BudgetSketch from Dewayne Greenwood on Vimeo.
Ready to get a handle on where your money will go, rather than on where it's already went? Then Dewayne Greenwood and Bill Barnett of BudgetSketch have the innovation for you. An online budgeting program that maps out where your money will go as it comes in, instead of simply showing you where it's been spent.
Greenwood's invention was born out of necessity. "My business partner and I have had our fair share of financial challenges in the past, all relating to the misunderstanding of how to effectively manage our finances," says Greenwood.
The widely accepted view of managing personal finance concentrates on tracking expenses and balancing checkbooks. Although traditional, Greenwood and Barnett saw this as reactive in nature. "It's good to know you spent $700 on groceries last month, but what bearing does that have on what you will spend next month?" asks Greenwood.
Most schools, and surprisingly, many families simply do not teach the basics of personal finance. Little wonder then why many of us are mystified when it comes to understanding where all our money goes each month. Greenwood and Barnett emphasize that effective budgeting is an intentional plan.
"At its core, we developed BudgetSketch as a response to a system that compels us to spend it as fast as we make it, and to ignore sound planning in pursuit of the quick buzz," says Greenwood.
Making use of the zero-balance budget method, the system "sketches" out a budget plan a month or two in advance for the user taking into consideration the user's financial goals.
To learn more about this innovation, visit
Cincinnati Innovates or
http://www.budgetsketch.com/
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