It’s no secret that the envelope system is an excellent way to take control of your money. It’s literally like a secret weapon to helping folks pay off debt, save money, live within their means — all that good stuff.
I’ve tried the cash envelope system many times, but I’m one of those ladies who will be digging through her purse at checkout — searching for her grocery envelope amongst the many other things in my bag.
It’s not a good look.
While I love having the cash to make my purchases, it also drives me nuts trying to keep up with multiple cash envelopes. I’m definitely a wallet kinda gal, so I figured I can’t be alone in this, right?
Well, since I know there are more folks out there like me, I figured, why not just do a roundup of some of the best cash envelope wallets? You know, a wallet that meets a couple of needs — functional and most importantly, cute?
It can be hard to find a cash envelope wallet that meets those requirements, but I assure you, they are out there and I’ve found them for you. If you’re in love with the cash envelope system and not necessarily a fan of the paper envelopes, I’ve found quite a few cute cash envelope wallets to meet your needs.
But first, let me answer a few questions some of you may have…
What is the envelope system?
The envelope system is a visual way of helping you stay on budget. All good working budgets have categories where you tell your money what to do. For instance, you have categories for food, toiletries, medical expenses, and hobbies.
Well, after you write your budget out on paper, you have to put it in action. The cash envelope system gives you better control over your budget because you simply withdraw the amounts you need for each category you typically pay in cash and put them in their individual envelopes.
For example, if your budget dictates that you will spend only $100 on groceries for the week, you would withdraw $100 and put it in an envelope labeled groceries.
Throughout the week, you will write down how much you spend on the envelope or just collect your receipts in the envelope. Once the money is gone from that envelope, you’ve spent your grocery money for the week.
Related Reading: The Best Way to Gift Money This Holiday
What categories are in the envelope system?
As I mentioned, the categories will depend on what you typically pay for in cash. No one really pays their mortgage in cash, so you wouldn’t necessarily need an envelope for your mortgage. However, there are some folks who might pay their rent in cash.
Write down every category where you pay a bill or can make a purchase in cash. Above I included food, toiletries, medical expenses, and hobbies. Other categories may include:
- Kids extracurricular activities
- Lunches
- Eating out
- Beauty
- Haircuts
- Clothing
- Landscaper
- Car washes
- Gas
So, if let’s just say you have 10 categories you’d pay in cash, that’s a lot of envelopes to keep up with. And I, for one, would not do a good job managing so many envelopes.
It wouldn’t matter if I kept them at home until it was time to use them or not. I work better with a wallet which is exactly why I wanted to know what type of cash envelope wallets would make the cash envelope system easier.
A good cash envelope wallet for me should meet the following:
- Room for multiple categories (4 or more since I typically use it for groceries, toiletries, doctors expenses, and eating out)
- An area for credit cards, license, and store reward cards
- Space for coins and other loose items
- Affordable
Let’s take a look at some of the best cash envelope wallets out there…
The Best Cash Envelope Wallets for The Cash Envelope System
FINLAER Women’s Leather Clutch Envelope Wallet
I like this cash envelope wallet because it looks like your normal everyday wallet. You can use this as a clutch or a wallet and it has 6 cash spaces.
While you can’t label this wallet with your categories, I have a nice solution for that — colored paper clips. Green for groceries, blue for toiletries, etc.
Plus, considering how chic this wallet is, wouldn’t it make the perfect holiday gift for your money-conscious friend?
The Savvy Spender – Large Foldover Budgeting Clutch Wallet by Divvy Up
I absolutely adore this wallet because again, it’s chic. It looks like something I would normally carry and it’s black. It includes 5 magnetic cash envelopes to help you secure your cash in the wallet.
There are also adhesives so you can personalize your wallet with your budget categories. It’s large enough for most Android and iPhone devices and some of your other essentials.
If you don’t want to carry all of your envelopes at once, you can carry one, three, or as many as you need. It’s very versatile and super affordable, which makes it a great contender in this best cash envelope wallet round-up.
Bella Taylor Cash System Wallets
The Bella Taylor Cash System Wallet is another great wallet to add to this round-up because they provide you with choices! There are so many fun colors and patterns to choose from. It fulfills its purpose and is strictly a cash envelope wallet.
I don’t think there would be room for your cell phone, but at least your cash and receipts will be nice and organized using this system. Plus, you can customize your budget categories with this one too.
The Great Divide. A Cash System Wallet with 5 Magnetic Cash Envelopes by Divvy Up
There are quite a few things to love about this cash wallet system:
- First, there’s plenty of storage for 12 debit or credit cards, 5 cash envelope, a zipper pouch, and 2 additional storage pockets. Basically, it meets all my requirements at an affordable price!
- Second, you can customize the cash envelope wallet with the write-on-adhesive labels to personalize your budget categories.
- Magnetic closures on the cash envelopes to help the envelopes stay put in your wallet. Take the envelopes you need on your shopping trip and leave the rest at home.
These are hands down some of the best and most affordable cash envelope wallets I could find. There were a few on Etsy; however, the prices were well above my price range.
If you like to support small business owners and you’re willing to spend a little more, I’d definitely check out Etsy because you can customize to your heart’s content! I especially like this wallet on Etsy because the envelopes are see-through!