How to Setup Your First Budget
Let get started with Balanced by creating your first budget.
- You create a budget for a specific month. Let's do February 2019 for example.
- Go to budgets and click Add Budget.
- Specify the month (February 2019).
- Now we'll add items to the budget. Each of these items is a different thing that either adds money to your account or takes money away from your account.
- Let's try adding Mortgage as a Budget Item.
- Enter Mortgage in the box where it says Name in grey. This will be the label for this budget item.
- Now let's choose the Category of Rent/Mortgage.
- Next, we'll put in the amount of the Mortgage. Enter -2000 in the box. We use a negative number because it takes money out of your account. We would use a positive number for things like paychecks or tax returns.
- Finally, we can click the due date box to enter the date it is due. This will also add the item to your calendar.
- Repeat these steps for the remainder of the things you are budgeting for in February (you can add new rows by clicking Add a Row) and then click Save Budget.
- Congratulations, you're on your way to taking back the reins of your budget!
Ben Miller
Feb 16, 2019