How to set up or edit your Budget?
Budgeting is an essential financial tool that helps you create an achievable spending plan for money.
Your budget ensures that you will always have enough money for the things you need, and for the things that are important to you. Following a budget or spending plan will also help keep you out of debt, or help you to clear any existing debt.
We provide you with the tools to budget against categories such as restaurant, clothes/shoes, insurance, education, travel spend etc. This is essential to track how much you are spending so that you can plan on where you want your money to go.
We have a 'My Budgets' insight on your dashboard: add budget limits against categories to track your spend and create savings opportunities.
To set up a new budget follow these steps:
- From the dashboard, scroll down to 'My Budgets'
- Tap ‘Create Budget’ then ‘Setup Budget’
- Select your preferred budget cycle *
- Select a category to set a budget for, e.g. ‘Travel’
- Enter your budget amount, and click Save
To edit an existing budget follow these steps:
- From the dashboard, scroll down to ‘My Budgets’
- Tap ‘View Budgets’
- To update the budget cycle for all of your budgets, select the Settings cog and update the Cycle *
- To update the Budget goal amount, select the Budget and click ‘Edit’ in the top right corner, then change the amount and click Save
* We recommend you align your budget period to your Pay Cycle, this cycle can be Weekly, Fortnightly or Monthly. Weekly and Fortnightly budgets are set to days of the week, so you will need to set this in the first day of the week you need the cycle to commence. As you cannot select a date, you may need to wait until the cycle aligns with your calendar to complete this step.
https://www.beyondbank.com.au/need-help/how-to-set-up-or-edit-your-budget