Get Dave Ramsey Quickie Budget Form

Note: The EveryDollar app offers a free version and a “Plus” version that will cost you $129 per year. We'll give you the lowdown on both. Account summary: You can use EveryDollar to see all your accounts and keep up with their transactions.

The EveryDollar app, created by Dave Ramsey is designed for people who follow the zero-based budget approach. This app, which you can download on Apple and Android devices, makes it easy to assign every dollar you have coming in each month a place to go.

But it's really just these five steps. Add your income. A budget starts with your income. ... List your expenses. Next, list out your expenses. ... Budget to zero. This doesn't mean you spend all your money and leave an empty bank account at the end of the month. ... Track your expenses. ... Budget every month before the month begins.

For those who don't know, the 50-30-20 budget plan is an American concept that seeks to save money and budget your money smartly. After taxes, your income should be divided into: 50% on essential needs; 30% on wants; and 20% on paying off your debt or setting aside funds in case of an emergency.

There's an 80-20 rule for money Dave Ramsey teaches which says managing your finances is 80 percent behavior and 20 percent knowledge. This 80-20 rule also applies to constructing a healthy life. Personal wellness is 80 percent behavior and 20 percent knowledge.

With the 80/20 rule of thumb for budgeting, you put 20% of your take-home pay into savings. The remaining 80% is for spending. It's a simplified version of the 50/30/20 rule of thumb, which allocates 50% of your take-home pay to needs, 30% to wants, and 20% to saving.

The 80/20 budgeting method is a common budgeting approach. It involves saving 20% of your income and limiting your spending to 80% of your earnings. This technique allows you to put savings first, and it's both flexible and easy.

How to use the EveryDollar app Enter your income. Start by entering all your anticipated income in the "Income for [Month]" category. ... Enter your monthly expenses. ... Enter your debts. ... Add new budget categories. ... Connect your accounts. ... Tracking with automatic transaction imports. ... Tracking transactions manually. ... Pros of EveryDollar.

Some Experts Say the 50/30/20 Is Not a Good Rule at All. “This budget is restrictive and does not take into consideration your values, lifestyle and money goals. For example, 50% for needs is not enough for those in high-cost-of-living areas.