Budgets

This plugin allows you to define and manage your budget.

Like in all other financial software, Skrooge allows you to define a budget. You can do it manually or automatically.

Budget definition

In manual mode, you can:

  • Define a budget amount for a category for a year.

  • Define a budget amount for a category for all months of a year.

  • Define a budget amount for a category for a specific month of a year.

  • Define if income or expenditure of sub categories must be taken into account in the define budget (example: if the option is selected then a budget for the category "Car" will take into account the category "Car > Fuel").

Tip

You can define a budget capturing all income or expenditure not defined in another budget by leaving the category empty. This is really useful to be sure that you do not miss an expenditure.

In automatic mode, you can:

  • Define a budget for a year based on the operations of the previous year.

  • Define missing budget items to balance each month and/or the year. Even on manually defined budget.

Budget rules

To go further in budgeting we will take as example the following balanced budget:

  • -500 € / month for "Food".

  • +500 € / month for all other categories of expenditure and income.

Imagine now, that you spent 600 € for "Food" during the previous month! Skrooge informed you that you are over the defined budget but you cannot stop to eat. So you spent more than expected! How to do with that?

Budget rules will allow you to define how you want to do with the delta (positive or negative). For example, you can choose to transfer the delta of one month to the next month. In this case, your new budget for "Food" for the current month is -400 € (-500+100). So you have to take care to recover the situation.

Budget rules can also help you for your project. For example, you can define a rule like this: All positive delta (saving) on "Food" are transferred in "Holidays". By this way, when you have the expected amount in "Holidays" budget then you know that you can go.