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Dave Ramsey has a free app called “EveryDollar” that you can put on your phone and your computer.  It is a budgeting app that helps you tell your money where to go, instead of keeping track of where your money went.  What’s the difference? In my opinion it puts you more in control of what you’re doing with your money. This app is very easy to use.  

The problem I had with this app is that I get paid every two weeks and I would split my paycheck up by only putting half of my monthly mortgage payment to my mortgage checking account every payday.  For example let’s say I got paid $2000 on the 9th, then I would take $650 of that and hold it for the next months mortgage. When I got paid $2000 again on the 23rd, I would take another $650 and put it with the first $650 and make the house payment.  It was just easier for me to take half of the mortgage payment from each paycheck, so my accounts are a little complicated for the average person. Every so often I would get paid 3 times per month, and when that would happen I would continue with how I was paying the mortgage and I would just be a month ahead on the mortgage payment.

Alas,  I found what worked best for me was the Dave Ramsey Allocated Spending Plan:

Dave Ramsey’s Allocated Spending Plan

It’s pretty easy to use. It’s actually 4 pages long (yes, there are lots of categories to choose from). Just put your net income in the “pay period income” column, then place the amount of money you will be spending for each separate category and deduct it from the previous remaining balance column.

I have been using this for the last 2 and a half years.  It’s what works for me at this time. Try it. It also is simple to use.  If you need any instructions for it, just comment below or you can look it up on or look it up on YouTube.

I love the allocated spending plan.  It makes me more conscious of where my money needs to go.  I can also plan vacations, buy big purchases, etc. ahead of time by utilizing this form.  I know exactly where my money needs to go and how much will be left over to fund my retirement.

But now that I am on Dave Ramsey’s Baby Step 6 (paying off mortgage early) I may try to use the EveryDollar app again.  What do you think?

Here’s to reading on!

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