Want to get a jump start on your budgeting instead of beginning with a blank slate? (Not that there's anything wrong with that...) Quick Budget makes budgeting simple and fast. It's not a one-size-fits all technique, either: there are several different options. You can use the approach that best fits your unique budgeting needs.
In the Budget, you’ll see the Quick Budget options in the Inspector (what we call the light blue sidebar to the right of your budget).
What To Expect
When no categories are selected, Quick Budget options reflect the whole budget—but only those categories in which you haven't already budgeted. Except for the Reset Budgeted Amounts option, Quick Budgeting will not change the Budgeted values you've already entered unless you specifically select the category first, and it won't affect hidden categories.
Clicking a Quick Budget button will immediately update your Budgeted values. It takes its name seriously. 😉 By selecting one or more categories or category groups, you can focus your Quick Budget efforts.
Don't like the results?
Undo it! Click the Undo button below the month name in your budget and try something else. (Only available in the web app.)
Quick Budget Options
- Underfunded: This option will budget enough to cover overspending, upcoming transactions, and goal targets.
- Budgeted Last Month: Some budgeted amounts don’t change month-to-month. Rent/mortgage, for example. Use this option to budget the same amount as the previous month.
- Spent Last Month: If the previous month’s spending was a pretty good template for the current month, fire up this option.
- Average Budgeted: An up-to-12-month rolling average of the budgeted value for this category, starting from the first month you budgeted to this category. The current month is excluded. (If you're in your fourth budget month, and you started budgeting to the selected category in your second budget month, it will calculate your average over months two and three.)
- Average Spent: The not-so-hidden gem of Quick Budgeting. Spending averages are super-honest. We’ll show you an average of up to the last 12 months—use it as the basis for your budget, and you’ll likely be right on target.
- Set Available Amounts to $0.00: Sometimes it's best to re-prioritize every single dollar in your budget. This button will allow you to do just that. By setting Available amounts to $0, those dollars will go right back To be Budgeted. It's like a mini Fresh Start! When you do this, you may notice that some budgeted columns become negative (which is a-ok!).
- Reset Budgeted Amounts: As you might expect, this option will change the value in the Budgeted column to zero. If no categories are selected, it will apply to the whole budget—but there's a prompt to confirm that decision.
With a single category selected, you'll see additional Quick Budget options if you have set a goal for that category or have any upcoming Scheduled Transactions.
- Budget for Upcoming: Instantly budgets the exact amount of any upcoming Scheduled Transactions. This option is most effective at the beginning of the month.
- Goal Target: Do you have a spending or by-date goal set in a category? Excellent, you’re planning ahead! This option will budget what is needed to keep you on track.
No matter which Quick Budget option you use, remember it's important to only budget money you already have. If Quick Budgeting ever turns To be Budgeted red, make adjustments until it returns to a happy, green $0.00.