Quick Start for Newbies New Bees

Start easy.

I don't recommend you to start creating a bunch of envelopes for various expense categories. You might not need them, so don't complicate your life with HoneyMoney from the start :)

Begin with simply tracking all your transactions with a basic system of HoneyMoney, Reserves and Emergency Fund. You can add additional Envelopes later, when you feel like you really need them.

HoneyMoney is super flexible, so you can make a pretty complex system inside it if you want it. Your first priority is to build a habit of paying regular attention to your money. All the advanced stuff can be introduced later.

The best system is the one you can stick with. Tracking and planning finances is a simple and healthy habit, like brushing your teeth. It's just that nobody taught us how to do it when we were kids.

Here're some tips on what to do next:

1) Make sure that you entered all your accounts with their balances

At least those you use for everyday expenses: chequing, savings. What can wait: retirement accounts, pensions, etc.

2) Plan all your recurring incomes and expenses

Salary, monthly bills, groceries trips. Everything that is pretty simple to plan.

3) Check Reserves Forecast

If it says that there's not enough money in Reserves, then transfer the suggested amount from "HoneyMoney" envelope.

4) Start entering your transactions

You can enter them as they happen (for example, in the evening), or collect receipts and enter in batch every 2-3 days. You will find your preferred way with time.

5) Relax. You can do whatever you want if you track everything

It's true. You don't need to restrict yourself artificially. Give it some time.

HoneyMoney increases your awareness about your money habits. Being fully aware of your money naturally changes how you spend it.