Quick Budget

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.

Quick budget and its multiple options highlighted in the right-hand sidebar

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, not including Hidden Categories. Clicking a Quick Budget button will ask you to confirm updating the Budgeted amounts in your categories, and once confirmed, it 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.) The undo button lives at the top of your budget next to the + Category Group button

Quick Budget Options

There are five options that will add money to your categories when used:

  • Underfunded: This option will budget enough to fund your goals in their order of priority, in addition to covering upcoming transactions and overspending. It's a pretty schnazzy tool! 
  • 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.

And three options that will remove money from your categories:

  • Reduce Overfunding: If there are any goals in your budget that have more money budgeted towards them than they need, this option will remove the extra money from those categories and send them back to To be Budgeted
  • Reset Available Amount: Sometimes it's best to re-prioritize every single dollar in your budget. This button will allow you to do just that. By resetting Available amounts, 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 Amount: 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.

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.

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