Save for later builds up a fund for costs that don't come every month, like car insurance, holidays or gifts. Travel gets $150 a month, and by November it has $300 set aside. Track spending only watches a category with no limit and takes nothing from Available to budget.
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Transcript
0:00 The four budget types
In Hunter Vault, every budget category uses one of four types. Here's what each one does, and when to use it. Tap Profile, then Budgets.
Tap the info button for a quick overview.
A monthly budget is a limit for regular costs. Flexible spending shares one amount across several categories. Save for later builds up money over time. And track spending only watches a category with no limit. Tap Got it.
0:30 Monthly budget
Let's start with a monthly budget. Tap Transportation.
Transportation has $150 a month. $83 is spent, so $67 is left, and next month it starts again at $150. Use it for costs that are about the same every month, like rent, bills or your commute.
0:51 Change a category's budget type
Tap Budget method to change a category's type. All four types are here, with the same names you just saw. Tap Done, and go back.
1:02 Flexible spending: one amount for several categories
Next, flexible spending. Groceries, entertainment and shopping change from month to month. Instead of three separate limits, let's give them one amount to share. Tap the plus button, then Flexible spending.
Give it a name. I'll call it Everyday Spending. Enter the monthly amount, $500, and tap Create budget.
Now tap Add categories, and pick the ones that share it: Food and Groceries, Entertainment, and Shopping. Tap Add.
Spending in any of the three now comes out of the same $500. $206 is spent so far, and $293 is left. Let's go back.
Available to budget went up by $100. The three old limits added up to $600, and the shared amount is $500.
1:57 Save for later: money that builds up
Third, save for later. Scroll down and tap Travel.
Travel gets $150 every month. Whatever you don't spend stays in the fund. Let's go back and look at next month.
Tap the arrow for November, and scroll down. Travel now has $300 set aside, October's and November's, while Transportation starts fresh at $150. Save for later is for costs that don't come every month, like car insurance, holidays or gifts.
Scroll back up and tap Today to return to this month.
2:34 Track spending only
Last, track spending only. Scroll down and tap Housing.
Housing has no limit. You still see what you spent, $60 this month, but it doesn't take anything from Available to budget. Tap Set a budget whenever you want to add one. Let's go back.
2:54 Your budget by type
Tap Summary to see your plan by type: monthly budgets, flexible spending, and save for later.
So: steady costs get a monthly budget, everyday spending shares one flexible amount, costs that come now and then go in save for later, and anything you just want to watch is track only. That's the end of Plan Your Money. Links to download Hunter Vault are in the description.
