Four envelopes to savings success

(Shutterstock)
(Shutterstock)
Fin24 user Doug Beadle has already written how using envelopes gave him the discipline to manage his income.

Fin24 user Robert shares the secret of how he managed to retire at 52, by using the same method.

He writes:


I am 68, and retired at 52.

I started to work at 14 in Belgium. My grandmother taught me about the envelope (method to save): you take your salary and divide by it by four; then you take your expenses and divide them by four.

You take four envelopes and mark each envelope with a quarter's expense.

If there are five weeks, you take an extra envelope to save overtime as well.

I became the director of a company and until my retirement, I insisted on being paid weekly and in cash.

I am well off today and never had a debt or account in my life except my house, which I paid off over 10 years THANKS TO THE ENVELOPE. 

 - Fin24

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