Financial Friday Tip
If you find yourselves overspending on your classrooms each month, you might want to try the cash envelope system. It's a very simple method, but takes some discipline. On payday, decide on a realistic budget for your classroom for the month. Take out that amount of cash you want for your classroom at the start of the month and use only that cash for your classroom supply purchases. Once the cash is gone, your classroom supply spending is done for the month. This method works as it holds you accountable and makes you plan on what you really need for the month. Also, when you make a purchase, it gets you thinking if the items really are needs or just wants.
I tend to overspend on groceries and so I have started to use this method for my grocery shopping and it is really helping me save money and stick to my budget. I always check to see what freezer food and pantry food I already have and then meal plan around that as well as what is on sale for the week.
I'm sure a majority of you already budget and use some kind of system to help you stay on track, but I just wanted to share this tip with you in case it might help.
Teachers, if you have any tips to share with us on how you avoid overspending on your classrooms, please comment below. Also, if you like the idea of doing Financial Friday tips, please like my post and I'll be happy to share other ideas if you'd like or ideas you have to share with us!