I think it is time that I talked about how I am budgeting myself to become debt free.
Before making the “leap” to publicly announce my commitment to becoming debt free I had tried out budgeting in the past but failed incredibly. I tried writing out a budget, using Mint, and using Learnvest. I also used to be the type of person that would look at my bank account, pay my bills, figure out how much money I had left, and then spend the rest on whatever I felt like spending it on. BUT, None of these options worked for me and I needed to try something else.
After reading several blogs about becoming debt free, I felt like I received the “push” I needed to seriously start my journey. For budgeting and keeping track of my money, I am using a budgeting software called You Need A Budget. (YNAB). I have been using it since June and this is the first system I have been honestly able to stick to.
YNAB allows you to enter your available funds and give every dollar a job. For example, I get paid every Friday and every Friday morning before I head to work I enter the amount I was paid into the software as available income. Then I give every dollar a job by assigning it into a category. You can create your own categories to reflect your own budget and monetary needs.
When you make a transaction you will enter it into the software and it will automatically subtract it from your budgeted amount. I remember back in the day trying to keep track of my spending in a check register and I can tell you that this is WAY easier.
Reasons why I love YNAB:
- This software requires you to do the work and be active in where your funds are being assigned to.
- YNAB is also available on iPhone, Android, Kindle Fire, and iPad. I use it on my computer and my phone to keep track of my finances and enter in transactions.
- I can see my progress week by week or month by month. It feels good to know that this is working.
- YNAB allows your budget to be flexible. Things come up unexpectedly and you may need to move funds around. That is OKAY. You can move around funds anytime you’d like.
- You can download it with a 34-day trial to try it out for yourself here! AND if you love it as much as I do, you can purchase it for only $60.
If any of you have been wanting to try budgeting then I would 100% suggest that you try out YNAB. I encourage you all to take control of your finances (if you haven’t already) and plan for greater things in life! If you have any questions, I am here to answer them!