Easy Envelope Budget Aid (EEBA): Blog

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.

Read more »

Angela Colley is a financial writer for Money Crashers Personal Finance, an online resource with tips for budgeting, saving for long-term goals, and planning for early retirement.

For years, I kept track of my financial budget on a piece of paper in my desk drawer. It was an okay system, but it didn’t allow me to track my financial goals. I just didn’t have the time to compare my spending with my budget each month.

Then I got a smartphone and discovered the Easy Envelope Budget Aid (EEBA) app. Now I stay on top of my finances, stay within budget, and always have enough money for what I need. It took me a while to work out a budgeting system using the EEBA app, but now I have great system, and you can too.

Here are some tips you can use to get the most out of the EEBA app:

1. Create Plenty of Envelopes
A well-organized tracking system makes it easier to make a budget, and to know exactly where your money goes. The EEBA app utilizes “Envelopes” as a method of creating budget categories. When I first started budgeting, I used one Envelope for my house, one for necessities, and one for extras. Now, I have 10 Envelopes to cover everything I buy through this Envelope Budgeting System.

The EEBA app helped me to understand that I need to spend less money on extras and dining out. You can quickly add Envelopes using the EEBA app to help you stay on budget. Use all of the Envelopes you think you might need when you start using the Easy Envelope Budget Aid, and don’t hesitate to add more as you need them.

Read more »

I’m a California girl through and through. I love blue skies and sunny weather. But in my corner of “Sunny California,” it rains 1 out of every 5 days. Rain isn’t an unexpected crisis; it’s just a fact of life. And so when I go out I bring my rain jacket with me. If it rains, I wear it — no need to scramble or curse the weather. And if not, even better — I get to enjoy the clear skies.

Our budgets have rainy days too. Do you have your financial rain jacket ready?

Plan for a Rainy Day

When I set up my budget in EEBA, I had an 11-year-old car, my beloved 2000 Chevy Prizm. I knew the inevitable rainy day would come when my trusty car would fail. So I made an Irregular Envelope called “Car Fund” and started sweeping money into it every month. Automatic savings plan — check!

Rain Happens

Then the financial rain came — no surprise there. It always comes, just a matter of when. My car was in a minor accident and had enough damage that my insurance cut me a check instead of fixing it. Bummer.

Don’t Panic — Put On Your Jacket

I could’ve panicked, screamed “emergency!” and borrowed money to fix the car or buy a new one. But it wasn’t an emergency — just a rainy day — and I had my Car Fund for a rain jacket. All that monthly sweeping had saved up enough to buy another used car.

What rainy days are you planning ahead for?

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:

Q: It’s the middle of the month and I want to start using EEBA. Do I need to wait till the end of the month, or can I get started with EEBA today?

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.

Read more »

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

Link: https://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.

Read more »

With tax season drawing to a close, many of us are starting to wonder what we’ll do with our tax refunds. The average American household receives a refund of about $3,000.* That may seem like a lot of money, but without a clear plan on how to save or spend that money, it can disappear before you know it.

Don’t let your tax return slip by! Use the tips below to decide how you’re going to spend your return today, so that you’ll be ready when the time comes.

Pay down debt

If you’re keeping track of long-term debt in EEBA, your tax refund is a great opportunity to get ahead. Allocate what you can now to pay down your debt, and you’ll save each month with lower payments. The average credit card charges ~15% interest. Investing $500 now to pay down your debt can save you over $1,000 over 5 years.

Save towards a goal

Saving towards a long-term goal? Use your refund to catch up or get ahead on your savings plan. If you don’t have a long-term savings goal, start one! Don’t be “surprised” the next time the holidays come around, or your property tax comes due.  Set goals in EEBA to budget for these large, but predictable expenses.

Be generous

Be generous with your money to experience joy and disarm fears of not having enough. If you already make donations to a charity, that’s great! But feel free to be creative in how you give, you can take a young person out to lunch, or treat your spouse to something nice. Have fun with your generosity!

We are proud to announce a new release for EEBA on Android and the Web! Get it now on Google Play, or learn more about what’s new below.

Enhanced Budget Period Options, on Android and the Web Custom start dates for *every* budget period. In-App spending guide keeps you on track with your budget.

How to Update EEBA for Android

Head to Google Play on your phone or on the web to download the update. Look under “My Apps” in Google Play on your phone, or just search for “EEBA” in the Play store.

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.

Read more »

Q: How can I set a savings goal in EEBA and track my progress towards reaching it?

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.

Read more »