My favorite is Rocket Money, which automatically syncs data from your financial accounts and has the cleanest dashboard of all the budgeting apps I’ve tested.
#DAVE RAMSEY BUDGET PLANNING WORKSHEET PRO#
Pro Tip: A more modern (and quicker) way to get the data would be to use one of the many free budgeting trackers. If you’re following along step-by-step, go ahead and complete that form now. This is the form you’ll use to insert the data into your allocated spending plan. There are two forms you’ll need in order to get started with an allocated spending plan. Step #1: Insert Your Pay Periods and Expenses You’ll be entering these numbers into two different forms. Step #1: Insert your pay periods and expenses into the allocated spending plan.
To follow an allocated spending plan, there are four steps you’ll need to follow: Four Steps to Implement the Dave Ramsey Allocated Spending Plan These are the two days when I pay myself from my company (and also set aside money for taxes). If you’re self-employed, or even have side hustle income, I’d suggest setting specific dates each month to withdraw funds from your freelancing/side hustle platform, or to pay yourself from your business bank account.Īs a personal example, I have calendar alerts set up for the 5th and 20th of each month. Allocated Spending Plan On an Irregular Incomeįor irregular income planning, Ramsey suggests basing your income on your lowest-paid month from the previous year. Once you have your pay periods figured out, your next goal is to budget your expenses for the month within each pay period (as explained below). If you get paid bi-weekly on Fridays, and your spouse is paid on specific days (the 1st and 15th of the month, for example), you would then have four or even five pay periods within each month.
In that case, your budgeting cycles would be something like:
Let’s say you’re paid bi-weekly on Fridays. This means you will no longer budget on a month-by-month basis (unless you get paid monthly, of course). What’s unique about Dave Ramsey’s allocated spending plan is that it allocates expenses based upon when you’re paid.
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