Budgeting is an essential financial tool that helps you create an achievable spending plan for money.
Your budget ensures that you will always have enough money for the things you need, and for the things that are important to you. Following a budget or spending plan will also help keep you out of debt, or help you to clear any existing debt.
We provide you with the tools to budget against categories such as restaurant, clothes/shoes, insurance, education, travel spend etc. This is essential to track how much you are spending so that you can plan on where you want your money to go.
We have a new 'My Budgets' insight on your dashboard: add budget limits against categories to track your spend and create savings opportunities.
To set your budget categories follow these steps:
Step 1: Scroll through your dashboard to 'My Budgets' and select the (View Budget) button
Step 2: Press the 'Add a Budget' button
Step 3: Kick things off by selecting a category to budget, you can select a proposed category or 'Show all Categories' and select the one you want to track
Step 4: Review your 'Last Month' and 'Average' spend in this budget and decide what an achievable budget would be, remember you're working towards a goal here so be realistic
Step 5: Save, once you press the save button you will be taken back to the Budget screen where you can review and update all your budgets
We hope you enjoy this new feature!