eMoney Budgeting Tool Tips

We know that the start of a New Year often means looking for ways to manage expenses. Whether this is you, or maybe you recently married, we wanted to provide some tips that will allow you to get the most out of the budgeting tool on the eMoney client portal. If you do not have an account set up, please reach out to Melissa Visbal and she will happily get you connected and set up!

Tips for Using the eMoney Budgeting Platform:

1. Link all your accounts. This includes checking, savings, retirement, investment accounts, credit cards, and other liabilities. Include HSA accounts if you have them. This is going to take some time and patience to complete, but once you have it done you will have a lovely live snapshot of your household accounts.

How to for how to add accounts in your eMoney client portal.

2. Explore the Spending and Budgeting features. Use this to assist you with the budgeting tool. I recommend starting with the last 30 days as your time frame. Then, you will start categorizing your expenses. You can also create rules for certain expenses, which you can find further instructions for this in the how-to.

Melissa and her fiancé set aside time once a week to go through the expenses since this seems to be the most manageable. Pick a time that works best for you. It will take some time and tinkering with for it to reflect what you are looking for, but just keep consistently checking the transactions and categorizing them.

Next, you can either create a single budget, giving you the flexibility to manually add spending categories and budgeted amounts, or you can select an auto-budget for you based on your average spending for the last six months.

If you’ve used the budgeting tool in the past, we would love to hear your input! Contact Melissa Visbal for more information.