Budgeting That Makes Sense: inBudget’s Transaction Timeline Feature
inBudget’s development team is focused on one goal: innovation that leads to simpler accounting. We’ve been hard at work collecting user data to design a flexible, intuitive application that makes sense for everyone’s financial needs. With fully customizable features and a number of intelligent design upgrades, we believe that inBudget is the financial health app of the future.
Avoid Confusing Accounting
When it comes to keeping track of your hard-earned money, it’s important to keep things simple. Many of the most popular budgeting apps come with so many bells and whistles that it’s impossible to figure out how much money you made in a given month. The purpose of a budgeting app is to illuminate the bare-bones information about your financial picture: how much money are you earning, how much money are you spending, and how is it getting from place to place.
We urge our users to create a system that makes sense for them. While inBudget offers features like pictures and hashtags, there’s no reason to use them if they’re going to complicate your understanding. When your accounting begins to feel like a hassle, you’re more likely to fall into bad habits and put off entering your transactions and budgets.
Every inBudget user is different, and some of our users are interested in maintaining as much financial data as possible. Experiment with the varied features of inBudget until you settle on the most intuitive system for you.
The Most Logical Way to Track Transactions
inBudget’s most intelligent innovation is also one of its most prominent features. When you visit your home screen on the inBudget app, your transactions and budgets will be displayed in a convenient timeline format, combining your financial data with one of the most ubiquitous organizational tools in the world.
Just as tools like Google Calendar or iCal help you to organize appointments, events, and birthdays, an easily-understood calendar helps to organize important financial data like bill payments, paychecks, and random expenses. Rather than displaying your data in a meaningless list format:
|20 Dec 2015||Citi Payment||-144.28|
|22 Dec 2015||Paycheck||+450.00|
|22 Dec 2015||Starbucks||-3.35|
|23 Dec 2015||Hugo Boss||-78.80|
Transactions are laid out in a calendar, providing context for your financial decisions that is immediately understood:
Used effectively, this calendar format can also help you anticipate upcoming expenses. Enter in anticipated payments for credit cards, utilities, and rent/mortgage; the visual reminder of an upcoming expense on your calendar will help you to manage spending in advance.
inBudget users have reported that the timeline feature is particularly helpful when reviewing finances for tax purposes. At year’s end, it can be difficult to find information about past paychecks or work-related expenses. With your complete financial history laid out in a catalogued calendar, a treasure hunt that would ordinarily take an hour takes mere seconds.
Filter Categories for Greater Understanding
Effective budgeting is a delicate balancing act between the various expenses that are incurred each month. Once your complete financial data and goals have been entered into a budgeting app, it can be a challenge to parse through the data and separate individual budgets for things like long-term savings, short-term savings, groceries, or expendable income.
inBudget addresses this issue with an easy system for filtering your various budgeting categories.
As previously mentioned, you are in control of creating the budget categories that make sense for you. If it’s easier to combine rent and utilities into a general “Home Expenses” category, inBudget gives you that flexibility. If you want to get down to details and separate your utilities into heating, electricity, water, and internet, inBudget’s unlimited categories will allow you to track the month-to-month differences in your utility bills.
inBudget’s system for financial planning will display projections for your various budgets, and the flexible tool for filtering categories helps to demonstrate your financial health in various areas. Add and remove filters to see which budget items are affecting your finances the most.
Again, the key aspect of inBudget is its user-friendly nature. By presenting detailed data in a recognizable format, even the most finance-averse person will have an easy time understanding their monetary picture. We strive to make our app as intuitive as possible, and we update the software regularly as we discover new shortcuts and enhancements.
There is a learning curve with every new technological program, and we encourage users to spend a little extra time at the beginning familiarizing themselves with the tools in their inBudget arsenal. An extra investment of exploration at the beginning of your inBudget journey will pay long-term dividends as you work with an app tailored to your needs and idiosyncrasies. Just like with any financial investment, the more time you spend in organization at the beginning, the more rewards you’ll reap over the long haul.