HOW TO USE EVERYDOLLAR APP (Tutorial: Budget in 15 MINUTES with a Dave Ramsey Zero-based Budget!)

Hello, everybody and welcome to my direct In today ,’ s video, I’m, going to teach you how to plan use Dave. Ramsey’s EveryDollar app. So if you want to learn how to budget like a pro, keep watching All right here, we are at everydollar com. You can actually use the desktop version of the app or just go to the app store and download EveryDollar instantly. I’m going to be using the desktop version for this tutorial since it’s easier and bigger to see, but there really is no difference between features and functionality of the two one :’ s just on your phone and one’s on personal computers. If you haven’t already go ahead and create an account, I’m going to assume you will know how to throw in your call and email address and sign up for things After that, let’s go and sign in, Since this is my first Time creating a budget, you are going to be brought up to the current month and everything is going to be blank. I’m going to click this procreate October budget button. What this does! This delivers up a template of some very common items that the majority of everyone has, and it’s a great template for starting your budget and getting everything off to the right foot. Everydollar is based on the zero located fund doctrine, which, basically, that everyone is of your income minus your overheads, equals zero every single month. What you’re going to be doing, is you’re going to be include for all the income coming in and then you’re going to give each dollar a home in the budget? So there’s not going to be months where you have an extra 200 300 just swimming around With zero based budgeting. You are under an obligation to put that somewhere, even if it’s just set it into savings. Let’s get started. The very first section that you need to fill out is the money coming in or your income. There are two ways that you can do this. You can either lump everything into one front. Item Let’s say in this example. I get paid weekly and I must pay 1 000, so I can either merely have one line item like this and just put 4 000 and then each time I must pay, I can time sounds and drag it to that section Or you can actually split it Out paycheck by paycheck, I prefer to do it this lane, because it allows me to easily add new paychecks when there’s months, where there are five weeks, you can simply sounds and add a fifth week and then settled the crowd right in there and then On your next month ,’ s fund, you can just go ahead and delete it Versus if you are adding it all in one paycheck , naturally people don’t have nice round numbers that they are getting paid. So then, you have to do some kind of estimates. For me, it’s just easier to know that hey. This is what I’m getting paid every single week and run from there. In this illustration, I have 4 000 that I am getting paid Now as one of the purposes of the zero located fund. It is my job to find every dollar a dwelling, All claim, let’s go ahead and get started with this. The very first section is giving. This is, if you compensate tithing to your religiou. I’m just going to throw that I offer a 10 tithing, so you can just go and threw that in there. The next slouse is savings. You can see that this is a fund because it has this little piggy bank. Next to it. I’m not going to actually go in and positioned any coin in this fund yet because I still need to budget for my menu and my ocean and my mortgage. But in this example, let’s say that I’m on baby pace, one which is to have 1 000 disaster money. If you’re not very well known the newborn steps, you can go here on this menu on the left hand, side, and it will actually move you through the different baby gradations and it actually knows which one you are in based on your budget, which is pretty Cool, Let’s say that for my disaster fund I want to have a savings goal of 1 000. So you just go right there and you save that. Let’s say that I previously have 500 Now. The great thing about these funds is that it recollects month to month how much is in here. If I’m able to add coin to this fund this month next month, let’s say: I supplement 100 horses next month. It will show the starting balance as 600 and then it are helpful in me get to my goal Now. With these other monies, you can add other stores, Let’s say I wishing to a Christmas fund. Any item that you supplement isn’t automatically going to appear as a fund, but what you do is you click on it and then right here you sounds. Make this a fund click the button, Let’s say I want to do 500 for Christmas. You can do a variety of different funds: trip fund emergency money Christmas fund, whatever works for you, But again since I have pay and I haven’t really earmarked any fund. I’m not going to keep any fund in these funds yet because, if I scroll down, I still need to pay. My mortgage Here is your big housing section. In this lesson, let’s say that I have a mortgage. You can exactly click on it and you can rename these or delete or add things, and you can realise these categories work for you. These are the ones that are most common, so that’s why they occupy. In this lesson, my mortgage is 750. My water bill is 50, Let’s say I don’t have natural gas so that’s not something I must be addressed 100 for energy. I’m going to do cable internet since the issue is bundled And 125 And scrap. I’m. Just got to delete garbage because in this example I don’t have that I’m going to add another item. I’m going to add home upkeep because I am homeowner. Sometimes there are things that come up. Let’s say I’m going to be working on my lawn this month and I’m just going to allocate 50 for that because that needs to happen this month. So, as you are putting in the different quantities of what you’re planning to expend during the month, you’ll notice that it is subtracting up at the top. So I started with 4 000 and it’s. Making me know that I still have 2 525 left to budget, So I need to make sure that all of that this eventually goes down to zero For transportation. I’m going to leant 125 That’s just gas, getting me around township Maintenance. I’m just going to articulated 10 For me. Maintenance is vehicle, moves and things like that. I mean I could lean a separate one for vehicle, moves or whatnot All claim. The next category is food, and it has these two categories right here. There’s groceries and restaurants. I like that these are broken up, because groceries are the basic things that you need to live, and eateries are more fun nice to have things but not inevitabilities. In this example, let’s say I use 500 on groceries. For my family and I’m actually going