The Financial Roadmap is included with EveryDollar Premium. Try Premium free for 14 days to start using it today: Start a 14-Day Free Trial
How Long Does it Take to Get Started?
The EveryDollar team timed it: it takes 13 minutes.
Why is the Roadmap Showing Steps Were Completed this Month when they were Completed a While Ago?
EveryDollar doesn't have a time machine (yet), so there isn't a way to set a past date.
When you start using the feature, the first date that will appear is the date you plug in your numbers. If you’ve already completed some Baby Steps, they’ll all appear on that starting date. From there, your progress will be recorded in the correct month as you move forward.
How is Net Worth Calculated?
Fancy math.
EveryDollar takes all of the numbers you give us and run them through the Baby Steps. We take into account the cash in your emergency fund, the value of your home, your retirement balances, and how much you plan to put toward your goals each month. Then we adjust for inflation and voilà! You can see your net worth without having to lift a pencil.
Learn about the Baby Steps here: The 7 Baby Steps.
Does the Net Worth Include the Current Value of My Real Estate and Retirement Account Balances?
Sure does!
EveryDollar takes into account your outstanding mortgage balance and equity (how much of your home you own), plus what you have saved for retirement so far, emergency fund balances, and paid-for properties.
What Does Margin Mean? How is Margin Applied to each Baby Step?
The margin amount is how much you can contribute toward your current Baby Step after paying all of your expenses. You can update and test this number to see what contributing more or less can do for your progress.
How Does the Roadmap Function if I have Outstanding Debts?
If you’re in Baby Step 2, paying off your debt using the debt snowball method, that counts negatively toward your net worth since it’s money you owe. On your chart, you should see your projected debt-free date, and your net worth will start to go up after you’ve paid off all of your debts.
Learn about Baby Step 2 here: Baby Step 2: Pay Off All Debt (Except the House) Using the Debt Snowball.
How Does the Roadmap Function if I don't have Outstanding Debts?
If you’re debt-free, then you’re ready to start building wealth!
Save up your fully funded emergency fund (Baby Step 3) of 3–6 months of expenses next, then start saving for retirement, putting money in your children’s college fund, and paying off your house early. You’ll see all of those milestones on your projected roadmap.
Learn about Baby Step 3 here: Baby Step 3: Save 3–6 Months of Expenses in a Fully Funded Emergency Fund.
Next Steps
Now that you've learned more about how the Roadmap functions, go ahead and get yours set up!
Read more about the Roadmap here: Financial Roadmap.