CASH ENVELOPE + SINKING FUNDS STUFFING| LOW INCOME | MAY 2021 PAYCHECK #1| TAYLORBUDGETS

hey welcome or welcome back to my channel my name is taylor and i'm so happy that you're here so i just first want to say that i'm filming this on mother's day lauren's napping so i thought it would be the perfect time to film this video so i just want to say happy mother's day to all the mamas the step mamas the grandmamas and the great-grandmamas and all the mama figures out there shout out to y'all so that's my shout out for this video i'm just shouting out all the mamas all the mama budgeters all the cash stuffing mamas just thank god for all the mamas all right so let's go ahead and jump on into this video but right before i do i just want to say hey if you're new please consider subscribing i love to have you join the fam we're lit over here and it's free so yeah all right so let's jump in into this cash envelope stuffing so like every cash envelope stuffing video i always start with my wallet so i'm just gonna see how much money i have left over from the last two weeks and also take out my coins so let's start with groceries for groceries i have 10 15 20 21 2 3 4 5 6 7 and 28 left over so the tens and fives are going to go to an extra debt payment and my ones are going to go into my one dollar savings jar [Music] so for household for the first time ever there's nothing left over for eating out let's see two dollars left i think that's better than going into our cushion two dollars left from eating out lauren bear she has one two three four and five dollars left over so that will go into my one dollar savings jar miscellaneous has one two and three dollars left over which is pretty good beauty still has its fifty dollars that's going to stay in there until i get my hair done on may 20th for my locs and then lastly it's my cash envelope one two three and four dollars left over so we have a good amount of leftover i'm just happy that i have some money left over from eating out like y'all know it's been a struggle it's been a struggle and it's just amazing that i've been craving anything and everything for like the past week or so and i still have money left over for eating out that is extraordinary okay you know what i'm saying all right so that's all for the leftover money there's nothing in the back to bank right now and for my receipts i just have two receipts i need to scan all of the other receipts i threw away because it was just this envelope was packed full of receipts so that's all for that so next we're going to do two out of the four savings challenges i have my one dollar savings challenge and my coins challenge so let's go ahead and see how many coins i have from the last two weeks which is a lot i think this is the most i've ever had like there's a lot of silvers in here i love my silver's okay let's see if i can open this [Music] i think i still have some more left over in here let me know if you guys are doing the save your coins challenge i plan on counting this at the end of the year and then the money that was saved is going to go towards my home savings so that is also save your points challenge i have a good amount in here i've been doing this challenge since january so this is pretty good [Music] and next is my one dollar savings challenge and i'm gonna count all of the ones left over for my cash envelopes one two three four five six seven eight nine ten 1 2 3 4 5 6 7 8 9 20 21 and 22 so that is pretty good i think that's the most ones i've had i am so excited for this challenge again i'll be counting this at the end of the year and this is also going to go into my home savings so i am just so excited for the end of the year just so i can count these two challenges all right so that's it for that now the leftover tenth and fives are going to go towards an extra debt payment for my care credit card that's 20 so i'm going to put this in the back to bank envelope next time i go to the bank i'll deposit it and make an extra payment empty girl is trying to pay off this care credit card if you've been watching me for a while you know i'm on the struggle bus with paying off that card with that amount of interest that's just unexplainable to be honest but it's okay we're gonna pay it off so now that i've unstuffed everything in my wallet we're not going to count how much money i'm stuffing for this paycheck so i have a 50. 20 40 60 80. 10 20 30 40 50 60 70 80 90 100 and 110. 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100 [Music] and for the ones 1 2 3 4 5 6 7 8 nine ten one two three four five six seven eight nine twenty one two three four five six seven eight nine thirty all right so we're stuffing a total of 370 dollars so first let's stuff our cash envelopes for groceries it'll be eighty dollars for this two weeks so that's going to be two twenties [Music] one ten five fives and five ones 20 40 50 55 60 65 70 75 76 7 8 9 80. i went from stuffing one hundred dollars in groceries to ninety dollars in groceries to now eighty dollars in groceries and that's what i love about budgeting once you start really spending the money you start realizing how much you actually need and then you adjust your budget accordingly so that's for groceries next is household household is getting 15 that's a 10 and a 5. don't think i need anything for like the house i do need it's like some more detergent scent beads i love those things so that's 15 so next is eating out eating out is getting 15 that's gonna be three fives and the fact that i only spent what 13 last paycheck i really think i can stick to that i've really been just staying home and eating what's at home and i think one of the reasons is just because i don't want to go out anywhere so that really helps that's fifteen dollars for eating out lauren is getting fifteen dollars that's going to be three fives five ten and fifteen lauren needs some more wipes now and some more diapers so that will cover that miscellaneous is