What we use to budget!
Ever since the beginning of our marriage we have been big into budgeting. My in-laws paid for us to go to a Dave Ramsey Financial Peace University class, and I cannot recommend it enough. It jump started our love for budgeting and paying cash for things.
I love that we can both be on the same page through a budget, and not feel guilty about spending a little money. If it's in the budget, we have agreed on it and it's okay. Dave Ramsey repeatedly says that your money has to be told where to go. Even if it's a mere $5 dollar drink, you must have budgeted that in and told it to go to that category. You must account for every penny you earn. Every month we set out a budget and go over it together reminding each other of our goals we have for the month regarding money.
To be honest our budget doesn't change much from month to month, unless we have a big purchase that is needed that's not usually part of our expenses.
I love to write down our budget in my planner because I am a visual person and it reminds me to stick to it every time I open my planner up, which is every day.
Disclosure: we were sponsored to discuss the app Personal Capital, but all opinions are our own and we really do use it daily. Recently though, we started using the app called Personal Capital. It links to your bank account and tracks all your purchases and categorizes them into categories for you. You can sort the purchases yourself and add or edit a category. You can also use it on the computer if you don't have a smart device, and best news yet is it is completely free.
The app compares your spending to your whole budget set out and tells you the percentage of money you have spend of it. You also get a whole overview of your net worth if you put in all your information about assets and all your accounts. It's cool to see how much you are spending and where. We love doing a cash based-budget but I always forget my cash or get it mixed up so I tend to use my card more often than not. This allows me to use the card and still be able to stick to a tight budget.
We are moving into a different house later this year and have a big goal to save $10,000 to put towards all new flooring. It's exciting to think that we will finally have a place of our own after renting for 6 years, and moving 5 different times. It's also overwhelming to know how much any sort of remodel costs to do.
It will be tight to save the full $10,000 in cash to use, but I know that we can do it. Especially with this tool at my fingertips to be checking in with constantly. The thing I have noticed about budgeting is once you start doing it and see success, the better you are at sticking to it and continuing to budget more and more. If you are new to budgeting, the app Personal Capital is a good place to start. I have a feeling I will be using it forever. I am hooked to seeing where we spend our hard earned money. Which I guess is a good obsession to have!