This week I will explore EveryDollar, Dave Ramsey’s free online budgeting program. Having used his pay budgeting service it will be interesting to see how it compares and what features it offers. I have to add that I really did like his paid service but found it a bit difficult for me to stay consistent with. It offered a little to much and required more time then I had to maintain so I have not used it for months. (I’m still subscribed to it however.)
Upon entering the site I am required to submit my email and create a password. After entering my email it recognized that I had been a subscriber to Dave Ramsey’s budgeting program and prompted me to submit that password. Not sure how this connection will matter. One thing I did not care for was having to verify my email before getting started. I just want to jump right in and start making my budget. My email is so over crowed having another possible solicitation service just kinda bothered 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. First, you enter your monthly income. No option is given to enter a bi-weekly or weekly amount, as we have seen in other plans. The categories include, giving saving, housing, transportation, food, lifestyle, insurance and taxes. Within each group there are a bunch of other suggestions for budget items such as car replacement. restaurants, and child care. I really liked the set-up. It is very easy to understand and straight forward. You can also add other categories as needed.
To start off you enter the amount you plan to spend for each category of the month. This, of course, is an estimation and the intro lets you know that it will not be super accurate the first time around. Once all your expense and income information is entered a chart comes up on the sidebar that tells you what percent of your income is going to each specific category. I know it is a small thing, but I also like how each category is color coded in this chart. It helped me to differentiate each piece of information.
That is pretty much it. Just enter the estimated amounts and your budget is ready for the month. I was actually really 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 simplified and straight forward then I expected. Next week I will add some transactions and see if they are equally as easy.