Envelope wallet helps manage money

One of my goals for 2013 is to teach my daughter about money and the difference between needs versus wants. Specifically, I want my preschooler to understand that when I say “There’s no more money for ice cream,” I’m not actually saying: “There’s no more money!” That’s a really difficult concept for a 4-year-old to understand.

One tool that has been helping is an envelope wallet I purchased last January on Etsy from a company called Thrifty Zippers. It’s made out of oil-cloth and a little bit bulky, but I think this wallet is great.

The way the wallet works is that it has six separate zippered envelopes, as well as slots for my driver license and credit cards. I have envelopes for groceries, household products, gas, and other essentials. But the most important envelope (to my daughter) is the one for ice cream.

Every Friday, I put $5 in the ice cream budget. Now, when my daughter asks to go out for ice cream, we look in the envelope to see if there is “enough” money. But when the ice cream envelope is empty, my preschooler can still see that we have lots of money for other things like food and toilet paper.

A side benefit of this wallet is that I’ve ended up spending less money. I’ve also stopped eating so much ice cream! So really, this purchase has been a win-win.

More in Life

Did you know? Bats edition

Worthwhile Everett library reading and viewing about bats of the animal, sport and hero varieties.

The pros’ snow: Lake Tahoe a big draw for skiers of all stripes

North Lake Tahoe is home to one of the largest concentrations of ski resorts in North America.

How birds stay alive in winter and what you can do to help

When the weather turns chilly, columnist Sharon Wootton’s thoughts turn to birds coping with cold.

Sweden’s Glass Country sparkles like a hand-blown bauble

You can blame my Norwegian heritage, but I’m not so hot on… Continue reading

Don’t get scammed: Think before you click on email links

An email that was supposedly from iTunes is a scam that targeted busy parents.

Teen idol David Cassidy remains in Florida hospital

The former pop star is dealing with multiple organ failure.

Don’t forbid friendship with back-talking neighbor kid

Q: Our 8-year-old has suddenly developed a very sassy mouth. She picked… Continue reading

How to maintain your life’s balance amid change

Columnist Paul Schoenfeld shares some techniques for working toward a sense of stability.

Most Read