Truebill offers super intuitive budgeting functionality to help you keep your expenses on target. Here's a quick overview of how to use it!
To start budgeting, simply tap the "Start Budgeting" button on the budgeting card in your dashboard.
Setting up your Income, Bills, and Savings Goal
Once you are in the Budget settings, Truebill will estimate your Income and Monthly bills. You can edit these amounts if they are inaccurate by tapping the "Pencil" icons.
Note: Payments to credit cards should NOT be included in your monthly bills because those transactions will already be counted as spend when they go on your card. For this reason, you should not use the budgeting tool as a cash management tool if you use credit cards.
Budgeting by Category
Once you have established your 'Available to Spend' amount, you can add Spending Goals for specific categories of spend. For example, a Groceries goal will track your Groceries spending during the course of a month. To add a goal, tap the "Add a Goal" button and then select the category you want to add. A slider on the Edit Budget page lets you choose exactly how much you want to budget for each category.
Viewing your Budgets
Your budgets are integrated throughout the Truebill app. You can see a high level view of all your budgets right from the budgets card on the Truebill Dashboard. You can also see your budget progress on your Spending tab. Finally, tapping any category on the Spending tab (or tapping a Budget on the Dashboard) will bring you to a Category detail page where you can see historical spending against your budget as well as all of the transactions in that category.
Ignore Outlier Expenses
You can ignore an unusual or large purchase by tapping "Manage Your Budget" and then scrolling down to "Outlier Purchases."
Sometimes an expense will show up in the wrong category. To fix it, simply find the expense on the Category page, or on the Transactions screen, then tap the Category icon on the left of the expense to change it to the proper category.
Deleting a Budget
If you wish to remove a certain category from your budget simply wipe the budget category to the left to reveal the delete option.
Glossary of Terms
Available to Budget - Your income minus your bills and expenses, minus your savings goal. This represents the total amount you can spend outside of your recurring subscriptions and bills.
Amount Leftover - This number represents your total unbudgeted amount. Your monthly income minus your bills & subscriptions, minus your savings goal, minus your custom budgets. This number represents your total unbudgeted amount.
Savings Goal - This is calculated by adding together your total anticipated Smart Savings transfers. You can customize this by tapping the edit "pencil" icon.