The Budget screen shows you how your money moves. It lets you see the money coming into your accounts, and where the money leaving your accounts is going to.
It gathers information from your transactional accounts – that’s your cheque and savings accounts, credit and some store cards - on a month-to-month basis.
Your transactions are categorised (e.g. as “Groceries”, “Bank Charges and Fees”, “Pets” or around 40 other existing categories and any others you create yourself) so you can see how much you’re spending on what.
Your transactions are also put into a Spending Group, each of which represents a different approach to money and is assigned a specific colour, making it easier to visualise your spending behaviour:
Day-to-day (Blue): General, ad hoc spending, e.g. eating out, clothing.
Recurring (Yellow): Regular spending that occurs (in most cases) monthly, e.g. rent, insurance.
Exceptions (Orange): Usually unplanned expenditure, e.g. travel, purchase of large appliances, repairs.
Income (Green): Any incoming funds, e.g. salary, interest received.
Invest-save-repay (Purple): Any money being spent today that leads to a bigger balance in future, e.g. investment contributions.
Transfers (Grey): Money moving between accounts, e.g. transfer from a cheque account to credit card.
The default start date for Budget is the 1st of the month, which can be changed via the Settings menu.
Your Budget lets you view your spending in three ways: the Spendometer, Compare view, and Track view.
The Spendometer is at the top of your Spending Plan. It’s a snapshot of all your spending for the current month or for any previous month. Much like a car’s speedometer, it shows you how fast (or slowly) you’re spending at the moment, or spent in the past.
This view shows you what you spend on various things relative to each other. It lists categories from highest to lowest, based on your average spending.
Category bars display what you've earned and spent on each category. You can create custom compare views by using the filter options. If you'd like to quickly access the Compare view with a specific set of filters in future, you can save your current filters to your Visualisations tab for future use.
This view displays your spending by grouping categories into Spending Groups and lets you track your current spending against your average and/or planned spending.
To compare monthly spending on a particular category, select the relevant category to view its comparison graph.
You can track your spending in a category against its average, or against your own budget amount. Budget amounts are in bold.
Find out how to set your own budget amount here.