EveryDollar App Tutorial | How I Use EveryDollar

hey guys I am so excited to do this
tutorial with you we are going to use every dollar Tom to create a zero based
budget now Dave Ramsey has created this app in a website and it is amazing I
absolutely love it and like that you can use it on website or app and it’s
incredible for you know couples or people that you know have multiple
people in their account in wanting to use the app so if Jimmy wants to add
something he can or if he makes purchases I can see that right there and
is in live time which is so incredible it’s not like you have to go home update
the excel sheet no it’s all lifetime so I’m gonna go with you step-by-step how
to set up a next month’s budget so we are starting for August so we are just
gonna start planning for August and it is gonna bring over everything that we
have here so we are going to be inputting our paychecks and this is just
I played around with this a little bit before so we’re gonna just put in you
know fake numbers these aren’t gonna be your actual numbers but we are just
going to do a fake numbers to try and you know figure out the best way that
this works so we are going to say the Paycheck one paycheck two came and then
we have a side job that brought in let’s say an extra thousand dollars so this is
what we are projecting is 6500 dollars for the month now it is going to
calculate our tithe this is going to be when you do 10% of that so we’re going
to do at $650 for tithe or if you want to do another giving you know if you
want to give to a hurricane Harvey or something like that you can add an item
here so let’s say we want to do that Herick let’s just put Harvey leave or
Houston and let’s say we want to do let’s say $200 for that because we have
some some some given in our heart that we want to give to them alright so
emergency fund if you do not have your $1,000 emergency fund that’s your main
focus you want to be focusing on putting money towards your emergency fund me my
thousand all merge soon as you find is all set so we are going to skip that and
then we are going to go to Christmas so let’s put let’s put $50 away for
Christmas clothing now that we have Jamie’s clothing to worry about before I
was just doing $10 months for me but now that Jamie is in the picture let’s say
$50 as well all right so laptop we are saving $25 a month for that car
fund let’s say 35 a month that’s just for you know basic wear and hair and
I’ll show you just stuff like that we just want to have that moving fund no
one would need that I am moving or I’m dead moving so you just click this
delete button and it says yes delete next it gifts $30 a month for gifts
that’s pretty good vacations is $25 a month um let’s let’s
bump that up to 40 wedding wedding we do not need to say for anymore we’re going
to delete that medical let’s bump that up to $50 a month car insurance
$250 month perfect alright housing rent rent we are going to say $1,600 a month
electricity we’re gonna say 150 and as you can see up here up top left to
budget every it’s gonna calculate as you go which is awesome so mobile phone is
4732 a month is $61 a month perfect so that’s
everything for housing now say you had to add something like you wanted to add
a trash in trash was $15 a month you just add it to pretty easy all right
transportation auto and gas we are going to do $200 a month groceries let’s see
$200 restaurants 150 gym membership 23-19 perfect and this is the life-size
how to worry pocket money since for Jamie and I let’s say say $150 each or
we can even do this we can do Kelly pocket money and then we can do Jamie
pocket money that’s me 50 Kelly’s gonna be 50/50 not 5 and then we can move this
up so that Jamie and Kelly are together Weight Watchers is 871 a month so that’s
it for lifestyle and as you can see over here on the side it’s going to color
code each thing so giving is blue then savings is red household or housing is
orange as you can see that’s the most that I’ve spent so far transportations
is lime green food is this turquoise lifestyles purple and then we’re going
to get into insurance and tax so renter’s insurance is 1884 a month auto
insurance is $250 a month and then we have debt so if you have debt you’re
gonna put that here me I want to add sinking funds
because sinking funds are so important so the first one that we are going to do
is a laptop fund in that is going to be $25 a month next is going to be
vacations because it’s so important to enjoy yourself and let me move this up a
little bit and that is going to be you what let’s say hundred dollars a month
all right then we are going to do gifts now this is different from Christmas
this is you know just little gifts for holidays birthdays different things like
that let’s say $50 a month so that we can really splurge next we are going to
do clothing actually did we already do clothing I think we did all right yes so
we did clothing under savings so I’m going to actually move some of this
stuff around so we change this yeah so we’re going to do this
saving slash sinking funds okay and then we can actually delete these see I’m
just playing around with you guys vacations yes would we okay so then
sinking funds that we are going to minimize so what C we have clothing
laptop gifts vacations all right so we have this so we have a two thousand two
hundred ninety six dollars left to budget so this is zero based budget so
we don’t want to put any of this in here we want to spend it off so what I am
going to do is we like I said I already have our thousand dollar mergency fund
but we’re going to start on our three to six month emergency fund so this we are
going to put our remaining budgeted amount
chiju nine six three four two two nine six three four so it’s equal okay so
when it says it’s an every dollar budget then you note that you have completed
your budget you’re all set you have a zero based budget which is your goal so
guys let me know what you guys think let me know if you have any questions down
below in the comments I would be happy to do another every doubt every dollar
tutorial with you guys I absolutely love this I love Dave brand so you guys know
that I’m big followers of Dave and it’s just incredible absolutely love it the
app in the website every dollar

