Introducing EOD Basic 3.0: Made for Newbies, but Perfect for Everyone

The day has finally come!

HERE–> EOD Basic 3.0 is RIGHT HERE!! <–HERE

This one is lighter than the deluxe version (still to come), so I called it EOD Basic. I created it with newbies in mind with a step-by-step process to help you from beginning to end.

I am confident that you will love this version.

With 2.0, the first reaction I usually got when showing it was:

“ohhhh…ummm…yeeaaahhh, where…do…I…begin?

In their very best Bill Lumberg impression.

2.0 was great and certainly comprehensive enough for the nerd balls like myself, but I have to admit at first glance, it was like trying to walk as soon as you are born.

Babies take baby steps until they are walking like a pro, and that’s exactly how you should view learning how to budget. It takes time to learn, but before long, you’ll be doing it like a pro!

EOD Deluxe Budget 2.0 ROCKED, so don’t think I won’t be releasing EOD Deluxe Budget 3.0 with lots of new features! Because I WILL! 🙂

I am calling this the Beta version since I know there will be something I missed, but I tried to work out all the snags late into the night. If you find something, email me so I can correct it or make something more clear. Just contact me at budgethelp@enemyofdebt.com.

Budget Basics Step-by-Step (Tab One)

Step One – This is where you enter your income for the month.

You’ll notice I have 6 weeks set up for income. No there’s not six weeks in a month but for people that budget based on calendar week I had to do it this way.

In October, starting the week on Sunday there are 6 different weeks in the month. The first and the last have one and two days. for example, if you made money on the1st or 2nd of October, then that income would count for week one. The same goes for October 31st—the sixth week in the month. It’s the only day of that week, but if you made money on that day, that’s where it would go. (if that’s how you want to, but it’s not necessary to use this budget.)

In 2.0, I only had room for 5 weeks and got a few emails about implementing a sixth week. To be honest I didn’t understand why until I started the Manage Your Money challenge where Pocketsmith introduced me to calendar-based budgeting. Not only did I like it, I decided to merge the zero-based and calendar-based budget methods together. I personally think that visualizing the month helps your mind see what needs to be done and by when. A date is just a date, but once you connect that date to a day, it makes all the difference in the world. (for me at least.)

It’s the little things. 🙂

Step Two – Create a bill list.

This is something my wife and I have done for years. This helps us have an updated list of all our bills and when they’re due. This is where the calendar-based budgeting style comes in handy for me. I update this list each and every month as things get knocked off or added. Once you have the list done, updating it takes mere minutes. VISUALIZE when things are due! 🙂

Step Three – List irregular expenses.

It has been my budgeting experience to forget about something important from time to time. This is what kills most peoples desire to budget, because it convinces them it just doesn’t work.

No…what doesn’t work is not budgeting at all because you forgot something. The solution? Create a list of things up to a year in advance, and make a note of the date it is due or when you need the money available. This list has been a life saver for us, as long as you don’t forget to do it, I think it can help you too! 😉

Step Four – This is where you tell EVERY dollar where to be spent.

This is your financial blueprint for your money and your future. Get to know it. Look at it frequently. Read the Total Money Makeover with it. Sleep with it. Take it to work. Just get to know it intimately. (That kind of sounded like a Mattress Discounters commercial didn’t it?)

Seriously though, this is important. If you have a plan, you will be headed where you want to go. Knowing where your money is going is crucial to adjusting your financial plan in order to accomplish each of your goals. Without it, you’re just kind of floating along, never really sure of where you are or where you are headed.

KNOW where you are going!

Step Five – Tell each paycheck what bills it will be paying for that week. (optional)

Of all the special emails I received about version 2.0, a majority of them were so happy to have this available on the same worksheet. I love using the allocated spending plan, and like Dave Ramsey points out when talking about it, most of us use it already, even if only in our heads. I have found that having it somewhere other than my forgetful brain, makes for a much easier budget experience. Give it a shot, but I would recommend at least using it for a month or two before you stop using it. It took me about that long to start liking it.

Your Budget Overview (Tab Two)

I created this for motivational purposes, because I totally believe in having visual aids to help me visualize. 🙂

This form can be printed and takes up only one piece of paper.

The top portion of this worksheet has an overview of your budget — income and expense totals according to category. This snap shot can be handy to have on your fridge.

Not only does it provide a snap shot, it also includes a section for you to list your financial goals out, one by one. You list each goal, the day you want to reach that goal, and  there’s also a place to mark it DONE! (they don’t have to be done in order though.)

One of the greatest things is when you accomplish a goal and mark it off! It gives you a much needed motivational boost and keeps you productive. I think what’s more important than accomplishing your goals, is celebrating your milestones along the way. When I say celebrate I don’t mean taking a 5 star luxury vacation cruise to the Bahamas — save that for celebrating your debt freedom. But I don’t mean a simple played out high five either. Make a big deal out of successfully achieving your financial goals. Take your spouse out for a nice dinner, or a play, or anything better than a high five. 🙂 Just celebrate!

My hopes are that this budget worksheet will inspire and encourage you to start a budget. Like it? Hate it? I would love to hear from you!

Note: Be sure to notice the comments marked by a little red triangle. These comments go into more detail about specifics concerning your budget. How to do that, why you want to do that, and anything that I thought would be helpful to know. Don’t know what to do? Look for the red triangle. If you don’t see one, email me at budgethelp@enemyofdebt.com, and let me know how I can serve you.

UPDATE: If you have Microsoft Excel 97-2003 download this version: EOD Basic 3.0 (Excel 97-2003)

Be sure to understand that some functionality may be lost between versions. If you have any problems let me know so I can try to resolve them.