to leave restaurants blank right now, because I don’t know if there’s going to be enough money in this budget to go out to eat this month. Let’s talk about planning, Let’s say: your goal is 500, but really month over month you’re not hitting it and you’re realistically expend is 600. You need to be honest and open with your budget and realize that you might need to up certain areas or decrease certain areas. If you’re budgeting higher than you need, then the next month maybe drop it down a little. That’s. The nice thing about its own budget, But you do need to remember that if you are upping something it’s going to have to come from somewhere else, so simply be aware of that. The next region is personal: These are things: robing, phone, fun, coin, whisker cosmetics subscriptions, Since I is a well-known fact that I still have 1 000 to pay off on my credit cards. I’m not going to earmark anything for clothing or anything enjoyable. I is a well-known fact that I do have a hair appointment this month. I’m, going to get my “hairs-breadth” trimmed and colored It’s going to be 100 horses. I’m hoping that can happen, but depending on what’s left at the end, we’ll see if I might have to cut that Lifestyle. These are for things it’s kind of same to personal, but it’s, things that are associated with you, your domesticateds, your children, So pets, children, presentation that’s kind of broad-spectrum. Some parties like to switch that out. You can situate movies. I’m going to lean athletics Now when you are using EveryDollar. You click these six flecks on one of the inaudible, 00, 07 14 pieces or up at the main category, and you can move those around Let’s say. I just wanted to put athletics next to movies And I’m going to add a section called back to clas, even though it’s October, let’s just claim I’m going to move that up by the girls. It’s back to academy go we’re going to have to have 150 for back to academy robes and gives. Now there is this category now called sundry, and this is actually one of my favorite lists, because even though you are doing the budget – and you are doing your best to try and anticipate what you will be spending and needing over the month for me, I find That there are things that I end up having to buy that I don’t inevitably plan on or think about at the start. So I like this miscellaneous category because it’s kind of a catchall for those I’m, just going to say 150 for catchall spending and we’ll know from there Health. This is things like the gym. Doctor’s stays, medication Say I go to the gym and it’s 100 a few months, But I’m not planning on having these two overheads this month, This last area this is different types of insurance. These are pretty standard month to month. I’m just going to throw in some sample numerals here, Let’s say my house and auto coverage is just wrap into the same payment. I’m going to get rid of this. I don’t need name steal insurance. So I’m going to delete that All right. Now we are to the very last section which is debt. To hinder this speciman simple. We’ll just say that the only debt that I have is a credit card payment. You can click on that and then I’m going to add the starting balance of the credit card to 1 000. I’m not going to mess with any of these ones right now Now remember, since I’m in newborn step one, I actually need to go and create a 1 000 disaster store before I even start undertaking any of the debt. I’m going to go down to that disaster fund. I have 500 in it once, so I have 810 left of my plan, so I’m just going to make 500 there Perfect. Now I have 310 left for my credit cards, so I can go ahead and framed all 310 right there. But should be going and looking at some of my other items, I really wanted to that credit card down and paid off. So I don’t want to deal with that, so I’m actually going to get rid of my fuzz appointment the coming week and I don’t know let’s just settle 510 for groceries. Let’s see if I can be utilized some tickets and spend little on groceries this month. Now who really allows me to have 500 to put toward my credit card payment, which is half I’ll kept 500 towards this, and then my goal next month will be to pay it off perfectly. The very last section here, if you have very unique needs for your family, that don’t fall into these main categories. You can add a group and then you can add different parts underneath each one of those All right. Now you can see that there is a lettuce check mark up now by the date, and it says it’s an every dollar budget, which means that every dollar has a home. Every single dollar is accounted for, which is really really exciting. All title you can see here on the right hand, side, there is a little pie chart that has a breakdown of all the money you are spending for the month Again we have 4 000, and here’s where it is going About 13 is going to Debt About 13 is going to savings and 27 is going to housing, So that’s, where the good majority is going, That’s a lot of money to be going to some of these interesting thing like indebtednes and savings, which means that you don’T have a lot of extra money to do amusing. Things like go out to restaurants. This month I couldn’t get my haircut. You have to sacrifice That’s. Just current realities of when you’re in debt. Is that you, don’t have money to do these things That’s? What I certainly been fucking loving doing this budget is, it concludes it really really clear where all of your fund is and where it’s going. One other thing that I want to call out with EveryDollar: if you have lists that you expend a lot, you can merely click on it. There’s a little star right here and you click are additional to favourites group and now it creates a brand-new segment right. Underneath income called favorites – These are things that maybe, if I’m, going to the grocery store every week Or another one that I can add. I’m going to add gas for my auto because I’m probably replenishing up once a week And I’m going to add miscellaneous because it seems like sundry things kind of always up now. Now let’s go up now to these transactions. So if you click on the accounts button, this is actually going to bring up a prompting to try. Everydollar Plus We are using the free version of EveryDollar, which meant that I “re going to have to” manually put in all of the transactions during the month. But what EveryDollar Plus does it connects with your bank and it automatically gathers in the transactions? I’m going to show you an example of what that looks like It impels it so easy because all you literally have to do is drag and quit. And then you were able to do your budgeting and made everything in their