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Overview

Budgeting in Skwad is very similar to other apps but with a few minor differences.

  1. Your categories are not tied to your budget.

  2. You can have multiple budgets.

  3. You can edit your budget at any time.

Budget Categories​

Before creating a budget, you need to setup categories to track your spending against. Your categories can be used all over the app, not just within your budget. You can even track the same categories across multiple budgets.

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If this is your first time using Skwad, we highly recommend reading about how categories work.

Multiple Budgets​

But why? Skwad is all about flexibility and granularity.

You could create a monthly and yearly budget and track your spending against both. You could also make an additional temporary travel budget that excludes your monthly bills during vacations.

Budget Types​

Skwad currently supports a single budget type (with more planned)

  • Envelope Budgeting: envelope budgets are simple. Divide your monthly income into buckets or 'envelopes', and track your spending against them.

Budget View​

The budget view shows you your budget and how much you have available. You'll also be able to compare your budget (or projections) to your actual spending.

Skwad will also show you if you have any missing transactions that need to be categorized or that were pushed forward

Budget Reviews​

You'll be prompted with a budget review screen at the end of each budget period (month/year). Skwad will summarize details like your unplanned spending and overspending.

This view allows you to update your budget for the next period. You could:

  • Rollover under & overspent categories into the next period
  • Use your actual spending as your new budget
  • or use the previous values.

You can also remove unplanned or unspent categories in a single click, and add memos for the period!

Budget History​

After your first budget period, Skwad allows you to review and compare previous budgets vs actuals.

Budget Options​

After creating your first budget, you can set budget options.

  • Pushing-forward: Sometimes you buy things in advance. Set an effective budget date for when the purchase will be effective in your budget (up to 2 years in advance). This doesn't affect the actual transaction date or your trends view.
  • Excluding: You can entirely exclude a transaction from your budget.