Managing your finances becomes a lot easier when you organize your transactions with the right categories. In Balance: Money Manager, we’ve made it simple for you to add custom categories to track your expenses and income efficiently. This guide will walk you through the process of adding categories and provide tips on how to use them to improve your budgeting experience.
Why Use Categories in Balance: Money Manager?
Categories help you get a clear breakdown of where your money is going. By categorizing your transactions, you can:
- Identify your biggest spending areas.
- Track your income sources.
- Set better financial goals.
- Get more accurate insights from your financial reports.
How to Add Categories in Balance: Money Manager
Follow these simple steps to create custom categories in the app:
Step 1: Open the Balance App
Log in to your Balance: Money Manager account.
Step 2: Navigate to Categorie
Go to the home section. Select Categories
Step 3: Add a New Category
There will be having two ways we can add categories. If there is no categories added, there will be option for adding default categories.
3.1 Adding Default Categories
Tap on the Add Default Categories button. Default Categories will be added instantly
3.2 Adding Additional Categories
Tap on the Add button. Will be directed to another page where you can add new Category
- Enter the Category Name (e.g., Groceries, Rent, Entertainment)
- Select whether it’s an Income or Expense category.
- Click add category to save.
Tips for Effective Category Management
Keep it simple – Don’t overcomplicate your categories. Use broad categories that cover most transactions.
Review regularly – Check your category list periodically to remove any unused categories.
Conclusion
Adding categories in Balance: Money Manager is a great way to organize your finances and gain better control over your spending habits. Start creating custom categories today and see how they help you make smarter financial decisions!