{"id":36174,"date":"2026-04-25T10:51:05","date_gmt":"2026-04-25T10:51:05","guid":{"rendered":"https:\/\/indafunds.com\/?p=36174"},"modified":"2026-04-25T10:51:06","modified_gmt":"2026-04-25T10:51:06","slug":"how-to-create-your-budget-with-everydollar","status":"publish","type":"post","link":"https:\/\/indafunds.com\/?p=36174","title":{"rendered":"How to Create Your Budget With EveryDollar"},"content":{"rendered":"
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The word\u00a0budget<\/em>\u00a0can get a bad rap. People think budgets are hard, time-consuming and restricting. But listen: The budget life is so worth it.\n <\/p>\n

Budgeting doesn\u2019t tell you\u00a0not<\/em>\u00a0to spend. It gives you permission to spend\u00a0the right way<\/em>\u2014to show your money who\u2019s in charge. (You.)\n <\/p>\n

And with EveryDollar, it\u2019s way easier. Ready to start? Let\u2019s break down the steps and learn how to create a budget with EveryDollar.\n <\/p>\n

What Is a Monthly Budget?<\/h2>\n

First, let\u2019s start with a solid definition of\u00a0budgeting. Your\u00a0monthly budget<\/em>\u00a0is just a plan for your money. Every dollar. Every month. When you create a monthly budget, you tell your money where to go so you\u2019re never again left wondering where it went.\n <\/p>\n

You can create your budget in a spreadsheet, on a piece of paper, or the best way\u2014with EveryDollar.\n <\/p>\n

Budget Step 1: Enter Your Income<\/h2>\n

The first step to create your monthly budget is simple: Enter your income.\u00a0Income<\/em>\u00a0is any money you plan to get during that month\u2014that means your normal paychecks and any extra money coming your way through a\u00a0side hustle, garage sale, freelance work and the like. \u00a0\u00a0\u00a0\n <\/p>\n

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Get expert money advice to reach your money goals faster!<\/p>\n<\/p><\/div>\n

Here\u2019s how you enter your income in EveryDollar:\u00a0\n <\/p>\n

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  1. Click Add Income.<\/li>\n
  2. Label the income as Paycheck 1, Paycheck 2, Side Hustle Money, or with your employer\u2019s name\u2014whatever works for you!<\/li>\n
  3. Click the Planned amount and add in a planned dollar amount.<\/li>\n
  4. Repeat that process with all the income you (and your spouse, if you\u2019re married) will earn in a month.<\/li>\n<\/ol>\n

    If you have an\u00a0irregular income, you can still do this! Just put the lowest estimate of what you normally make in this spot. And check out the new paycheck planning feature in the premium version of EveryDollar. It makes budgeting way easier for irregular incomers, just like you!\n <\/p>\n

    \"income\n <\/p>\n

    Budget Step 2: List Your Expenses<\/h2>\n

    Now that you\u2019ve planned for the money coming in, you\u2019re ready for step two\u2014planning for the money going out. It\u2019s time to list your expenses.\n <\/p>\n

    Before you jump into the bills and other expenses, set aside money for giving. We believe in 10% of your income here. And if you don\u2019t have an emergency fund yet, make savings one of your priorities.\n <\/p>\n

    Cover your Four Walls.<\/h3>\n

    Focus on covering your Four Walls\u00a0after that: food, utilities, shelter and transportation. In other words, you feed your family, keep the lights on, pay the rent or mortgage, put gas in the car, and keep the car running.\n <\/p>\n

    In EveryDollar, you\u2019ll cover your Four Walls inside the Housing, Transportation and Food budget categories. Under each category, you\u2019ll want to add budget lines by clicking Add Item and naming the line. (You can even use emojis! Hey, who says budgeting isn\u2019t fun?)\n <\/p>\n

    Check out our example budget below to see common budget lines for each of these categories.\n <\/p>\n

    Some of these budget lines are easy to plan for because they\u2019re what\u2019s called a\u00a0fixed expense<\/em>\u2014aka you pay the same amount every month. Your rent or mortgage, for example, is probably a fixed expense.\n <\/p>\n

    Other expenses change month to month, like how much you spend on gas. Don\u2019t worry. You can log into your online banking and look over the past couple of months. What do you usually spend on that expense? Make a good estimate based on past spending and put that into the Planned amount.\n <\/p>\n

    Do this for any food, utilities, shelter and transportation expenses you pay each month.\n <\/p>\n

    \"housing,\n <\/p>\n

    Then list all other monthly expenses in EveryDollar.<\/h3>\n

    Next, you need to list out all your other monthly expenses. Start with the essentials like insurance, debt and childcare. Then work in a miscellaneous line and any entertainment and fun money (sometimes called personal spending). In EveryDollar, you\u2019ll see these categories: Personal, Lifestyle, Health, Insurance and Debt.\n <\/p>\n

