4. Use prepaid cards in lieu of Cash. Sure, the "envelope" system of budgeting -- in which a set amount of cash is divided between envelopes for budgetary needs -- is popular, but it's also risky. "It's not extremely safe to carry around $500, $800, in your pocket, so I think from a safety perspective, you're better off having a branded payment card," says Tramontana.
5. Track your spending with your prepaid card and receive daily balance alerts via e-mail or over your cell phone. "Previously, when we used cash, we would spend through it really fast and not have any idea where it all went. Now that we can see it on the computer screen, it's easy to see where our Money is going and where we can cut back," says Young.
6. Create a living expenses budget, loading $30 to $50 a week onto a Prepaid Card for workweek lunches, mid-morning lattes, and snacks. Once that money is gone, it's time to brown bag it and drink the bitter dregs in the lunchroom.
