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Selling my car this month! Bought a 2002 oldie. By March I’ll have paid off all debt, a fully funded emergency fund, a car repair fund and the start of house savings. SO EXCITED. 2024 is going to be so different 👏🏼
You had me at: 1. Car repair fund 2. Fully-funded emergency funds Speaking of, can you share the multiplier you used for the emergency fund? Ex. Monthly life budget * 3 months 😅 I hope my ques makes sense, thanks!
Thank you. Jade ,George,Bobby and the rest of the Ramsey Team, that was one of the best live streams you've put out yet. Special thanks to Dave and Sharon for the suffering they went through to help us not to have to suffer the same. May GOD bless everyone with longevity of life and prosperity.
@@angel-ij4xv the same reason if you have a business, you would charge people for the time and effort you've spent into investing into your business. Unless you would you give away all of your services for free? You do realize it takes money to keep websites/apps like everydollar running right? That's why RU-vid...has ads, they need to make money to keep their servers running. If you don't want to pay $70 a year for a system that helps you budget that's fine, create your own budgeting system and spent that 70 on whatever junk you deem is deserving. It just seems like you're the greedy one with how you're expecting someone else to do all of the work to make things easy for you so you can benefit off their backs. By the way I'm saying this as someone that doesn't use everydollar or any budgeting app since I've developed my own spreadsheets to track my spending.
I've been avoiding/hiding from updating my Everydollar budgets for the last 3 months because I didn't understand how to create and move things around. This session has been super helpful! I'm all caught up through April! NOW I'm confident in my skills talents and abilities! No more budgeting on a post-it note!! I did FPU in Sept 2023, paid back $20k loan from 401k, got a part-time job Dec 2023. I'm moving with gazelle intensity out here in deez streetz! LOL LOL LOL!!!! Paid off a $5k bill already!!! I was tired, sinking and had so much fear, now I'm freakin excited!!! So Grateful & Thankful to Jade and George for making budgeting fun and light tonight. And thank you to everyone (those seen and unseen) at The Dave Ramsey Show! Peace Love & Happiness, Grace
General comment/can't find the right video. STOP telling people to draw Social Security while working full time. This generally results in a cut to SS payments. Income past about$22K cuts SS payments by 1 dollar for every 2 earned over the $22K
One of the questions they answered about what to do with the money in the "remaining" balance categories at the end of the month like in the grocery budget or other line items I would do different. I have a different way of doing it in every dollar app. I would for sure say DO NOT take the remaining and stick it into "income" slot for the next month because that will throw off your insights tool of showing how much you made in the year, it would be off. There are two options or maybe three. If you are on the envelope system then just don't budget as much for the next month because you have money remaining from the previous month. If you are doing it digitally then I would either make some of those line items like grocery budget into a "fund" and then just let it roll over to the next month so you don't need to budget as much for groceries. OR readjust the "planned" number to reflect how much you actually spent and zero out the remaining. That would then end up creating an amount that would still need to be budgeted and so that money could be allocated towards debt line items or savings etc to make it an "every dollar budget" again for the month before you start the next month. Even if you have already copied and pasted for the next month if you go back and adjust it will adjust for the new month as long as your line items are in a "fund" category. If you have remaining leftover in a line item that isn't designated as a fund amount, you need to readjust the planned amount to zero out the remaining or that remaining balance will not be copied over to the next month. You have to find something to do with those dollars. So a lot of my categories are actually fund line items just to make it easier for it to roll over.
Hey! From Illinois, I have a big question for you! My children are receiving a large settlement and I am receiving a consortium claim. The lawyers want to have pacific life hold the kids money, and want an annuity.
Budgeting is easy.... Accounting is hard. Spending in one month but hitting the bank in the next month is accrual accounting, aka cruel accounting in my world 🤣 "hurts my brain" is real!.
To this young people you have some awesome communication skills ,no doubt that Dave R knows who he has working for him . I am amazed at this ministry certainly God inspired wild!!!
Just asking, wouldn’t it be easier for the 6 month, 3 month, annual payment to just break it up per month in Every Dollar? Example: you know your 6 month car insurance payment is going to be around $660. So make a category for every month “Car Insurance” and budget it to $110. So that way in 6 months you don’t have a huge payment that may break the bank or send you into more debt just to pay. You already have the money set aside for it because you budgeted properly.
