This page gives you a basic overview of what budgeting is and how budgets are structured.
Before setting up your Budgets
What is a budget?
You’ve mastered transactions and tagging. Now for the cherry on top.
Budgeting is the tool that allows you to track your spending against a set budget based on how you have categorised your spends.
How can the Budget tool help?
By creating a/multiple budget(s), you can easily track how much you have left to spend for each tagging category you have previously decided and set up.
For example, on a monthly basis you would like to keep spends on 'Eating Out' within £200, and 'Going Out' within £100. You can set a budget for each. Each time a transaction tagged with 'Eating Out' / 'Going Out' comes through, it will be automatically captured on your budgets and you can quickly see how much you have left for the month.
The budget tool essentially lets you conveniently keep an eye on whether you are overspending for the period you are budgeting. With more awareness, you will gain a better control over your finances.