Spending Plans/ Budgets
The Compass Budget
Do you know how your great grandparents kept a budget before people used checks, credit and debit cards and online banking? Simple! They used the cash-in-the-envelope system. They labeled envelopes for various spending categories and at the beginning of the month put a budgeted amount of cash in each envelope. And, for example, when the “clothes” envelope was empty, they didn’t spend anymore on clothes that month. It was simple and effective. You’ll use a similar system with the Compass Spending Plan!
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Mint automatically updates your information every night and categorizes everything for you.
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