Okay so I just downloaded the Every Dollar app and it's probably the best thing I've done since the quarantine. What exactly is the Every Dollar App? It is a system that allows you to input your monthly income and all the expenses you have for the month. Essentially, its a budgeting app.
The best part is that you can visually see where all your money is going to and how much money you have left. The system tells you to input the following:
- Monthly paychecks
- Housing expenses (rent, electricity, cable, etc.)
- Personal expenses ( phone bills, shopping, subscriptions, fun money ...)
and so much more!
I am a visual learner, therefore seeing where everything is going has given me a better idea on how I'm doing financially. You can always go back in and edit if some numbers have changed. If you have been meaning to work on a budgeting plan, i highly recommend to create an account on this app/website and see where most of your money is going to.
Theres a section in the website called BABY STEPS. This is where you can see the progress of the goals you inserted when creating your account. Whether you wanted to build an emergency fund, pay off some debt, or save for a house. In the baby steps section I currently have an emergency fund that it literally shows how much I put into the fund and how much is left to get to my goal! so freaking cool.
There is also a pay off debt section...
"List your debts (except for the house) in order. Pay them off from smallest to largest. The smallest balance should be your number-one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first."
Honestly the possibilities are endless in this application because you can customize it to your lifestyle. Check it out and let me know what you thought of the experience :)