The budgeting envelope method allows customers to organize their money with several expense types to get a better grasp of their daily expenses. Budgeting accounts help customers adjust this financial management which has now become widespread, in a digital and secure way.
Budgeting account management with graphs
Customers can create a budgeting account by tapping "+" at the top of the home screen. By choosing "Budgeting account", they can add a name and a budget to monitor transactions relating to a specific expense type. They can create as many budgeting accounts as they have expense types (leisure, shopping, groceries...), thus managing their budgets in a detailed and customized way.
Graphs also allow customers to:
- Set the start date for their budget, by choosing a date that is aligned with the day they receive their income.
- View their past expenses and anticipate future expenses thanks to a projection curve.
- Monitor in real time the trends and progressions of their expenses throughout the month.
- Enjoy daily estimates for their expenses to help them keep to their budgets. This helps them better anticipate and manage their finances.
Choosing the beginning of the time frame
The chosen date will be used to set the start date of the graph. By choosing the first day of the month, that's when the graph will begin, meaning it will end on the 30th or 31st of the following month.
The chosen date marks the starting date of each time frame. The graph will show a suggested curve of expenses for the chosen time frame based on the budget.
Budget calculation and balance prediction
To organize their budgets, customers can view the following information on the graph:
- Display of current balance and expenses in real time.
- Money that can be spent each day until the end of the time frame.
- A percentage of the total budget that has been spent during the ongoing time frame.
Display of past expenses
When customers choose a past date on the graph, they can see:
- The balance at that date (at midnight).
- The estimate of daily expenses on that day (at midnight).
- How much (in %) of the budget was spent up until that day (at 11:59PM).
Display of future projections
When customers choose a future date on the graph, they can see:
- A linear projection of the account balance until the end of the chosen time frame.
- The estimate of daily expenses on that day.
- An estimate (in %) of the budget that will be spent up until that day.
The graph allows customers to view at any time how much money they have left before reaching the limit they had set. If this limit is exceeded, they can also see exactly in percentage points by how much the limit was exceeded. They can then adjust their expenses or reassess their budgets.
Spending with a budgeting account
Customers can spend the money on their account directly with their card. Before making a transaction, they can choose the account they want to be debited. They can also change the debit account after the transaction, by tapping "transaction detail".