My wife and I add a sinking fund for things like this. We do it for things like oil (heat), insurance, Christmas, etc. Anything we know is coming down the line and is easier to spread the cost over months in advance.
On the last point, I just have every category as a fund. If our groceries have $25 left over, it just carries over to the next month. It would be great if there was a feature option for carryover instead of using a fund to do that! We obviously still use the fund option for our sinking funds like car insurance, car repairs, renters insurance, medical expenses, and even our mint mobile costs but it would be nice to just have carryover for things like groceries, gas, etc to keep us honest with where that "extra money" is going.
Yes! I don't like how if the line item isn't set up as a fund when you copy and paste the remaining balance isn't there anymore. You either have to have it as a fund to carry over or you have to adjust your planned number to zero out that amount and reconfigure where you're going to put the money that wasn't used or it just looks like it's not even in there anymore. I also don't like how if I under or over planned my paycheck number that if I just put in that I received the paycheck the app doesn't tell you that you are now over or under budget. So I have to adjust the planned amount based on the actual paycheck number for it to all workout.I hope the Ramsey team will fix this! Don't get me wrong, I love the every dollar at I especially like using the desktop version. I just hope they're able to tweak it up some more to work out better.
Budgeting for food is a crap shoot. My retired BF does $40 week for food (EBT), but I have to supplement from my farm grown foods to keep his menu plan on the healthy side.
Paycheck planning feature totally saved us time and a potential issue when coming off a drop in income. Helped us not overspend when checks increased, but before we “caught up”
Thank you so much for showing how to use these features on the Every Dollar app! Understanding how to set up a fund on a line item and carry over the balance from a previous month has made me so happy! Now I feel like I can use this app more to its full potential and keep myself as organized as I like to be. 😁
We have a separate excel sheet with all the costs. Also quarterly and yearly with the pay dates. Add everything up for the whole year. Divide by 12 and put that in a fund every month.
The feature of making something a FUND needs a fix. It should be good just to add to a find and track your contribution as it keeps adding up and lower when you use it for its purpose. It can be just an extra button within the make-this-a-fun selection. That'd be awesome.
Thank you for explaining that you can delete the transactions going into sinking funds when they come out of your checking. I'm a fairly new premium user, and that was the biggest thing I was unclear about. It was perfect. Loving it and loving step 7!
Love this content! My only beef with the app is the sinking funds. Everything else works so well together by tracking your spent or saved money to each category. Why is that feature different than all others?
The kids money has to be set up so that their payments can not be changed or altered so they want an annuity and neither parent can have access (which I agree with!) But I feel there are other ways to make this money grow to a larger amount other than what they believe a judge will agree to.
I’ve been doing my budget every month on the app for the past 3 months. Every month, I’m in the “RED” high risk of overspending. How do I get out of the red? I feel like I’m already at the bare minimum of spending.
I am going thru a issue right now with a car dealership. They didn't have my original contract in there system and then forge another contract to make the numbers right because it didn't match up. The 100% forge my signature on the new one they made. What should I do? Should I let it go? Can I get back my original lease payments?
I am lost with budgeting my finances. My family says I am cheap but still I feel like I am spending too much. Could you help me please as I want to save for my kids
We’re a family of 6, soon 7 and we budget $800 a month for food. Very realistic! We eat very well and I don’t let us not enjoy foods. But be smart! There are serious deals on a weekly basis on different types of produce, meats etc. So I make sure most of our foods are on sale. It allows you to eat a good and variable diet too :)
I have about $12k in credit cards and $8k car loan. My car value is about $6k. It is a 2017 Nissan Versa with 86k miles. I'm in baby step 2. I'm trying to decide what to do about my car. I don't have the funds to get a new used car at this point. I'm selling stuff and trying to do more on my side business to get more income. Any suggestions? I also love Jade and George...just received his book and I love it. I'm already using EveryDollar and have taken FPU twice. I'm struggling with my budget.
I would just keep the car, unless it's breaking down all the time. Learn some basic maintenance skills, and research what should be done on your vehicle at certain mileage points. Do what you can, and then find a trusted local mechanic for the bigger maintenance projects. Our vehicles have 58k, 90k, and 178k. Ongoing preventative maintenance is key to keep your vehicle running smooth, and it's so much more affordable that buying a newer car.
