How do I start a budget?
Open Wealth, tap Budget & Cashflow, and add your income and spending.
This needs an account. Sign in to the app first.
Steps
- Open the Wealth tab. Under Core Tools, tap Budget & Cashflow. The screen is called Budgeting Suite.
- On the Overview tab, tap + Income for money you receive or + Expense for money you spend.
- Type an amount and a description. You need both. Pick a category and a date. Payment method and notes are optional.
- Tap Save Transaction. The totals at the top update.
- To set a spending limit, open the Planning tab. Under Budget Limits, type an amount beside a category and tap the check mark.
- Use the arrows beside the month name to look at another month.
Want help getting set up?
On the Overview tab, tap Budget Setup Guide. It asks a few questions about your income and savings goal.
When you finish, it saves a monthly income template and a monthly savings template. Neither adds a transaction until you apply it on the Planning tab.
Good to know
SOS does not connect to your bank, so you add each transaction yourself.
Your budget is saved to your account. A spending limit applies to the month on screen, so set limits again for a new month.
The money tools are for learning and are not financial advice.
What happens next
Your totals for the month also show on the Wealth home screen, under This Month's Budget.