Budgeting Overview

Why Budget with BeDebtFree?

Budgeting is one of the most powerful tools for getting out of debt faster. When you know exactly where your money goes each month, you can find extra funds to put toward your debt payoff plan.

BeDebtFree offers two budgeting modes to fit your style: Simple Budgeting for a quick overview, and Envelope Budgeting for detailed category tracking.

Choosing Your Budgeting Mode

Simple Budgeting

Best for: People who want a straightforward income vs. expenses view without detailed categorization.

• Track total income and total expenses

• See your available balance at a glance

• Quick to set up and maintain

• Perfect for beginners or those with simple finances

Envelope Budgeting

Best for: People who want detailed control over spending categories and the ability to roll over unused funds.

• Allocate money to specific spending categories

• Track spending against each category budget

• Roll over unused funds to the next month

• Ideal for detailed financial planning

Getting Started

1. Navigate to the Budget section from your dashboard

2. Choose your preferred budgeting mode (you can switch anytime)

3. Set up your income sources

4. Create your expense categories or track total expenses

5. Log transactions as you spend

Budgeting and Debt Payoff

Your budget directly impacts your debt payoff plan. Any surplus from your budget can be added as extra payments toward your debts. BeDebtFree automatically factors your budgeted debt payments into your payoff projections.

Pro tip: Review your budget weekly to stay on track and find opportunities to increase your debt payments.