying a Cash Envelope Wallet
Not all wallets are created equal. You may be interested in additional features when searching for a wallet to protect that much cash.
When using the cash envelope wallet system, you will be responsible for holding onto a lot of cash. Therefore, a quality wallet should have multiple compartments for organization and be large enough to hold each envelope without crushing, bending, or tearing the envelopes.
In addition to compartments, you may also want to consider a wallet with RFID blocking technology since you may choose to carry your credit cards or other sensitive items in your cash wallet.
RFID stands for Radio Frequency Identification. This will help protect your identity and credit cards against thieves who may try to scan them with an RFID reader.
While not required, some accessories can make using a cash envelope wallet easier. A cash envelope system sticker set is one example. These can be used to label your envelopes.
Another helpful accessory is a Cash Envelope Tote. This large bag helps you carry your envelopes and other budgeting materials with you.
While cash envelope wallets are meant to be used as a functional tool and not a fashion statement, who says you can’t find one that fits your style? Shop around and find one that is the size, shape, and design that you’re looking for.
13 Best Cash Envelope Wallet Options
Take a look at some of the best cash envelope wallets on the market.
1. Bella Taylor Cash Envelope Wallet
The Bella Taylor wallet is a great choice for those looking for an attractive and functional option. This wallet comes with eight envelope slots, each with inserts for labeling categories.
Additional features include six card slots, two window ID slots, a checkbook pocket, a pen loop, three color options, and an extra pocket. In addition, this wallet option comes with a twist lock and RFID protection.
2. Dave Ramsey Wallet
When you think of finances, Dave Ramsey almost always comes to mind. His cash Envelope Wallet is a popular and functional choice for those looking to take control of their budget. This wallet comes with eight cash envelopes with the option of ordering more. Also included are slots for cards and change and a notepad and receipt holder for tracking your spending. The Dave Ramsey cash envelope wallets start as low as $14.35 and can also be found bundled with his book, “Total Money Makeover: A proven Plan for Financial Fitness.”
3. Bveyzi RFID Blocking Wallet
While not a traditional Cash Envelope Wallet, this Bveyzi clutch style wallet is oversized and serves as the best of both worlds. It is one of the best cash envelope wallets on this list. This huge travel wallet has 17 credit and debit card slots and two full-length slots for storing your cash envelope wallets (40 bills to be exact). It could even hold your phone or checkbook and comes with a wrist strap for easy carrying.
The Bveyzi oversized wallet is RFID blocking and is handmade with genuine leather.
4. Expanded Horizons Cash Envelope Wallet
If you’re looking for a practical wallet option, look no further than the Expanded Horizons option. This wallet has ten compartments for arranging your cash envelopes and 20 labels for the envelopes.
It can hold your checkbook, two forms of ID and has four slots for credit cards with RFID blocking technology.
5. Esprite Plastic Binder Envelopes and Notebook
Another non-traditional budget wallet, the Esprite Binder, is a unique take on the cash envelope system. This inexpensive option comes with 12 envelopes made of clear plastic, a notebook, two spots for cards, and a pen holder. While it’s not like other wallets, it’s no-fuss and tons of functionality.
Working on budgeting? Here’s some of our best resources:
6. Soligt All-In-One Cash Envelope Wallet
For less than $20, the Soligt Wallet can hold up to 12 envelopes and budget cards, slots for cards and change, and a binder-like organizer.
7. Hommie Cash Envelope System Wallet
The Hommie cash envelope system wallet is waterproof and contains 12 colored envelopes made from durable material and labels. While more of a pouch than a wallet, the Hommie system doesn’t have designated slots for ID or credit cards. If you commit to the cash envelope strategy, this is a great option for you!
8. Mundi Cash Envelope RFID Blocking Wallet
The Mundi cash envelope wallet has a little bit of everything from RFID protection, cash envelope pockets, an interior filing system, slots for cards and ID, multiple design options, and two zippered pockets.
9. Slim Budget Envelope Wallet System
The Slim budget envelope wallet is an excellent choice for those committed to the envelope budgeting strategy! Another wallet with all the bells and whistles, it has six envelope slots and envelopes, labels, RFID protection, slots for credit and debit cards and ID, a pen holder, and a budget sheet for each label.
10. Magicfly Cash Envelope Wallet System
The Magicfly cash envelope wallet comes with 12 budget envelopes, 12 budget sheets, and a budget binder notebook. The envelopes are waterproof and are the perfect size to fit everything from bills and receipts to checks, stamps, and coupons. This envelope option is highly rated, receiving 4.5 out of 5 stars on Amazon.
11. Sachielle Cash Envelope Wallet
We may have saved the best for last with this one. The Sachielle cash envelope wallet, priced just over $20 and rated 4.6 out of 5 stars, comes with 15 envelopes in different floral designs. These envelopes aren’t your run-of-the-mill paper envelopes. Instead, these plastic envelopes are stylish and come with a snap, so there is no risk of losing any of your hard-earned cash on accident. It also comes with 30 labels, 15 double-sided budget sheets, a zippered coin pouch, and six credit card slots.
