This week I will explore EveryDollar, Dave Ramsey’s free online budgeting program. Being a customer of his paid budgeting service, it will be interesting to see how it compares and what features are has. His paid service is great, but found it a bit difficult for me to stay consistent with.
It did give a lot of information but the time required to maintain the budget became a bit too much for me, so I have not used it for months. ***(Since the writing of this post Dave Ramsey’s Gazelle Budget Program has been taken down in lieu of EveryDollar Plus)
Lets Check Out EveryDollar
I have to enter my email and create a password when I first go on the site After doing so the program recognized I am a subscriber to Dave Ramsey’s budgeting program and prompted me to submit the password I use from that program. Not sure how this connection will matter?
One thing I did not care for was verifying my email before the start. I just want to jump right in and start making my budget. My email is overflowing with unwanted ads, I did not want another possible solicitation service. This was just a bother to me.
Once you verify your email, a nice quick intro comes up ending with a solicitation for Every Dollar Plus. For now I will stick with the free option. The categories for your budget are pretty straight forward.
Simply Enter Your Information
The first piece of information required is your monthly income. No option is given to enter a bi-weekly or weekly amount, as with other plans. The categories include, giving, saving, housing, transportation, food, lifestyle, insurance and taxes.
Within each group there are other suggestions for budget items such as car replacement. restaurants, and child care. This section set-up is very appealing. It is very easy to understand and straight forward. There is also the option to add other categories as needed.
You begin your budget by entering the amount you plan to spend for each category of the month. This, of course, is an estimation since you have no prior months to draw from. The intro lets you know that it will not be super accurate the first time around. Once you enter your expense and income information a chart comes up on the sidebar that tells you what percent of your income is going to each specific category.
It is a small thing, but I think each category being color coded helped me to differentiate the information. And…well… that is pretty much it.
Just enter the estimated amounts and your budget is ready for the month. I was actually surprised at how easy it was. The paid program I used before took a lot more time to enter the information and seemed to expect a lot more accuracy to start off.
So far, I am really happy with this new streamlined program. It is much more simple and straight forward then expected. Next week, I will add some transactions and see if they are equally as easy.
To purchase the entire online budget review series check out the ebook