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Budgeting

At the beginning of every month, you need to create a new budget. Depending on allocation preferences, new budget form will be prepopulated with those categories and vaults.


Table of contents

  1. New budget page
  2. Creating a new budget
  3. Budgeting with insufficient income
  4. About budgets page
  5. Editing a budget
  6. Deleting a budget
  7. Adding funds to budget entry
  8. Withdrawing funds from budget entry
  9. Moving funds between budget entries

New budget page

New budget

  1. New budget details shows how much funds are you allocating for this budget, what portion of last month’s income is that amount, what portion of total reserve funds is that amount and what will be your last month’s cash flow after budget is created.
  2. Categories that will be included in your budget.
  3. Vaults to which funds will be added to.

Creating a new budget

  1. Visit budgets page. Select budgets
  2. Click on a “Create a budget” button. Click create budget button
  3. Select categories that you want to add to your budget and change their amounts, if needed. Select categories
  4. Select vaults that you want to fill and change their amounts, if needed. Select vaults
  5. Save your budget. Save budget

After budget is saved, amounts for categories will be allocated for your budget, and amounts for vaults will be transferred to vaults.


Budgeting with insufficient income

There are two cases that could happen at some point: first, you had no income last month to calculate your budget, and second, you had insufficient income last month to create your budget in full.

When you had no income last month, you can still create a new budget. When opened new budget page, you’ll be able to enter amounts manually or select hypothetical income from which percentages would be calculated. If you have set minimum budget amount limit, that amount will be used as hypothetical income.

If you had income that is too small for budget to be filled fully, categories and vaults with flat amounts will be always filled fully. If there are any funds left after that, funds will be filled for percentages, starting from essential categories.


About budgets page

Budgets

  1. Current balance shows your total budget balance.
  2. Budgeted expenses shows what percentage of your total expenses were budgeted. If percentage is less that 100%, you’ll see alert with amount that is needed to be withdrawn for percentage to increase. Keeping this number at 100% means you will never spend more that you intended.
  3. Category allocations shows categories in your budget. You can move funds between categories, withdraw them or add more funds. Keep in mind that adding funds will decrease budgeted expenses percentage while withdrawing will increase it.

Editing a budget

  1. Visit budgets page. Select budgets
  2. Click “Edit budget” button. Click edit budget
  3. Make your modifications. Funds will be added to budget automatically if entry amounts are increased. You can disable this by unchecking “Add funds automatically” checkbox.
  4. Click “Update budget” button to save changes.

Deleting a budget

When budget is deleted, all unused category funds will be transferred back to reserve, while vault funds will not change.

  1. Visit budgets page. Select budgets
  2. Click “Edit budget” button. Click edit budget
  3. In the top right corner click “Delete budget” button. Click delete budget

Adding funds to budget entry

When funds are added to budget entry, budgeted expenses percentage will decrease. To add funds:

  1. Visit budgets page. Select budgets
  2. Find an entry that you want to add funds to, click on a dropdown button next to the “Move funds” button and select “Add funds”. Select add funds
  3. Enter the amount and click “Add funds”. Add funds

Withdrawing funds from budget entry

When funds are withdrawn from a budget entry, budgeted expenses percentage will increase. To withdraw funds:

  1. Visit budgets page. Select budgets
  2. Find an entry that you want to withdraw funds from, click on a dropdown button next to the “Move funds” button and select “Withdraw funds”. Select withdraw funds
  3. Enter the amount and click “Withdraw funds”. Withdraw funds

If you enter negative number as amount, it will be converted to the desired remainder of the budget entry. For example, if budget entry has balance of 50.00 and you enter -15 as an amount, withdraw amount will be converted to 35.00 (so final budget entry balance would be 15.00).


Moving funds between budget entries

When funds are moved between budget entries, budgeted percentage will not change. To move funds:

  1. Visit budgets page. Select budgets
  2. Find an entry that you want to move funds from and click “Move funds” button. Select move funds
  3. Enter the amount, select destination entry and click “Move funds”. Move funds

As with withdrawing, you can do negative amount conversion.