Reach your savings goals with Goodbudget (on the web!)

Save for vacation with Goal Envelopes on the Web! With Goal Envelopes (just added to Goodbudget on the Web), you can save for those big one-time purchases you’ve been daydreaming about for awhile. Set a due date, and Goodbudget will tell you how much to save each paycheck to reach your goal. Time to save … Read more

Save with Purpose

When we choose to save, we’re paying a cost today with the hope of a future reward later. Many of us choose not to save thinking we can’t bear that present cost. Other’s may overemphasize the future reward and save without purpose or limit. Both of these perspectives can be misleading. As you think about your own saving, take some time to think about what you’re saving for. Having a clear purpose for your savings will help you make the hard decisions about when and how much to save, and let you know when you’ve saved enough.

What are you saving for?

Having a clear purpose for your savings will help you prioritize it over other distractions that are sure to happen each month. Years ago I tried to start a savings account, but never decided what I was saving for. Unsurprisingly, each month something would come up that would distract me from saving. One month my car needed to be repaired, another month my friends would want to go on a road trip. Without a purpose for my savings account, it was hard to ever say no to these things and my savings account remained empty.

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When You’re Making More, But Seeing Less

Have you ever felt like the more you make, the less you have? You know you’re bringing more money home each month, but somehow it feels like you have less to spend than ever. That’s what it feels like when you don’t have control over your spending, and that’s when it’s more important than ever to have a budget.

I experienced this a few months ago when I got a raise at work. Perfect, I thought, since I was already living off my current income the raise would all be extra. I could set it aside towards a goal in EEBA, add it to my Savings, or whatever I needed. Unsure of how I wanted to use the extra money, I decided to just let it gather in my Unallocated Money. As the months passed, however, I was surprised to find that my Unallocated Money balance wasn’t increasing as I thought it would, but was in fact decreasing. What was going on?

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