getting five dollars so that's going to be five one dollar bills one two three four and five next is beauty and beauty is just getting a fifty dollar bill and now there's one hundred dollars in there and that will complete the amount i need for my hair appointment and lastly for my envelope i'm giving myself 15 that is three fives 5 10 and 15. all right so that concludes my cash envelopes now we're going to move over to sinking funds so first for sinking funds is my high priority binder everything that i use in my videos i always forget to mention this but everything that i use in my videos is linked down below in my description box just in case you want to purchase anything so for my high priority binder let's see we're skipping car maintenance challenges we'll come back to expenses we'll come back to investments nothing medical is getting 25 dollars so that will be a 20 and a 5. and let's see how much i have for medical i do need to stuff this envelope more than i would within the next month or so and that is because i need to pay to get a cavity filled i'm always having dental issues i don't know what's wrong with me okay i floss i brush i don't get it but anyway we now have 50 70 90 110 130 150 160 70 75 and 176 so to get my cavity filled i need 247 oh hell no so we now have 176 in there our home is getting 13 so that's going to be a 10 and three ones i feel like no matter what no matter how much money i have to stuff i'm always going to stuff our home because that's just my number one goal is to purchase a home for my daughter and i so that's 10 11 12 13. so let's see how much i have in this bad boy i really need to deposit this into my hired savings account already like i could be giving you some interest so i have one two three four four hundred four fifty four seventy four ninety five hundred five ten twenty thirty five thirty five five thirty six 7 and 538 dollars for our home so that's pretty good next retirements not getting stuff student loans and that uh support small is a new envelope and of course that means to support small businesses hash tag so support small is getting ten dollars that's two fives when i tell y'all i have a list on my phone of all the small businesses i want to support all of my budgeting ladies i want to support all of y'all i have your name on my list probably i just need to get my money up i can't be using my cushion because that kind of defeats the whole purpose of budgeting wisely so don't worry i will be purchasing from y'all it's just going to take me a little bit of time so that's support small next is taylor budgets that's a new envelope as well and that's just getting a ten dollar bill so this envelope is going to be for giveaways um anything that i want to purchase in regards to like budgeting if it's not from a small business like if i need to purchase some more of these envelopes or if i just want to purchase i don't know don't get it it's just for my channel or for my budgeting journey so that's ten dollars and i am thinking of a business that i want to start so while i'm thinking about that i also want to fund that as well and i also need to purchase a business license so that is what taylor budgets encompasses so that's it for my high priority binder next is my low priority binder and we're not stuffing amazon this is new as well so amazon is going to be for my yearly amazon subscription which isn't due until january it's about 65 and also any small amazon purchases i want to make that i usually purchase from my cushion so beauty is getting 30 dollars it's a little bit higher than usual and the reason for that is because i have a hair appointment coming up on may 20th and i'm doing something special for my birthday it's like my birthday here and it's probably going to cost me a little bit more than 100 i usually put towards it so i am just making sure i have extra money in beauty so that's 30 here so for beauty 20 30 40 50 and 60. i may not need it but if i don't it's in here so for birthdays it's getting twenty three dollars so that's two tens and three ones and i'm only stuffing for my birthday and lauren's birthday all the other birthdays are good to go so that's 10 20 1 2 and 3 so this will be the last time i'm stuffing for my birthday so that's going to give my birthday fund a total of 260 and the rest goes towards lauren's birthday my best friend's birthday and then my best friend's daughter's birthday so we have one two two fifty three three fifty three seventy three eighty 380 94 410 420 425 430 431 234 and 435 if i'm not mistaken so remember 260 of that is for my birthday on may 22nd hashtag gemini up in the booth [Music] i'm so excited for my birthday so for christmas christmas is getting 10. it usually gets 29 but i had to cut back on some sinking funds because i am trying to pay off that care credit card so that is why and my goal for christmas is 600. so let's see where i am one two two twenty two forty two fifty two sixty two sixty one two three four two sixty five so we're almost halfway there what is your budget for christmas let me know down below in the comments clothes is new but it's not getting anything father's day is getting four dollars so that's four ones one two three and four okay twenty twenty one 3 4 5 6 7 and 28 dollars for father's day my goal for father's day is 40 so we are over halfway household is not getting anything lauren's not getting anything this thinking fun for lauren is just for if she needs anything extra like diapers wipes clothes if i want to buy her a toy or anything her personal savings or college fund is in my capital one savings account miscellaneous is news not getting stuffed mother's day like i mentioned i'm filming this on mother's day so all of the gifts have now been purchased so left over from the 35 dollars i had one two and three so that's three dollars left over i purchased my stepmom and grandma some flowers and then my mom i purchased her gift like two weeks ago so what