categories within 60 seconds and be on your room. I really would recommend doing this. You can try it for 15 eras. Free And cartel me. You will not want to go back. It is 100 for a year or 10 a month, but I find by having this availability. It saves me a lot more time and I actually end up saving a lot more money, because I’m sticking to my plan. It’s, concluding it as easy as it looks. So, for me, the 100 a year is totally totally worth it All right. So now let’s go to the transaction slouse, Go up to the top left corner click this plus clue. This is where, since we are using the free version we’re going to have to manually going to be home and set some of these transactions, You sounds add brand-new. I’m going to time an income. First, Let’s say that I’m getting paid on the first Friday of the month and I’m just going to set employer and then what you do. Is you choose where you want this to go? This is going to be a paycheck one and you click move income. You can see right here before they have these gray-headed wires underneath it. That wants there’s nothing in there, but when it’s all the way lettuce, it means that you have fully fill up 100. That section So I was expecting to get paid 1 000 and I did must pay 1 000. Let’s go in and add a few other business. Next, we’re going to click outlay, Let’s say that I did 100 on this appointment and I’ll just say grocery store and then you click and since I already saved groceries as a favorite, it’s right there and you just sounds And do that You can see when I scroll down to groceries the bar is about more or less one. Fifth of the practice completed I expended 100 and my objective for the month is 510. Now I’m going to show you an example of dividing an overhead, Let’s say. I pulled 150 out of my bank, so I’ll precisely set bank ATM, Let’s say that I invested this fund on two different things. You’re. First, going to click the first thing that you expend it on Let’s say that I paid my phone and then it will pop up at a separate. So then “theres going”, and you computed your second point. Let’s say that I expended the second largest on back to institution. My phone bill was 50, so I’m going to employ that there is nothing to. You can see that it leaves this zero and says 100 remaining. You are to be able sounds and click on the 100 remaining and it will automatically fill it out for you, which is super nice Or you are eligible to only kind it in Let’s say you did even more things with this. You can continue to add even more separates and divide things up that course. All right here are some sample events that I started. If you want them to appear un categorized, when “youre creating” the deal, you simply don’t assign it to a budget item. So anything unassigned will appear right here Now, “if youre having” EveryDollar Plus this is what it’s going to look like when you log into your app Anything that you have spent. It is automatically going to pull these transactions in. It reaches it really easy to actually start doing the budget as you go Now. All I have to do is drag and throw. My first one is that credit card payment and then my gym fee only dragged that health insurance drag that right there. You can be found in the light-green wire is going the whole way. Now. I did this to show an example. I went to Costco I devoted 450, which is crazy. You can be found in because I’d exclusively apprehended expend 510 and I devoted 550, so it’s showing this red bar indicating that I have overspent in this category. So in this example, I’m really going to have to look back at my budget and see where I can chip things. So maybe that back to school I spent 100, and maybe I can’t yield to do anything else and maybe we can buy the other things that we need later. The last thing I’m going to do is I’m just going to categorize my mortgage. That is how you create your budget and then how you laden the transactions. I want to show you one more thing before “theres going”. Let’s say that I’m getting ready to do my November budget now. So you exactly sounds this little button right here, this small down arrow and click November and it’s going to mostly clone. Last month.’s plan Click start planning for November. You’ll notice that it pre populates the things from last month. So all the categories and the amounts that I had last month, it’s going to automatically have those in there. This is really nice because, formerly you get going, there are a large majority of pieces that are the same month over month, Your different health insurance or insurance premiums. Those are probably the same. Your mortgage or your fee are similar. The nice thing about it, cloning, its own budget, is that a lot of the items are already pre replenished and then you can go in and simply deepen different entries based on what you think, Let’s say. For example , now I paid off my credit card, so that is zero in this example, which is awesome, which foliages me so much more money each month to do some of these other things I can go back up and back to institution. That was a one time. Expense, I’m just going to go ahead and delete that Now I have money to do my hair appointment. I’m going to go back up and for the remaining money, let’s say that everything else is good for this month and is not going to change. I’m going to go back up here to my disaster money and recollect. I started with 500 I supplemented 500 last-place month so now my emergency fund is fully funded, so I don’t need to keep any coin in here right now, Let’s say I’ve moved on to the baby step. I already completed baby step. One Now, actually all my obligations are paid off In this example: it’s prove the current month, so it still foresees I haven’t paid everything else off So now I would be saving for three to six months of outlays in November. I’m. Actually, just going to throw all that money that’s left 1 060 into creating this second emergency fund Baby step. One is you initiate kind of a child disaster fund and then baby step? Three is to create an emergency fund of three to six months expenses and you got to go from there All liberty. So that is how you create a budget exercising EveryDollar. I personally desired EveryDollar, Use it every day. I get so excited when brand-new business come in and I get to drag and throw them to their different locations. I hope you concluded this helpful If you did and you’re going to start planning using EveryDollar be sure to give this video a like and subscribe and, of course, check out these two other videos for more useful tips on social media marketing and how to Manage your life, See you guys,.

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