31 thoughts on “EveryDollar App Tutorial | How I Use EveryDollar

  • Hi Kelly, I have been following you for awhile and learned how to set up a budget in excel. I’m not understanding how to work in the cash envelopes into the budget. I took cash out at the beginning of the month, and I’m keeping track each time I spend, but how do you not take it out twice if I link it to my budget?

  • Love Everydollar! Have been using it since Jan this year. Thanks for showing your tricks – it is motivating to see you do it.

  • My only problem is taking the "every dollar" budget and breaking it down by the weekly paychecks 😅 I think I need to build up a bit of a slush fund in my checking before I'm comfortable doing "every dollar"

  • Do you enter net or gross pay? There is a place to enter 401k, which is taken before tax and already deducted. Would I be correct to budget my net pay and leave the entries for 401k, health insurance etc blank? It's all deducted before I get my pay. Seems unnecessarily complicated to add them back in then deduct them out again.

  • I'm so grateful for you video… using the saving category as a sinking fund category is genius

  • Hi! love your video. One question, what is the difference between a fund and a sinking fund? And how do you keep a running total of your Christmas , vacation etc.. monthly budgeted saving items?

  • Can you do a Tutorial on a weekly pay period. And some of the ways to tweek it. It would be awesome if they would make an Allocated option.

  • So at the end the month, can I feel confident applying the total "REMAINING" amount towards my debt snowball? This is a true number of all money left over after my expenses, correct?

  • Hello! Thank you so much for this tutorial! I am not clear on how to keep track of what is spent. How do you update the budget with actual bank transactions?

  • Can you please do the budget with keeping up with debt repayment and keeping up with savings and sinking funds, the amounts accumulated during year. I get confused with that , how to do it. Can you please let me know when there is new video for it. Thank you.

  • Mabye consider giving 10% of your income to a legitimate cause? Seriously doubt jesus would be mad at you for giving it to babies with cancer instead of a "church."

  • I understand how to set-up the budget but I can't figure out how to use this app after the budget is set up. do I log every purchase when it is made (like you used to do in your check register when you used checks)? For credit cards do you enter how much you owe or just how much you are planning on paying? If I enter what I owe then the budget won't balance. But if I only enter what I am going to pay then how do I track the balance? I don't get it! I keep searching for a tutorial that will show how to use the app but all I can find is how to set up a budget.

  • Do I need to put the something on the "received" side for the paychecks. I'm confused what "received" side is for if I already put the paycheck amounts on the "planned" side.

  • Am I correct in thinking that you don't get very far without using the paid for version? I downloaded this and I am getting nowhere fast… it just keeps telling me to get the paid version to use the full app. That defeats my purpose. It really is not working for me but I will give it one more shot and then uninstall it if I can't get it to work out for me. Bummed…

  • How do you link another person like your husband to the EveryDollar app. I’m assuming maybe you just use the same login? Also how do you track it… maybe you show this in a different video. It looked like in the add that you can link it from your debit/bank account somehow? Maybe that’s the plus account. Thanks!

  • I need an intervention. Populating the fields is easy. How they (or you) utilize the "received" "Remaining" and "Spent" fields is confusing. I clicked on the "Ask a Coach" feature and left this message: Still very new to this…So I populated the Checks 1 and Checks 2 fields in the Income Category using the Every Dollar Plus a few days ago. Now the checks have posted to my bank account. How do I change the amounts that are still in the "planned" box" to the "received"?

    I received this response: To answer your question about EveryDollar, you should see your bank transactions showing up within EveryDollar. You need to drag the income transaction over to either Check 1 or Check 2 – OR – click on the transaction and manually attach it to Check 1 or Check 2. Either one of these will result in showing both your planned and actual figures for both income and expenses.

    P.S. using the Plus

  • I've set up our budget, but I don't understand why when you actually go over your budget, it doesn't let you know that. I tried ynab.com (you need a budget) and I really liked how theirs would let you know that you need to make money up somewhere. Am I missing something?

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