I usethe freeApp ver of ED,why is planned income minus spent so far do not show the correct remaining to spend number when dollars are allocated in the sinkfunds?Very annoying i alwaysneed tosubstract
Yes, if you decide to use your sinking funds for a purchase then the spending breakdown looks like you spent more than you brought in for the month. It is kind of annoying so I just ignore that feature where it shows spend versus remaining of the overall amount for the month. But I do use the spending and remaining amounts for each line item to keep track. I'm also not a fan of when you want to use sinking funds and you use them that it colors it red as if you are in the negative when you're not. I think it should only be colored red if you are going over not just spending the money and the sinking fund.
Generally, budget based on the least you would reasonably earn. Then have a ranked list for where each additional dollar goes. If strongly seasonal, save the gap in a separate bank account to fund the gap in low months.
@@arh1234 thank you. Perhaps you can help me with another question. When they say that every dollar has to go somewhere, I'm assuming that saving is a category. In 2023 my wife and I saved on average 2.5k a month.
@@leviyk7 They say you can do 3 things with money: give, save and spend. You can decide where every dollar goes balancing these 3, so yes saving is a category. I'd only suggest to be specific on what are you saving for (like emergency fund, house, car etc.). Having clear goals helps a lot to save faster!
They usually tell people to just do the snowball method in most cases, because if you consolidate it, it can give you a sense of "problem solved" and you won't have the same "gazelle intensity" to pay off your debt quickly. It can make sense mathematically to consolidate if you get a lower interest rate, or even if you negotiate your debts with the lender to reduce it, but you need to be very intentional about that to avoid the false "problem solved" feeling, cause even if lower you would still have a debt to pay off.
I would put your planned checks in the income sections and if you happen to have a different income source that's unexpected then just create a new line item under income and label it and put it under the planned. That will create it where it will show you you have to budget more money and then you just adjust the budget so then it can be an every dollar budget. Sometimes I will under or overestimate a paycheck by a few dollars or $100 and so when I actually received the check then I put that I received it in the app but then I will also adjust the planned number accordingly and so then I might have to adjust down or up the amounts and some of the categories to reflect in every dollar budget.
I like the feature to add accounts on the premium version but I ausencia PayPal and the T-Mobile banking a lot and they aren’t available through the app. I find this problem with most budgeting apps. Can you please work a solution for these type of less popular accounts?
Loving this App, didn’t know how to put in date of pay, so this helps a lot, I live in South Africa 🇿🇦 Have dollar sign instead of Rands but that’s fine.
I have followed passionate penny pinchers for menu, couponing and savings ideas.We spend $300 for a month groceries for our family of 2. They recommend adding $100 a month for each additional person so a family of 3= $400, family of 4= $500 ECT. It is totally doable!! Make a menu based off what is in your fridge and pantry, and what is on sale. Eat at home! Don't throw food in the trash!
I shop at Aldi, in Kansas, except for fresh produce and we spend $800 in groceries for a family of 4. I can't imagine what it would be in large cities!
I have my every dollar budget. However at the end of the day, there is nothing left for savings and paying more than minimum for debt. Im 66. Husband 67. Im retired. He has part time job. Seems i need to go back to work because there is nothing left to cut in expenses. What am i missing?
Then you have an income problem and your life is simply too expensive for the income you have. The app is there so you can see what you’re spending and how to control your spending. It’s not going to give you magically money. Sadly yes you either have to increase your income or change your lifestyle. Best of luck! ❤
The team always say, only pay the minimum on your debt until you have your $1K emergency fund and then start the snow ball. You'll find extra money from only paying the minimum on credit cards and all debt. Don't give up!
It's a lot more tedious on the free version when you have to manually put in the transactions. Having the premium version makes it go so much faster even with the drag and drop feature. If you use the desktop version of the app then it will remember where you would put transactions previously and they'll be a little button that you can click to say put the Walmart transaction into the groceries category so it's more of a click instead of a drag which can be a little bit quicker. I prefer to use the desktop version over the mobile app version. With me personally I have to split categories sometimes so I have to go in and split a Walmart transaction into different categories because I'm pretty specific with different types of line items so I can't just drag or click those specific transactions if I'm putting them into multiple line item categories.
Love love love that Premium downloads transactions to Excel. I stacked January to December 2023 transactions into one spreadsheet and used pivot table and slicers to discover I spent $11,000 on groceries and restaurants during the year 😮 that was a shock!
