Often, we hear from users who are curious about how to review and update their budgets, particularly around a New Year or New Financial Year. This guide shares some tips and tricks if this is something you are looking for!
Reviewing your budgets
First, it's a good idea to check each of your current budgets.
- Head to the Budget page.
- Make sure that Use total budget summary date range for budget amount analysis is unticked, and then select 'Expand all categories':
- The current recurring budget for each category will show in the column on the right. Use this figure to check if the budget needs an update.
Tip
You can also use the Trends page to drill down into individual budgets and see whether you're over- or underspending. See Using the Trends page for more on this!
Updating a category budget
If you notice that a category's budget is no longer correct, we recommend making changes to that budget via the Calendar.
- Head to the Calendar
- Find the date/month when you'd like the change to start, select that existing budget, and make any desired changes.
- When prompted, make sure to select 'This and future budget events from [date] forward'.
You can find more on changing budgets here: Editing a Budget on the Calendar page.
For more details about the different options for applying changes, see: Options for applying changes to a repeating budget.
Archiving no longer needed categories and budgets
If you find there are categories you no longer wish to include in your budget, add an end date for the budget and then 'archive' the category.
To learn how to add an end date for a budget, see: Adding an 'end date' for a budget
For all the details on archiving no longer used categories, see: 'Archive' old categories