Welcome to Fineo Budget
Managing your personal finances doesn’t have to be overwhelming. Fineo Budget streamlines your financial planning with an easy-to-use interface. Below is a step-by-step guide to set you on the path to financial freedom.
Step 1: Add Your Accounts
What to Do:
Firstly, you’ll need to add the accounts where you hold funds. These accounts will set the stage for your budgeting activities.
How to Do It:
- Choose between adding a Linked Account that automatically syncs transactions from your bank, or a Manual Account where you enter transactions yourself.
Types of Manual Accounts:
- Checking Account: For everyday banking activities.
- Cash Account: To manage physical cash transactions.
- Tracking Account: To monitor assets or transactions with external parties.
What Happens Next:
Once you’ve added your accounts, you’ll notice your ‘Total Funds Available’ for the month will update according to the new balances.
Step 2: Customize Your Budget
What to Do:
We’ve given you a head start with a default budget, which you can customize to better fit your lifestyle and financial goals.
How to Do It:
- Monthly Expenses Budget: For recurring costs like groceries and rent.
- Future Expenses Budget: For future costs like insurance premiums, taxes, or holiday gifts.
- Savings Budget: For building your nest egg.
- Feel free to add, modify, or delete categories and groups.
- Move categories within the same type of budget or hide categories you don’t want to delete.
Step 3: Allocate Your Funds
What to Do:
The next step is to allocate the funds you’ve identified in ‘Total Funds Available’ to the various budget categories.
How to Do It:
- Prioritize essential monthly expenses.
- Allocate sufficient amounts for future expenses.
- Don’t forget to save!
What Happens Next:
As you allocate funds, you’ll notice that the ‘Total Funds Available’ will decrease. Continue until this amount is zero to ensure every dollar has a job.
Step 4: Track Your Transactions
What to Do:
Monitor your transactions regularly to keep your budget accurate and up-to-date.
How to Do It:
- For Linked Accounts, transactions are imported automatically.
- For Manual Accounts, add transactions regularly by specifying the account, the transaction’s counterparty (e.g., merchant’s name), category, and the amount.
Note: Transfers between accounts do not require a budget category.
Step 5: Review and Adjust Your Budget
What to Do:
Consistently review your budget to ensure you’re staying on track.
How to Do It:
- Make necessary adjustments to your allocated amounts.
- Rebalance your budget as needed.
Step 6: Start Fresh Each Month
What to Do:
Start anew with your budget every month.
How to Do It:
- You can either manually reset the budgeted amounts or use the “Manage the Budget” menu to modify the previous month’s budget.
You’re now equipped to manage your finances like a pro with Fineo Budget. For more advanced features and tips, be sure to check out our other help articles.
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