Observing budgets

Budgets enable you to compare how much money you spend and how much money you think you should spend. It is possible to set a budget limit for each expense group and sub-group. All budgets for which you have set a limit are displayed on the budget page. Each budget line shows the expenses made in the chosen time period. The Financial Planner notifies you on the overview of finances page if you are approaching your budget limit or have exceeded it.

Create budgets and observe them

You can create budgets for each expense group and sub-group. It is reasonable to create budgets for all expense groups in which you spend money. You can specify a monthly limit for each budget can which shows the limit of how much you wish to spend. For example, if you think you could spend maximum 100 euros per month on food, create a 100-euro budget in the respective expense group.

Visual overview of budgets

Each budget line shows the expenses made in the chosen time period. If your expenses are below 80% of the set budget limit, the budget line is green. If you start to approach the limit, the budget is displayed on a yellow background. If you have exceeded the limit, the budget is red. The Financial Planner notifies you on the overview of finances page if you are approaching your budget limit or have exceeded it.

Additional options

  • Sub-group budgets
    It is possible to create budgets for sub-groups within an expense group. This enables you to observe your expenses even more closely. For example, if you wish to keep an eye on your expenses on dining out, create a budget for the sub-group “Café, restaurant, bar, dining out”. The total limit of budgets created for the sub-groups of an expense group cannot exceed the limit of that expense group.
  • Summary of budgets
    The summary of your budgets is on the right side of the page. It shows the total amount of budgets, how many budgets you have altogether, how many budgets have been exceeded, how many require attention (i.e. are approaching the limit) and which periods have no transactions. If your total expenses exceed the amount of your budget limit, the exceeded amount is shown separately. The total amount of budget limits should be smaller than your income in order to ensure sustainable planning.
  • Adjust limits according to your needs
    If you have set a budget for an expense group and you think it is too big or small, you can change the limit very easily. In order to change the limit you must choose a month as the time period. If you change the limit, you will get a new overview of the expenses made recently and also earlier.
  • View what you have spent your money on
    By clicking the button “View transactions” at the budget, you can get an overview of all transactions made in this expense group within the chosen time period. You can get a similar overview on the transactions page by choosing the group you wish.