Budget Bootcamp Week Seven: Tips and Tricks

I know what you're thinking - "Duh, Jordan, the whole point of this entire series is about your tips and tricks for budgeting!" Well yes, you're not wrong, but today's focus is going to be on things like apps and resources you can use to help keep you on track. I'm going to share a few of my favorites here, and you can also find more ideas on my Pinterest board. Try out a few of them and see what fits you best.

The Envelope System
If you're not at all familiar with the Envelope Method, check it out here. The Budget Mom does a great job breaking it down in detail. You basically take one envelope for each category and fill it with your budgeted amount at the beginning of the month, or half each pay period. This is a great approach for those that prefer cash to plastic, or for those who have really struggled in the past to stay within budget. It forces you to really stay on top of your budget, however it does have a downfall, in my opinion. That downfall is the need to actually fumble around with envelopes. Imagine a trip to Target or Walmart. You might be spending from a few different categories (such as groceries, paper products, pet supplies and clothing)... are you going to want to fumble around with paying the cashier in four different phases? No. Are you going to want to now have lots of change and coins to put back into separate envelopes? No. I love the theory, but for our personal lifestyles, it became a hassle and I began looking for something more streamlined.

GoodBudget
Good Budget is basically the digital version of the Envelope System. It's a free app that allows you to track your spending and even your earnings. There are a few different versions depending on your needs, but ultimately the purpose here is having your budget in the palm of your hands at all times. You can also use the software through their website if you like. This is great for those of us that utilize cards more so than cash, or if you don't like the idea of physically maintaining and carrying around the envelopes. What I like about it is the ability to sync with other members of the household. With cash envelopes (which we tried once for a brief period of time), we would run into the issue of needing to stop on the way home for a couple quick items at the store, but the envelopes were at home. Then we were having to "repay" our "bank" envelope because we spent money on a card instead of that particular cash. GoodBudget allows both of us to have access to our "envelopes" and to see where were we are throughout the month at a quick glance. I can enter my spending in a few quick seconds before I even leave the parking lot of the grocery store. No more "If I remember correctly, we have about X dollars left in this category this month. Now you know exactly where you are at all times. Super simple and super helpful.

Mint
Mint.com is another website that helps you digitally track your spending. Mint also is available as a mobile app, and unlike the envelope system or GoodBudget, it can be utilized to track investments, bank balances, and bills as well. It offers all the same features as GoodBudget and then some. This is a great option if you want to have all of your financial info linked in one, secure place. Mint also can offer you alerts and advice as well as help monitor your credit score.

Check out these platforms or methods and see what you think. Have you found any other tips, tricks, methods or apps that help you stay on top of your budget? What works best for one person might not work as well for someone else, so I love hearing from readers about their personal experiences. If apps and envelopes overwhelm you, there is absolutely nothing wrong with good ol' pen and paper. You can keep track of your spending by using a small notebook in your purse or car, or by listing expenses in your notepad on your phone. The goal here is to find whatever works best for you and to make staying on track as simple as possible! As we round out the month of February, I encourage you to review your spending and reflect on how you're are doing. What areas are you excelling in? What areas are you struggling in? How have your habits changed over the last seven weeks? What can you change to make March your most successful budget month yet?