Creating a budget should be among the first things you do in MoneyCoach. Budgets give your spending a limit, then update automatically as you add expenses in the tracked categories.
Step-by-step guide
- Open Budgets from the tab bar or sidebar.
- Tap the "+" button.
- If you are in Categories view, choose the category you want to budget for.
- Enter the monthly Limit.
- If the category has subcategories, choose which subcategories should have their own limits.
- Choose whether Rollover should be enabled for that category budget.
- Tap Add.
Classic budgets
MoneyCoach also supports Classic budgets. Open the More menu in Budgets, switch the view to Classic, then tap "+". In the New Budget screen you can enter:
- The budget name
- An emoji
- The amount
- The budget interval
- The start date
- An end date for one-time budgets
- The categories and subcategories this budget should track
Tap Save when you are done.
How budgets update
Budgets track expense categories. When you add an expense in a category that belongs to a budget, MoneyCoach counts that transaction toward the budget for the selected month.
Category Budgets and advanced budget actions are Premium features. Classic budgets are still available, but free users can only create budgets up to their free budget limit.
