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What’s the Spendometer, and how does it work?

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The Spendometer is at the top of your Budget tab. 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.

 For the current month:

The Spendometer shows you (1) how much money you’ve spent so far this month, (2) how much you either usually spend or budgeted to spend, and – based on that – (3) how much it looks like you will probably spend by the end of the month.

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1. Spent so far: this is the coloured part of the Spendometer. Each colour represents a different spending group.

2. Average spending OR budgeted spending: Average spending is taken from your averages across all categories, and is used if you haven’t set any budget amounts. If you have set a budget amount for any category or categories, then you will be shown “budgeted spending”, which is the total of all the budget and average amounts in your Budget tab. The grey circle on the Spendometer shows represents that amount.

3. Forecast spending: This is what the Spendometer predicts you’ll spend by the end of the month. It’s represented by the black circle on your Spendometer.

With these amounts, the Spendometer shows you if you’re spending faster than you want to, or slower than you expected to, and helps you decide to adjust your spending if you want or need to.

For previous months:

The Spendometer shows you how much you actually spent and how much you were usually spending or budgeted to spend in that particular month.

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1. You spent: this is what you actually ended up spending in that month (also represented by the colours of the spending groups).

2. Average spending OR budgeted spending: This is what your average or budgeted spending was for that month, and is shown by the grey circle on the Spendometer.

So, if the coloured part of the Spendometer is to the left of the grey circle, you spent less than normal or less than you planned to. If it’s further on the Spendometer than the grey circle, you spent more.

Other:

For both your current and previous months, you can hover over any of the coloured sections of the Spendometer to view your spending for that Spending Group.

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