How many times has someone told you to make a budget? They share their budget with you and it normally starts like this:
I only spend $20 dollars a week eating out.
Well isn’t that nice. Is that truly budgeting or minimizing spending risk in one area? Maybe someone will only spend $20 dollars a week eating out but they spend $500 a month on clothes.
I’m guilty. I told myself I was spending too much excess cash. So I cut out Starbucks. Decided to eat out only once a week. But then that week was really just the work week. Well I was off every other Friday, so that turned into once a week during a 4 day work week. Anyways, you get the point.
I tried the Excel spreadsheet and figured out how much I was able to spend without digging into what I needed for expenses. But that wasn’t working and it was so cumbersome. I decided to visit the App Store and I discovered Daily Budget
I am telling you all that this is hands down the best app you can install on your phone. Pay the one time fee to unlock the entire app and you won’t be disappointed. Every single transaction I make, I record. After about 30-60 days the habit is formed and I consistently record my expenses, income, and savings daily.
It’s simple. Input how much you make. Deduct your primary fixed expenses (rent, car, phone bill, etc.) and then the app will set a daily amount. If your allowed to spend $100 a day and you deduct $20 for that day, your $80 dollar surplus will carry over to the next day. Spend more than your allowed and you run a deficit.
You can track your trends, export to Excel, and back it up so you don’t lose the data.
You can even budget for a big expense that you’d like to pay for in the future. At the end of the month take the surplus and pay down debt, save, or invest.
Try the free version and see what you think.