Welcome to Budgetwise!

The Budgetwise software aims to be as easy-to-use as possible, but before we start setting up our budget, there are a few important things to keep in mind so that you can budget successfully:

  • Only budget the money you currently have. This means not accounting for that paycheck you're receiving in two weeks until you actually have it sitting in your bank account.
  • Once your budget is set up, check your category buckets before using any money..
  • Your budget should not be set in stone - feel free to move money around as needed, if you realize something needs to change! 

1. Set Up Your Budget Categories

To get started, click "Add Category" in the Budget screen and give your category a name. Press ENTER or click out of the field to save.

Once you've named your category, hover over the row to find the "Add Subcategory" button, and click it to add a new subcategory. 

As with categories, enter a name and press ENTER  or click out of the field to save. Repeat this process until you feel you've created enough categories and subcategories to cover all your needs.

2. Add Your Accounts

Now that you've outlined your budget, click on the "Add New Account" button in the sidebar to create an account. Fill out the form, and save when complete. In the Account screen you will see only a single transaction at first, which is your starting balance. It's time to start assigning those dollars to the budget.

3. Budget Down to Zero

Going back to the Budget screen, start entering however many dollars you'd like to assign to each subcategory in the "Budgeted" column. Remember to only budget the money you have right now! Once you've entirely allocated your money and have $0 left to budget, congratulations! You've created your first budget, and have given every single dollar a purpose.

4. Add and Categorize Transactions

Get into the habit of checking your budget before making purchases to make sure the appropriate category can cover it.

To add a transaction,  click on "Add Transaction" in the Account page. By default, the transaction will have today's date but you can edit as needed. Fill out the rest of the fields, and enter the amount in either the INFLOW  ( money coming in) or OUTFLOW  (money going out) columns. In the CATEGORY  column, choose which category and subcategory the money should be deducted from.

Once you are ready to save it, click the SAVE  button and repeat the process if you need to add more transactions.

And that's it! Anytime you earn money, repeat Step 3, and anytime you make a new transaction just repeat Step 4, adjusting your categories and budgeted 

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