Should I budget all my acounts?
Budgets are highly effective for managing your net worth, which means that you should include in your budgets all accounts that receive money you can use on a daily basis, whenever you need.
In your budgets you should include:
- Working capital: pocket money, checking accounts, etc.
- Credits: Credit card
- Savings accounts
You should exclude from your budgets:
- Credits: all long-term credits (Housing, Car, Consumser, etc.)
When configuring Boonzi, whenever you are planning a month you will see exactly how much money will have available to distribute for future expenses.
And since you have excluded long-term credits, the monthly payment transfer is seen as an expense – which mean you will now be able to bydget the category “Housing: Monthly Payment” if you have a Housing credit.
You will obviously have the freedom to choose the configuration that best adapts to your case, although this recommendation is actually the correct way of managing your future assets.
To include or exclude accounts from your budgets just go to Confiuguration > Accounts and for each account, disable / enable the “Exclude from budgets” box.