For some time I have been trying to move into the current century. You know, using the calendar on my computer/phone instead of writing things down on my super spectacular sticky note system. Which really didn’t turn out to be all that spectacular most of the time. I have started using apps on my phone and getting everything synced with my computer so that I could be more productive and efficient with my time. Quite a while back, a friend mentioned that she had been using a new budget app called EEBA. (Thanks June!!!) She said that it had really helped her family get their spending under control and that it was like a digital envelope system. It sounded like just what I had been looking for!
EEBA (now called Goodbudget) allows you to create envelopes for different categories and allocate your money into each of those envelopes. When you spend money you take the money out of the correct envelope and keep track of your spending on your computer or directly from your smart phone! For example: I budget $100 a week for groceries and household supplies. I have a grocery envelope and deposit $200 every two weeks into that envelope. Whenever Eva and I go grocery shopping we take out what we have spent directly from that envelope. We can see at a glance how much money is left in our grocery envelope and plan accordingly. I particularly love that I can use my phone to take the money out while I am still standing at the register! Very helpful.
Goodbudget has a free trial and several different different paid plans. After I used the trial and made sure that it was something I would actually use, I went ahead and purchased the PLUS plan. The BASIC plan ($30 for a year) has 20 envelopes, which wasn’t quite enough for us. I like to really separate out my categories so I went with the PLUS plan ($45 for a year) that offers 40 envelopes. They have several very helpful videos that show you exactly how to use the system.
One of the things that I like the most about Goodbudget is that it has gotten Eva involved even more in our financial ‘reality’. Often, she is the one who enters our purchases into the app on my phone when we leave a store. She can see first hand how quickly our grocery money and gas money gets spent. I think that this has given her a new appreciation for restricting our purchases to those things that we really need in order that our budgeted money will last for the entire two weeks. And if you over spend? The little envelope frowns at you. So funny!
If you have been looking for something like this I highly recommend giving Goodbudget a try. They even have a completely FREE VERSION that would be perfect for a teen who wants to do an envelope system without the actual envelopes. It gives you 10 envelopes and many of the features of the paid version. Goodbudget has made budgeting and tracking so much easier for us!
If you give it a try let me know what you think!
Goodbudget has never heard of me. I just wanted to tell you about them cause I love ’em!