12. Mou Meraki Genuine Leather Wallet Bifold
The Mou Meraki Wallet is another affordable cash wallet, stylish option. Made of leather, available in multiple colors and styles, and comes equipped with RFID blocking technology. There is tons of space for your envelopes, cards, change, and phone. The Mou Meraki also boasts an impressive 4.6 stars out of a possible 5.
13. Rnairni All-In-One Cash Envelopes Handbag
The Rnairni Cash envelope wallet is all about productivity. It comes equipped with a budget journal, 14-month calendar, 54-week planning page, notebook, 12 envelopes, storage bag, binder dividers, and pen. So if you want a wallet to meet your efficiency needs, the Rnairni is the perfect wallet for you.
How to Make Your Own Cash Envelope Wallets
Making your own cash envelope wallet is easy if you’re looking for a more personal touch or want to save a few bucks! All you need is a few supplies and some creative flair. Here are some tips to get you started:
- Gather your supplies. You’ll need envelopes (we recommend using Tyvek or craft envelopes), a pen or marker, scissors, and tape.
- Decide on your budget categories. You’ll want to create envelopes for grocery shopping, entertainment, gas, etc.
- Label your envelopes. Be sure to clearly label each envelope with the category it represents.
- Cut your envelopes. Use scissors to cut along the bottom and sides of each envelope, being careful not to cut the flap.
- Tape your envelopes. Use tape to secure the envelope flaps, ensuring they’re sealed shut.
- Put it all together. Organize your envelopes in your wallet, and you’re ready to start budgeting!
- You can put your envelopes in a pocket organizer, folder, ring binder, etc., to keep them organized and in one place.
Cash Envelope Wallets FAQ
How Do You Carry Cash In an Envelope?
Label each envelope, whether it be on tags, stickers, or the envelope itself. Then add the amount of cash according to the category. A designated wallet is a great way to keep these organized and extra secure.
What Cash Envelope Categories Should I Have?
The answer to this question varies from person to person. First, choose categories each month that you spend money on. This can include groceries, gas, eating out, etc.
Does the Cash Envelope System Work?
The cash envelope system is a great way to stick to a budget. It can be customized to work for anyone, and it’s a great way to stay on track with your finances. First, pick a few monthly expenses to start if you need some flexibility. Then, once you get the hang of it, start adding more.
How Will a Cash Envelope System Wallet Help Me Budget My Money?
The cash system helps people see their expenses and forces them to stick to the budget. If the money runs out, they have to wait until next month/week/pay period, or however long you decide to go between refilling the envelopes.
What if I Run Out of Money in My Cash Envelope?
If you run out of money in your cash envelope for a particular category, you’ll either need to adjust your budget or wait until the next refill. This system is excellent for people who want to be held accountable for their spending. It can be difficult initially, but it’s definitely worth it in the long run.
What Should I Spend Leftover Cash On?
The answer is up to you to you! Want to put more back into savings? Go ahead! Want to reward yourself for being good? Buy yourself something nice. The choice is yours.
What if I Pay Some of My Expenses Online?
Suppose you pay some of your expenses online, like your cellphone bill or utility bills. In that case, you can either include that in your envelope budget or have a separate category for online spending. This will help you stay accountable and on track with your budget.
When Should I Spend Money on a Cash Wallet System?
Cash envelope systems can be beneficial when trying to stick to a budget. If you’re someone who struggles to stick to a budget, this system may be for you. It can help you become more aware of your spending and make better financial decisions.
If you’re not sure if a cash envelope system is right for you, there are many other budgeting options. A cash envelop system usually cost around $10-30, so it’s not a huge investment. But only you can decide if this system is right for you!
Why Is It Called the Dave Ramsey Cash Envelope System?
This is a great question! Of course, cash wallets and cash envelope systems have been around for a long time, but Dave Ramsey is one of the most well-known advocates of this type of budgeting. He’s written books and articles on the topic and even has his own show on personal finance.
Cash envelope systems are a great way to manage your money, and Ramsey is a great resource if you’re looking to learn more about this type of budgeting.
Final Thoughts on the Cash Envelope System
The cash envelope budgeting system is a great way to manage your money and stick to a budget. It can be helpful to have a designated wallet for your cash envelopes, and you can even add more categories as you get the hang of it. This system is great for people who want to be more mindful of their spending and make better financial decisions. Does this sound like you? Evaluate your expenses and budget, pick out a cash envelope wallet, and start to save money today!
Samantha Hawrylack is a personal finance expert and full-time entrepreneur with a passion for writing and SEO. She holds a Bachelor’s in Finance and Master’s in Business Administration and previously worked for Vanguard, where she held Series 7 and 63 licenses. Her work has been featured in publications like Grow, MSN, CNBC, Ladders, Rocket Mortgage, Quicken Loans, Clever Girl Finance, Credit Donkey, Crediful, Investing Answers, Well Kept Wallet, AllCards, Mama and Money, and Concreit, among others. She writes in personal finance, real estate, credit, entrepreneurship, credit card, student loan, mortgage, personal loan, insurance, debt management, business, productivity, and career niches.