Simple Budgeting Mode
A straightforward approach to tracking income and expenses without complex categories.
What is Simple Budgeting?
Simple Budgeting gives you a clear, uncomplicated view of your monthly finances. Instead of tracking dozens of categories, you focus on two key numbers: your income and your total expenses.
Setting Up Simple Budgeting
Step 1: Add Your Income
Enter all sources of monthly income:
Salary or wages (after taxes)
Side hustle income
Investment returns
Any other regular income
Step 2: Set Your Expense Target
Set a target for your total monthly expenses. This should include everything: bills, groceries, entertainment, and minimum debt payments.
Step 3: Track Your Spending
As you spend money throughout the month, log your transactions. BeDebtFree shows you how your actual spending compares to your target.
Understanding Your Dashboard
The Simple Budget dashboard shows:
Total Income: Your expected monthly earnings
Total Expenses: Your spending target and actual spending
Available: The difference between income and expenses
Progress Bar: Visual indicator of spending vs. target
Tips for Success
Log transactions daily to stay aware of your spending
Review your available balance before making purchases
Use the surplus to make extra debt payments
Adjust your expense target if it is consistently too high or low
Switching to Envelope Budgeting
If you find you need more detailed tracking, you can switch to Envelope Budgeting at any time from the Budget settings. Your transaction history will be preserved.
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