This is week 4 of the series, Smartphone Apps That Make Life Easier.
This weeks’ app is one that helps you keep your finances in order. It is called EEBA: Easy Envelope Budget Aid. It is available on both the iPhone and Android phones. So what is EEBA? It is a virtual envelope system that allows you to allocate funds to different “envelopes” for different purposes. For example, you can have an envelope for groceries, one for gasoline, one for clothing, and so on. You can “deposit” money into each envelope, then record your transactions for each category and keep track of how much is left in each of your budget categories (envelopes).
Now, this may seem like many other apps – simply a ledger system. Why I specifically searched for EEBA is because you can sync the envelopes between multiple phones (up to 2 on the free plan, but more on paid subscriptions) and online. Why is this important? Because Chris, my husband, and I got so sick of forgetting to mention a purchase we had made to each other, and then finding out we didn’t have as much money as we thought we did because of it. This is the perfect way for us to be able to keep track, as long as we both consistently record our transactions (so far, so good!). We personally don’t enter all of our bills – those are set. We simply keep track of our household expenses, such as gasoline and groceries. This way I can use the debit card throughout the week for our groceries, without worrying about Chris pulling out that money for something he purchased. It helps us stay on the same page.
There are a ton of features between the different paid plans that aren’t available with the free version, but for what we need, the free plan works great! You can check out all the features on the website, as well as sign up for the free plan if you like.