What are budgets?

A budget is a great way to plan and track your spending over a certain period of time. You can split a target amount into expense categories. This gives you more control over your finances.

You can also share your budget with others. This lets family, friends, or colleagues manage and track spending together. You can learn more about sharing budgets here.

What kinds of budgets are there?

1. Recurring Budget repeats after a set time, like weekly, monthly, or yearly.
2. Event Budget is for a large or one-time event, like a holiday trip.

Recurring budget

A recurring budget is a great option for managing regular, ongoing expenses. This type of budget helps you track your spending over time. It's perfect for things like weekly grocery shopping, monthly utility bills, or yearly subscriptions. You can set up a weekly, monthly, or yearly recurring budget, depending on your financial needs.

Key features of recurring budgets:

• Customizable frequency: choose from weekly, monthly, or yearly recurrence.
• Category selection: choose categories such as food, entertainment, or bills. Divide the funds based on the established criteria.
• Spending limits: set limits for each category to help you live within your means..
• Flexible start date: choose when you want your budget to start, such as Friday for weekly budgeting or the first of the month for monthly plans.
• Average Spending: get insight into your average spending per period to help you understand long-term spending habits.
• Period reports: These reports show how much you spent during each period, giving you a clear picture of where your money is going.
• Next Period Predictions: this AI feature predicts your future spending. It uses your recurring expenses and past spending. It gives you a heads-up on what to expect in the next period, helping you prepare and stay on track. (Premium plan only)

More information on these features find here.

Event budgets

This is designed specifically for managing the costs associated with a large or one-time event. An Event Budget can break down your trip or event costs. It can list them by category: transportation, lodging, food, and entertainment. You can set spending limits for each category. This will prevent overspending during your holiday or event planning. You can also create To-do lists right here to help you stay on top of everything.

Key features of event budgets:

• One-time use: perfect for large, one-time expenses.
• Category flexibility: allocate expenses to match the event, such as lodging or food.
• Total budget: set a budget for the event and track your progress.
• To-Do lists: Managing a big event goes beyond budgeting.With the to-do list feature, you can organize and track important spendings for your event alongside the budget. This tool manages tasks like booking hotels, buying tickets, and making itineraries. It keeps everything in one place. This makes planning smoother and ensures nothing gets overlooked.

More information on these features find here.

Budget list and viewing options

Once you create your budgets, you can view them in a list. The app has two views to make managing your budgets easier:

List view: budgets are displayed in an organized list, divided into Recurring budgets and Event budgets. This makes it simple to quickly review all your active and upcoming budgets at a glance.

Timeline View (Premium Feature), which offers a unique and interactive way to track your budgets:

1. All budgets at a glance: both recurring and event budgets are displayed together on a calendar. You can scroll left or right to view past or future periods, while always having the option to quickly return to “Today.”
2. Flexible date grouping: you can customize how the timeline displays your budgets by choosing from daily, weekly, monthly, or quarterly groupings. This feature gives you more flexibility and control over how you visualize your budgeting periods, helping you better track financial patterns and upcoming expenses.

How Grassfeld keeps you on track

The app has tools to help you set budgets. They also help you stay on track with your financial goals.

• Real-time tracking: tracks your spending in real time and updates your progress. You'll always know your spending and your remaining budget.
• Notifications and alerts: you can customize alerts to let you know if you might exceed your spending limit. This flexibility lets you manage how and when you get updates, which helps you stay in control

• Visual insights: graphs and charts show your financial health. They reveal where your money goes and help you make better decisions.
• Widgets: provide real-time updates on your spending budget limits. They let you check your finances without opening the app. Widgets keep you informed and in control of your budget.