    Again, create the budget lines you need under each. Start with fixed expenses before filling in estimated planned amounts on any of the rest.\n <\/p>\n

    Okay now\u2014here\u2019s an important callout. Very. Important. If you\u2019ve got debt, you shouldn\u2019t be piling money into an entertainment or restaurant budget line. You need to cut back on all the extras until you\u2019ve kicked debt out of your life. Forever.\n <\/p>\n

    Why? Debt steals this month\u2019s income to cover something in the past. It\u2019s like taking two steps forward with your money only to be yanked back again.\u00a0Get rid of the debt. Then you\u2019ll free up money each month to do what\u00a0you\u00a0<\/em>want instead of what your debts demand.\n <\/p>\n

    \"personal\n <\/p>\n

    Budget Step 3: Subtract Expenses From Income<\/h2>\n

    When you\u2019ve got all those expenses in your monthly budget, you need to subtract them from your income. (And guess what\u2014EveryDollar does this for you automatically as you fill in your budget lines! Heck yeah.)\n <\/p>\n

    If you have money left when you\u2019ve subtracted all your expenses, put it toward your current money goal, like saving or paying off debt. If you end up with a negative number, you need to cut some expenses.\n <\/p>\n

    \"emergency\n <\/p>\n

    Your goal is to make a zero-based budget\u2014aka all your income minus all your expenses equals zero. \u00a0So, if you make $5,200 a month like our sample budget, you\u2019re giving all $5,200 a job\u2014paying bills, saving money, paying off debt, and living life!\n <\/p>\n

    To help you know when you\u2019ve reached zero, we announce it proudly at the top of your screen: It\u2019s an EveryDollar Budget! If you see that, celebrate. You just budgeted to zero.\n <\/p>\n

    \"August\n <\/p>\n

    Now, and this important, your\u00a0bank account\u00a0<\/em>should never hit zero. Keep a little buffer in your checking account of about $200 for extra safety.\n <\/p>\n

    Budget Step 4: Track Your Transactions<\/h2>\n

    We\u2019ve got good news and bad news. The bad news is, you can\u2019t create a monthly budget and leave it alone. Like a sloth hanging from a tree limb, it\u2019ll do nothing for you. The good news is, we\u2019ve got the secret to staying on top of your budget. Track. Your. Expenses.\n <\/p>\n

    When you buy something, when you pay a bill, when you spend money at all . . . you need to put those expenses in your budget. That way you\u2019ll know exactly how much you have left to spend.\n <\/p>\n

    Tracking expenses is a great way to stay accountable, to yourself and your budget! Also, if you\u2019re married\u2014both of you should use one <\/em>EveryDollar account so you\u2019re both getting the full view of your shared budget.\n <\/p>\n

    Do this throughout the month\u2014not just at the very end. Then you\u2019ll know when to adjust to keep yourself from overspending.\n <\/p>\n

    Tracking your transactions is one of the\u00a0single most important<\/em>\u00a0ways you\u2019ll keep up with that monthly budget. It\u2019s how you\u2019ll truly take control of your finances.\n <\/p>\n

    Do this in EveryDollar by tapping the Transactions icon, then the plus button. You can add all your transaction info and select the right budget line. Track as you make a purchase, once a day, once a week, or whatever rhythm keeps you from forgetting!\n <\/p>\n

    Budget Step 5: Create a New Budget Each Month<\/h2>\n

    Budgeting isn\u2019t a one-and-done situation. It\u2019s more of a lather, rinse and repeat. Here are two of the biggest takeaways you need to know about step four.\n <\/p>\n

    Budget every month, before the month starts.<\/h3>\n

    Why? Because thinking ahead is how you get ahead in life and with money.\n <\/p>\n

    With EveryDollar, it\u2019s easy. You just copy the previous month over and tweak what you need to.\n <\/p>\n

    \"Start\n <\/p>\n

    Don\u2019t forget about month-specific expenses.<\/h3>\n

    But wait, what does \u201ctweak\u201d mean when you create a monthly budget? Well, after you copy over the previous month\u2019s budget, get out your social calendar. Is it your BFF\u2019s birthday? You\u2019ll need a spot in the budget for that present.\n <\/p>\n

    Then think about other needs coming this month. Does your car need an oil change? Do the kids need seasonal clothing because the weather\u2019s changing and they just keep growing? (Outgrowing their clothes is one thing kids do best.)\n <\/p>\n

    You\u2019ll probably miss something because you can\u2019t see the future, after all. But you can plan what\u00a0you know<\/em>\u00a0is coming and have a miscellaneous line for any surprises.\n <\/p>\n

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