How to Make a Budget

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Take the fear out of budgeting with our step-by-step guide to crafting a budget you can really live with.

Step 1. Relax!

Before you do anything take a deep breath and relax. . . feel better? We’re not here to make the perfect budget, or change your financial world overnight. We’ll get to that later. For now we just need to put a budget together that we can work with. There will be plenty of time to reflect and make changes later. The most important thing is to just get started, keep going.

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FAQ: Be Smarter with #tagging

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Tags are a way to keep track of spending that occurs in more than one Envelope. You can use this feature to keep track of pretty much anything, from spending on events or personal projects to tax deductions.

For example, I’ve always wondered how much I spend on tailgate parties. When I go tailgating I buy food from my Groceries Envelope, gas from my Transportation Envelope, and tickets from my Fun Money Envelope. Because the expenses are recorded to different Envelopes it’s hard to know how much I really spend. With tags I can add a “tailgate” tag to each of these expenses and see how much I spend on tailgating no matter how many Envelopes the expenses are recorded to.

How do I add a #tag to an expense?

To add a tag simply type “#” and then the name of your tag into the notes field of the expense. Here, I’m buying food for my next tailgate party. I record the expense to my Groceries Envelope as usual, but now I add “#tailgating” into the notes field.

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Sync Your EEBA Household

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Did you know you can sync your EEBA household across multiple mobile devices and the web?

Register your household and you’ll be able to login with the same household username and password on any device. We’ll keep your budget up-to-date automagically.

If you started on iPhone…

  • Head to the “More” tab,
  • Press “Register…”
  • Then fill out the form to complete your registration.

That’s it! You can now access your budget on the EEBA website, or on another mobile device.

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FAQ: How Can I Track My Debt in EEBA?

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Q: I’ve decided to finally pay off my credit cards! How can I use EEBA to keep track of how much I owe, how much I want to pay, and how close I am to achieving my goal?

Paying off debt is a great financial goal. You may feel the pinch in the short term, but in the long run you’ll save money and enjoy greater peace of mind. With EEBA, you’ll have two options when keeping track of your debt.

Option 1: Track the Balance of Your Debt (Plus/Premium)

If you’re on the Plus or Premium plan with EEBA, you can use Accounts to keep track of the balance of your debt as you pay it off. Here’s how:

Step 1.Create a Credit Card Account for Each Debt
Head to the Accounts page to create a new Credit Card Account for each debt you want to track. Enter the balance of the Account as a positive number, equal to the current balance that you owe.

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FAQ: How to Start In the Middle of the Month

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

The best time to start a budget is now. Whether you’re just tracking your expenses, budgeting off your income, or using Accounts in EEBA to manage every dollar, you can get started with EEBA today. Read on to learn how.

I just want to track my expenses in EEBA.

Start by creating your Envelopes and then funding them on the Add Money / Receive Income page. You can fund your Envelopes to full, or fund them partially based on when you’re starting in the month. For example, if you’re starting half-way through the month you could fund your Envelopes to half their budgeted amount.

As you record transactions you’ll be able to track your expenses in EEBA. When the month ends, fund your Envelopes again to start the new month.

I want to budget off my income.

For budgets based off income, it’s best to start from your last paycheck.

  • Start by creating your Envelopes to represent your budget.
  • Then, head to the Add Money / Receive Income page and choose “Specify” to fund your Envelopes from your last paycheck.
  • Finally, record the transactions that have happened since your last paycheck, and continue to record transactions as the month goes on.

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FAQ: Track your Bills in EEBA

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Q: How can I track my bills in EEBA?

Between utility bills, insurance premiums, service charges, loan payments, and who knows what else, keeping track of “the bills” can be a headache.
Thankfully, EEBA can help!

Use Scheduled Expenses to Track Your Bills

Linkhttps://eebacanhelp.com/scheduled/edit-recurring.php

Available on the Plus and Premium plans with EEBA, Scheduled Expenses can help you track your bills through the month. Follow the link above to head to the Scheduled Expense page. There you can:

  • Create an expense to keep track of each of your bills.
  • For bills that vary in amount you can enter an estimate for now.
  • Set the expense to repeat whenever the bill comes due.
  • Finally, check the box to “Remind me by e-mail” so EEBA will remind you before the bill comes due.

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FAQ: Can I Save My Refill to Use Again Later?

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Q: Each paycheck, I use the “Specify” option to fund my Envelopes just the way I want. Can I save the details of this refill to use again later?

Yes! Whether you’re using the “Specify” option on the Add Money / Receive Income page, or you’re Distributing funds from your Unallocated Money, EEBA lets you choose how you want to fund each Envelope individually. You can then save your choices as a “Remembered Refill” to use again later. Here’s how:

  • Start by entering a funding transaction as you normally would.
  • When you’re done, check the box next to “Remember this refill.”
  • Then enter a name for the refill.

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FAQ: How Can I Set Goals in EEBA?

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Whether it’s your property taxes, a summer vacation, or your Holiday spending, we all have expenses that seem to creep up on us through the year.

Don’t be surprised by these predictable expenses! Instead, set a savings goal to budget for them throughout the year. You’ll save up for them bit by bit, and have peace of mind knowing you’ll be ready when the time comes to pay them.

Use Annual/Irregular Envelopes to Save for Big Expenses

Start by creating an Annual/Irregular Envelope in EEBA:

  • Head to the Edit Budgets page to create an Annual/Irregular Envelope.
  • Set the Envelope’s Budget to how much you’d like to save each year.

EEBA will break down your annual goal into regular monthly parts.

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FAQ: How Can I Keep an Account Off My Budget?

Update

EEBA is now Goodbudget! Goodbudget has all the great features of EEBA (and more!) in a new and updated interface. Check out our updated article on this topic, and check out the Goodbudget Help Center for the most recent help content.

Q: I have a Checking and a Savings Account in EEBA, but I only want to spend from my Checking. How can I keep funds from my Savings Account off my budget?

Accounts with EEBA (Available on the Plus and Premium Plans) lets you base your budget off your actual bank account balances. As you create your Accounts, EEBA will add funds to your Unallocated Money to match. This lets you budget with all the funds you have available.

Keep an Account “off” your budget

Say you have a Checking Account with $1500, and a Savings Account with $800. You see $2300 in your Unallocated Money, but you only want to budget with the $1500 from your Checking.

To do this in EEBA:

  • Go to the Edit Budgets page and create an Annual / Irregular Envelope called “Savings” with a budget of “0.”
  • Then, go to the Distribute from Unallocated page to distribute $800 to the Envelope.

That’s it! Now you’ll have just $1500 left to work with in your Budget.

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