i'm gonna do with that leftover mother's day money is i'm gonna put it towards father's day so now father's day is getting an extra three dollars [Music] which means it has 20 1 2 3 4 5 6 7 8 9 20 30 and 31 so that's 31 father's day now has which means i'm just a couple dollars closer to the 40 goal so that's for mother's day that's going to be taken out other holidays is not getting stuff but this is specifically for fourth of july my envelope is not getting stuffed vacation is the last one and vacation is getting nothing i thought i was stuffing vacation but i'm not okay so that's it for my low priority binder next we're gonna stuff my two challenges well the remaining two challenges so the first one let me bring back out my binder is my no it's not in this one it's my 52 week challenge this 52 week challenge is in my high priority binder because at the end of the year this is gonna go towards my home savings so for the 52 week challenge i'm stuffing weeks 17 and 18 so that is 35 dollars so that's getting a 10 of 5 nope i'm sorry it's not getting a 10 it's getting a 20 and a 10. and a 5. 20 30 and five so let's see where i am with this challenge are you guys doing the 52 week challenge i think it's a pretty good challenge it caters to a low income so that's why i started doing it so i now have 50 70 90 110 130 140 50 60 65 70 and 171 and that's weeks 17 and 18 i believe so that's it for the 52 week challenge the next one is the may flowers challenge from baddies and budgets so let me go ahead and bring that out so for the mayflowers challenge like i mentioned this is from baddies and budgets you can get this free printable offer for a website i'll make sure i leave it down below in my description box but the way this challenge works is you choose a number between zero and nine i chose nine so if the weather on any given day has nine as the temperature you have to add five dollars to this challenge so i've already completed week one so i'll just put the number that i am stuffing right here in week one there's week two three four and five for the five weeks in may so i live in florida which means me choosing nine was like girl are you trying to stuff five dollars every single day because this hot is it's hot as hell okay in florida it's hot right now i've been in florida all my life so i'm used to it but those who come to florida for vacation they're like darn near ready to pass out from the humidity like it's hot so i chose nine because i'm a little crazy but what i decided to do with this challenge you can see up top here this challenge is going to emergency fund lauren savings and my three to six month expenses because i figured i cannot do this challenge as well as stuff those three individual savings it's just not in my budget the way my budget is set up i can't do all that so what i decided to do was put 25 percent towards the emergency fund 25 towards lawrence savings and percent towards my three to six month expenses so once i complete this challenge i'll just divide all of that up into these three savings accounts so as you can see i completed the first week and some everything in green is the one i got right so that means that these days there was a 90 in either the high or low temperatures so that's 5 10 and 15 i'm stuffing for week one and i believe that's the remaining 15 i have here that's 5 6 7 8 9 10 11 12 13 14 and 15. great so i'm gonna put this in my envelope i love this envelope it is so cute so i'm just gonna stuff that in there and let me get my pen so i can write 15 dwells 15 so that's week one i'm so excited for this challenge it's pretty cool and it helps me to remember what day it is because being a stay-at-home mom i'm like this is what is it monday like today i woke up it's mother's day and i thought it was monday so i wasn't expecting to see my mom here i was like hey girl what you doing here anyway that's the mayflowers challenge right before i forget i do want to mention that i do plan on making envelopes for my emergency fund lawrence college fund and also my three to six month expenses because i realize in these videos i always forget to show you guys the balances because they're all digital so i am working on that i need to get some 1k slips and get that all figured out but what i'm going to do now is show you on the screen all of my digital savings accounts and my capital one high yield savings so i'm showing you my emergency fund lauren's personal savings or college fund and my three to six month expenses so i just wanted to show you guys that so that you're not wondering why doesn't she have an emergency fund you know anything like that i don't want to leave you guys hanging so those are the three savings accounts i have right now that are digital but like i mentioned i'll be bringing them into my cash stuffing videos with some prop money still just so i can keep track of them because i'm always forgetting that they're there so that completes this video i really hope you guys enjoyed it hope it wasn't too long but i'm going to go ahead and go and i'm sure lauren's going to be waking up soon because she's usually right on point with all that but anyway i hope you have a great day have a great rest of your weekend and a great week coming up i'll see you guys in my next video i love you all you stay blessed and bye

Channel: TaylorBudgets

Views: 299,024

Rating: 4.9638352 out of 5

Keywords: low income, cash stuffing, cash envelopes and sinking funds, sinking funds and cash envelopes, cash envelopes for beginners, low income cash stuffing, cash envelope system for beginners, sinking funds and cash envelopes 2021, savings challenge 2021, cash stuffing envelopes for beginners, money savings challenge 2021, cash envelope system, sinking funds update, cash stuffing envelope, sinking funds 2021, cash stuffing envelopes low income, sinking funds envelopes, taylorbudgets

Id: wle5F6fkBUA

Length: 25min 42sec (1542 seconds)

Published: Tue May 11 2021