GoodBudget Beginner's TUTORIAL and Review! // How to Input Your Income, Expenses, and Transactions

Рет қаралды 18,129

Күн бұрын

In this video, we go through a beginner’s guide to setting up a budget in GoodBudget. In it, we go through budgeting out expenses, creating and tracking transactions, adding accounts like for credit cards and loans, adjusting income and filled envelopes, as well as the reports provided by the app. This video really is part tutorial, part review.
One of the things I really like about GoodBudget is the fact that it allows you to create a budget that is more customized for you over what other apps may provide. Most apps like EveryDollar, YNAB (You Need a Budget), Mint, and Fudget all allow you to create budgets on a month to month basis. GoodBudget allows you to do it month to month, but also week to week or biweekly if that is a better format for you!
This feature can be a pro and a con in my opinion. I like the power behind that, but it also makes it confusing if you are a new budgeter and you’re trying to figure out how to handle monthly expenses and adjusting those expenses when you use a budget other than a monthly format. But it’s an option and we budgeters like options.
Overall, Goodbudget really is a simple way to create your first budget and track your expenses. It’s not the simplest of the apps I’ve reviewed but it is good, and the most important thing is getting started on budgeting.
I really like breaking down budgeting apps and showing you all what I like and dislike about the different budget tools. So here are some other reviews I’ve done thus far.
EveryDollar vs. YNAB vs. Mint: • Best Budget Apps in 20...
EveryDollar Tutorial: • How to Make Your First...
YNAB Tutorial: • How to Make Your First...
Mint Tutorial: • How to Make Your First...
Fudget Tutorial: • Fudget: The SIMPLEST B...
Timestamps:
0:00 - Intro
0:30 - Setting Up Expenses and Filling Envelopes
4:41 - Entering Transactions
5:50 - Creating Accounts
6:28 - Adjusting Envelopes
7:19 - Income and Expense Reports
7:35 - Pros and Cons of GoodBudget
#goodbudget #budgeting #budgetingforbeginners
📒 Notes and Resources 📒
⚡️OTHER VIDEOS THAT YOU MAY LIKE⚡️
🎬7 Reasons You Need a Budget in 2021: • 7 COMPELLING Reasons Y...
🎬6 Tips for Keeping a Successful Budget: • 6 Practical Tips for K...
🎬How to Make Your First Budget Ever: • How to Make Your First...
🎬Dave Ramsey's Baby Steps of Personal Finance: • How do Dave Ramsey's 7...
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What's one way to improve your finances today? Get started on a budget! There is so much freedom in a budget which makes me excited to teach about it. Financial education is the beginning of making your financial goals come to life. But action is what will actually make them happen. Congratulations on taking the first step!
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Пікірлер: 59

@CalebBaleFinance 2 жыл бұрын

Watch the comparison between YNAB, Everydollar, and Mint next! kzfaq.info/get/bejne/i9FhrdCcxtC7cqs.html

@JoshuaBaldwinOfficial 2 жыл бұрын

WOW!! This is some next-level personal finance advice. I like that the information is a lot more clear and easy to understand than most other creators. Subscribe to this dude!

@CalebBaleFinance 2 жыл бұрын

Thanks man!

@RangersTown Жыл бұрын

Something about a budget app asking us to use our budget money to use a budget app makes me laugh lol appreciate the walk through! I’ll deff be giving this one a try with my wife

@CalebBaleFinance Жыл бұрын

Yeah a little ironic but I suppose it still takes money to build an app haha. Yes, let me know if you all give it a try and how you like it! I don't know if you've seen my other budget apps video but maybe this can help you make a decision about an app too. kzfaq.info/get/bejne/n56iq8aAlbqnZas.html

@BudgetsWithBess 2 жыл бұрын

This is great! It’s another great way that people can have to budget. Even within one community there are so many different ways to do budgeting and an envelope system!

@CalebBaleFinance 2 жыл бұрын

Thanks Bessie! I agree there are so many ways to budget well. What I’d really like to do is collaborate with you on a video where I have you walk us through how you handle the envelope system if you’re interested!

@disciplinedfx6794 2 жыл бұрын

Thanks, Caleb, this was insightful and useful for helping me narrow down my choices for selecting a budgeting app tool.

@CalebBaleFinance 2 жыл бұрын

No problem Andrew! If it helps any more, I've got a video coming out on Thursday or Friday this week comparing the 8 budget apps I've reviewed here on the channel. I talk about their strengths, weaknesses and costs. I hope that's even more insightful in your search for a good budget app!

@WealthBuildersInvest 2 жыл бұрын

Whooo! Videos are fire, watching now 😎

@CalebBaleFinance 2 жыл бұрын

Thanks boss!

@remmiellis 2 жыл бұрын

Wow, this is a great tool! Something like this to keep you organized and aware of all sources

@CalebBaleFinance 2 жыл бұрын

Yes sir! Absolutely agree. Thanks for dropping by, Remmi!

@CreativeCashflow1 2 жыл бұрын

Great video man. Never heard of it but it can definitely be useful for me. New sub!

@CalebBaleFinance 2 жыл бұрын

Thank you sir! I appreciate the support. I was impressed with how thorough you were in your video I watched.

@hannahnaumann6945 10 ай бұрын

Im really glad i found this app - exactly what i need. Thanks for going thru the app so i knew exactly what i was getting before getting it!

@CalebBaleFinance 10 ай бұрын

Absolutely! Happy to help!

