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Budgeting is such a simple part of mastering our finances, we have to visit it a lot. I’ve written on this topic in several other blog posts. And I dedicated an entire chapter to budgeting in my book Graduated and Clueless (which happens to be a free ebook through the end of today!).
I like writing about budgeting because I like numbers. But you don’t have to love numbers in order to master it!
Let’s look at three simple apps that are excellent options for budgeting. YOU can start budgeting TODAY.
1. Every dollar
From the start, I’ll say that Every Dollar is the personal budgeting app that Bailey and I use. It’s the one we got started with and we’ve been very happy with it since.
It’s really very simple how it set’s up your budget. It gives you areas to split your monthly finances — giving, saving, housing, transportation, lifestyle, insurance, tax, and debt. Every month, you set the money you have coming in and split it among these categories with specific line items like clothes (in lifestyle) or electric bill (in housing).
The point is to give every dollar a place every month.
If you don’t, you’re likely going to be more like me and use that “extra cash” for the restaurant line item! Hey, food is a major part of my life. I literally link every good meal I eat with a place and a time in my head. It just happens.
The thing I like about Every Dollar is the simplicity and functionality. You can create funds (like a tire fund) so that you can save for something specific months in advance (did someone say vacation?)!
Give the app a try. I recommend it.
As an acronym (You Need A Budget), YNAB is another excellent app with great functionality. It has very similar features to Every Dollar except it “gamifies” budgeting a bit more.
It allows you to connect with other people to gain encouragement in the difficult space of budgeting. Plus, it gives you medals when you accomplish certain financial goals.
I actually thought this was a clever feature. People love connecting with others, especially on difficult activities (like working out, yuck). People also love virtual medals and trophies. Hey, it’s hard to beat that shot of dopamine.
The only thing I didn’t like much about it is that you have to pay after the initial free trial. Now, it does allow you to sync your budget with your bank and import transactions. That is a nice feature that Every Dollar also allows you to do for $10 a month.
I just like having the free option. And I’ve tried linking my bank with my budget and it takes too long for transactions to appear. And if I don’t record a transaction immediately, I will forget by the time the budget syncs with the banks.
Mint is Intuit’s budgeting software. What’s awesome about this is that if you use TurboTax for filing your taxes, it’s really really nice to have everything with the same company. It makes controlling your finances, taxes, and maybe your invoicing (Intuit Quickbooks) if you have a business super easy.
I have a business and I like having my softwares connected. And Mint is another intuitive and user-friendly software. I just have been using Every Dollar and it’s been working for me. But I wouldn’t have any problem with using Mint.
Plus, it’s free.
Choose an app and get started budgeting today.
Today. Seriously. I’m not joking, if you don’t tell your money where to go, it will bite you at the end of the month. Control your finances and don’t let it control you! You can reach your financial goals!
Do you budget? if so, how do you do it?
I want to hear from you in the comments below! Do you have any budgeting questions? I will do my best to answer any that you have. And as always, if you found value in this post, give it a like and give me a follow!
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