Friday, July 08, 2011

Envelope Budgeting

I was in college when I was introduced to the idea of envelope budgeting. I have been budgeted my money using this idea for over 10 years. Here is an good introduction.





Budgeting was one of the reasons I wanted a smart phone. I was very excited to find a EEBA (Easy Envelope Budgeting Aid) app for my android phone.

https://www.eebacanhelp.com/login.php

Here is info on how to use EEBA.



Using EEBA free does not include account information. You are just tracking spending against a set spending allowance. It allows for 10 budget "envelopes" and 10 annual / irregular "envelopes".

I get paid every two weeks. I set up 10 envelopes I can empty ever two - four weeks. I also set up 5 irregular envelopes for things like my MSA account, building savings, and car insurance. I am also hoping to have my students use the sight to work on budgeting skills.

Live long, and prosper.

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