EveryDollar is an app by Ramsey Solutions, Inc. that makes budgeting for the month simple and quick. I’ll admit, detail-loving nerds like myself will find it a bit fun, but only secretly… You can sign up for the free version on your favorite web browser or download the free app on your smartphone.
The point of the app is to have the user assign every dollar (hence the name) of income to a specific expense at the beginning of each month. Then, as you realize income, make purchases, pay bills, save and invest, you log the transactions. At the end of the month all of the line items should equal $0 remaining (in a perfect world).
EveryDollar mobile app makes budgeting easy wherever you go!
This action plan to tell your money where to go instead of wondering where it went each month is made even easier by linking your bank account so the transactions automatically import into EveryDollar once they post to your bank. From there it’s just a matter of sliding the transaction with your finger from the transaction list to the proper ‘account’. So. Freaking. Easy. This enhanced version will cost you $9.99 per month but is certainly worth a line item in your budget, in my humble opinion.
Best of all is that EveryDollar is all customizable. You can list all of your expenses in alphabetical order, in associated groups, smallest to largest, or my personal favorite, split up like a business financial statement, categorizing each expense line item under variable expenses, semi-fixed expenses or fixed expenses. You can learn more about how I personally separate them in this Budget Like A Pro article.