@DimiDezOfficial Жыл бұрын

Great video very helpful

@CalebBaleFinance Жыл бұрын

Happy to help!

@urvashimishra3837 4 ай бұрын

Hi! Thank you for the information. How to use the sweep option?

@CalebBaleFinance 4 ай бұрын

Great question! Honestly, it's been so long since I reviewed this, I'm not very familiar. But I found this resource so hopefully it helps! goodbudget.com/blog/2012/01/faq-what-is-sweep/

@daniellemarieclarke2965 3 ай бұрын

Super helpful, thank you! How do I delete an old account?

@CalebBaleFinance 3 ай бұрын

Good question! I'm guessing it's just in the account or profile section. Sorry for the late response!

@StockDoctortrade 2 жыл бұрын

Thanks for the info

@CalebBaleFinance 2 жыл бұрын

My pleasure!

@DebtFreeDad 2 жыл бұрын

Looks user friendly. Kinda has an everydollar OS. The debt progress is a plus though.

@CalebBaleFinance 2 жыл бұрын

It does at that though I think Everydollar still has an edge on it in terms of simplicity. I like that debt progress report quite a bit

@user-cj6pm8tm5b Ай бұрын

Great video Somehow I didn't like the app It is confusing and complicated Do you know any other application which is for free that manages budget better and less confusing?

@becci8099 Жыл бұрын

Does the app allow you to group expenses, i.e. petrol, insurance, maintenance should all be their own category. Though it would be nice which amounts are spend on transportation over all

@CalebBaleFinance Жыл бұрын

Honestly, it doesn't seem like it splits up categories that way which is too bad. I agree, that would be much easier to tell how much you were spending in transportation overall. Thanks for watching, Becci!

@cierraslowsdown 2 жыл бұрын

I thought you chose the twice a month option? It says monthly when you cut to the newest screen after you break down how to do twice a month. I’m looking for a creator to talk about how to do twice a month with bills that are due separate parts of the month (rent on the first, a separate bill toward the end of the month). How do you fill the envelopes when you’re budgeting and seeing what’s left over each paycheck, not monthly?

@CalebBaleFinance 2 жыл бұрын

Hey Cierra! I'm so sorry, that was my mistake. It's going to take me a bit to check back on this for you but I'll do my best and send you another response!

@rainnnnn28 11 ай бұрын

Hi have you figured out how to do this??

@mishalalfaisal Жыл бұрын

what app reads your sms and puts it in a transaction ?

@CalebBaleFinance Жыл бұрын

Oh geez, I wish I knew. Sorry about that!

@TheSethcast Жыл бұрын

Is there an app like this that uses percentages instead of raw dollar amounts? I make sometimes wildly different amounts depending on various factors but I still want to always give 10% of my income to charity, 10% contributing to emergency fund, etc.

@CalebBaleFinance Жыл бұрын

Oooooh that's a good question. I don't think I've run across any to be honest. Most use raw dollar amounts. I understand what you're saying though. Our income can be a bit sporadic at times as well so most of the time, I set aside the percentage of the max income I think we'll make that month and then I lower it to 10% (or whatever percentage) of the final income at the end of the month. Not a perfect solution, but it works for us.

@TheSethcast Жыл бұрын

@@CalebBaleFinance I appreciate the thoughtful reply! I think I'll just have to do this manually. No colorful apps to do it for me, at least yet.

@hollywoodII2 11 ай бұрын

I am retired I receive income from 3 different places and they are all different. Is there a way to account for that

@CalebBaleFinance 11 ай бұрын

Personally I would just put in the minimum from each job that you anticipate to receive and put it in as different lines in income. If it's variable income, check out this video I made. kzfaq.info/get/bejne/gcl8oruQxp2tl4k.html Let me know if I can help anymore

@wdeemarwdeemar8739 2 жыл бұрын

I love chocolate milk too. Get it every weak.

@CalebBaleFinance 2 жыл бұрын

Great to meet a fellow chocolate milk lover!

@ShantupWOG Күн бұрын

But it is all manual?

@40andBroke 2 жыл бұрын

I dont budget for chocolate milk. I dont need those types of constraints! Haha. I just take from my mortgage envelope. Houses come and go, but chocolate milk is forever!

@CalebBaleFinance 2 жыл бұрын

I hear that. You're a man with conviction and I like that! Forget mortgages lol

@40andBroke 2 жыл бұрын

(You forgot to insert the Budget Card link at 3:30)

@CalebBaleFinance 2 жыл бұрын

Thank you sir! I did forget it but just got it in thanks to you.

@abdullohmahamatazimov6737 13 күн бұрын

Brat xich nima chunmadim o’zbekcha gapirdizku

@CalebBaleFinance 12 күн бұрын

@ItsKeeganForealDough Жыл бұрын

Thank you bro

@CalebBaleFinance Жыл бұрын

My pleasure, Ishan!

@8kris8 Жыл бұрын

A little bit difficult 😢

@CalebBaleFinance Жыл бұрын

Yeah, but there are many other apps out there! Check this video out that I made. kzfaq.info/get/bejne/n56iq8aAlbqnZas.html

@julzylil Жыл бұрын

Why wouldn’t the app just connect to your bank account so you don’t have to put it in?

@CalebBaleFinance Жыл бұрын

I'm guessing because it takes a lot of security measures within coding to ensure users' banking data can't get hacked. Otherwise, I'm sure they'd add it!