Manage Your Budget from Your Phone

Yesterday we introduced you to envelope budgeting, a simple budgeting technic that entails dividing your expenses into categories and assigning each category an envelope that will be topped up with a particular amount of money. You then limit your expenditure; on the different categories, based on the amount you have left each envelope.

Click here to read more about envelope budgeting.

Forget that, they now have an app.

Easy Envelope Budgeting Aid (EEBA) is a tool designed to help you be accountable to budget limits without the hassle of keeping actual cash separated. You record your spending at point of sale and EEBA will make it easy to record and watch your spending in each category. You will never forget a transaction again.

How EEBA works

With EEBA your budgeting is done from the web, mobile web or Android device, with or without internet connection. All your entered transactions are synced up automatically.

From your Android device, you can download the app from Google Play Store, start it up and create a new account for your household.

Antonio and his wife Abscondita use EEBA to manage their household budget. Here’s how they use it:

• Antonio downloaded the app and set up the household budget by giving each envelope, in the app, a name and a budget amount. For example KES 5,000 for shopping, KES 10,000 for entertainment, etc.
• Antonio then chooses the household user name and password. It will be a user name that Antonio and Abscondita will use to log in on their phones and access EEBA website.

As it is the norm, envelope budgeting technique entails giving your money a job to do. What you have earned is assigned to an envelope at the beginning of the month and then spending out of them.

Back to Antonio and Abscondita:

• Once Antonio has filled up their required envelopes in EEBA with specified amount of money ideal for each category, EEBA will show him the status of each envelope.
• Once he completes setting up the account, he informed Abscondita and shares with her the user name and password.
• Later in the month when Abscondita is out shopping. She access EEBA through her phone, either through the app or mobile web, and see’s the amount remaining in each envelope. She then can decide the amount she will use in her shopping trip and record her expenses for that shopping trip on EEBA at the point of sell; this can be at the supermarket.

• Later on Antonio can access the app and see Absconditas’ expenditure for her shopping trip updated in real time.

With EEBA, transactions are automatically synced between phones and the EEBA website so that there is no need to back up your expenses.

EEBA also comes up with a set of reports that shows how you have been spending, who you have been paying as well as statement of your transactions.

EEBA is safe and secure. No bank log in is required.

EEBA is Ad free, spam free and has a forever free plan. Try it out and see how your household budgeting will be transformed for the better.