Making your first budget : a “piece of cake” with Budget Express Assistant!

1 Nov 2012

Budget Express is a tool that guides you step by step when you create a budget with the help of its software. A complete package, Budget Express allows you to plan for almost any situation! However, to speed up the process and lighten the task, here are a few tips:

Before plunging into the making of a budget, whether it be through Budget Express or on paper, there are a few things that are unavoidable.

First Rule: Before starting, gather all pertinent papers. Bank and credit card statements are especially useful for tracking spending and recurring income.

Second Rule: Always remember that a budget is a continual process that is refined over time! Despite all the care you might put into planning it, a budget will always be modified as you go to adjust to reality. Thus, our planned budget is different from our actual budget. Here’s an article that explains this topic in more detail.

If you use Budget Express:

A. Start the software, then click on Create a new budget.
B. A window will ask you to assign a name to your budget and select where you want to place it. Click on OK to continue.
C. The Set Up Wizard guide you through the 7 steps. You will always be able to add, modify or delete the entries and operations later.

A quick filler about what’s to come.

A few questions are asked to determine the entries that match your personal situation.

3-Other accounts:
Skip this step if you’re in a hurry. You’ll be able to manually create other accounts later, if needed. To go to the next step, click on “Next Step” on the bottom left of the window.

Identify your sources of revenue.

5-Fixed spending :
Enter the amounts according to the entries chosen.

6-Variable expenses:
Go ahead and round things up or down… estimate! (ou Feel free to “guestimate”.) Think of your priorities; the rest will be adjusted later.

Indicate the starting balance of your account (or accounts if you created others in Step 3).

Note: some options located on the bottom left of the Assistant window allow you to activate or deactivate the voice instructions.

And voilà, your budget is ready! See the different entries on the left of the screen, classed in the corresponding sections (Income, Fixed Expenses, Variable Expenses, etc.)

Forgot a few operations?
1. Find the entry corresponding to the list on the left, then click on it to make the change.
2. Right-click in the box of the calendar corresponding to the day of the operation, choose “Add an operation”, then follow the steps on the screen.

Want to modify a planned operation?
1. Find the expense entry corresponding to the list on the left, then click on it to make the change.
2. Right-click on the appropriate operation in the calendar, choose ‘Modify the operation’, then follow the steps on the screen.

Did you forget an entry?
Simply look to the left of the screen for the ‘Add an entry’ button.

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