Overview
A budget helps you control your spending by setting a limit on how much money you plan to use within a specific period.
Instead of guessing where your money goes, Budget in Money Tracker lets you plan ahead, track progress, and get alerts before you overspend.
Why Should You Use a Budget?
Using a budget helps you:
- Avoid overspending
- Understand your spending habits
- Plan expenses more confidently
- Stay in control of your money
A budget doesn’t restrict you—it guides you.
How Budget Works in Money Tracker
In Money Tracker, a budget is based on:
- Categories
- Time period
- Spending limit
Once created, the app automatically tracks your expenses and shows how much of your budget has been used.
Budget Types
Category-Based Budget
You can create a budget for selected categories only.
Example:
- Food: $200 per month
- Transport: $50 per month
This is useful if you want to control specific types of spending.
All Categories Budget
You can also create a budget that includes all categories.
Example:
- Total monthly spending limit: $600
This gives you a big-picture view of your overall spending.
Budget Period Options
Money Tracker supports flexible budget periods so you can match your lifestyle.
Weekly
Best for short-term control and daily spending habits.
Bi-Monthly
Useful if you receive income twice a month or plan expenses every two weeks.
Quarterly
Ideal for longer-term planning (every 3 months).
Yearly
Helps you track spending across the whole year.
One-Time (Custom Period)
Perfect for:
- Travel
- Special events
- Temporary expenses
You choose the start and end date.
Monitoring Budget Progress
Once your budget is active, you can easily monitor:
- Amount spent
- Remaining balance
- Percentage used
The progress bar updates automatically as you add expenses.
Budget Alerts
To help you stay on track, Money Tracker sends alerts when:
- You’re close to reaching your budget limit
- You’ve exceeded the budget
These alerts act as a warning system, giving you time to adjust your spending.
Best Practices for Using Budget
- Monthly household expenses
- Personal allowance tracking
- Travel planning
- Saving goals support
Common Use Cases
- Start with realistic amounts
- Budget only important categories at first
- Review your budget regularly
- Adjust limits if your lifestyle changes
Budgeting works best when it’s flexible, not strict.