How to create category budget?

Modified on Wed, 7 Aug at 7:49 AM

Notes:

Category budgets consider all expense transactions and refund transactions (income transactions marked as a refund for the specified expense category) only for the selected category.
Currently, category budgeting is only supported with monthly frequency.
If a monthly budget is not explicitly available, then the sum of all category budget amounts will automatically represent the monthly budget as the Category total budget.

Steps to create a recurring category budget:

Go to Dashboard > Budget

.

The budget screen will appear with BUDGETS, GOALS, and SUMMARY tabs.

Tap on the + icon in the upper right corner.

Choose the type of budget you wish to create:
- Personal Budget: Use this if you want to create your personal budget. (This is the only option in case you are not using the app in group mode)
- Group Budget: Choose this option if you want to do budgeting for a group/ family.

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The Create budget screen will appear, with tabs for BY CATEGORY, WEEKLY, and MONTHLY.

Select the BY CATEGORY tab.

Choose the category for which the budget needs to be set.

Enter the category budget amount.

Toggle on the rollover option if you want to carry forward any remaining budget to the next month. Learn more about How rollover budgeting is supported in TimelyBills?

Click on NEXT.

Review the category, budget amount, and starting month on the review screen.

Set a percentage alert for spending notifications within the app.

You can disable these alerts in the app settings. Learn more about How to disable/enable budget notifications in the TimelyBills app.

Click on the Create button.

Once successfully created, the budget will appear under the Expense tab on the budget list screen, as highlighted below.