With MyOCCU Online & Mobile, you can track your spending and create budget goals using the Budgets tool. With Budgets, you can gain a higher understanding of where your money goes every month and plan accordingly.
Create a budget
When you first arrive in Budgets, you’ll need to create a budget to get started.
Each budget requires four parts:
This can be any name you choose. If you create multiple budgets, you’ll refer to them by this name.
Choose which accounts you want to track in the budget by checking the boxes next to account names.
Use the Add a Category button to add categories and set limits. For instance, if your electric bill is typically $80 per month, choose Bills and Utilities > Electric from the Category drop-down and enter 80 in the Amount field.
This functions the same as Expenses, but is used to signify the money coming into your chosen accounts. By default, there is only one primary category in this Category drop-down: Income.
When you have added these four parts to the budget, use the Create Budget button to get started with tracking.
View your budget summary
Once you have a budget created, the Summary tab will provide an overview. The Summary tab includes the following information and sections:
Use the Select Budget drop-down to pick your budget if you have created more than one. You can also choose Create New Budget from the drop-down.
The alerts panel shows any alerts for your selected budget. These can include:
- An alert when your spending has exceeded the amount you've budgeted for a category.
- An alert when your current spending trends may lead you to exceed the amount you've budgeted for a category.
- Advice when you have gone over a spending category's budgeted amount for three consecutive months.
- Tips when more than 10% of your transactions are assigned to categories that aren't budgeted.
A list of the accounts included in your budget. Use the account nickname (such as “Remarkable Checking”) to view the transactions for that account. You can also view the transactions using the Transactions tab.
This shows how much more income and spending you expect for the month based on your budget totals. Use the View Income and View Spending buttons to see more details.
Viewing detailed spending and income analysis
There are two ways to access your spending and income breakdowns.
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Option 1: Select the Spending tab or the Income tab.
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Option 2: Use the View Spending and View Income buttons in the Budget Progress section of the Summary tab.
The Spending and Income tabs break down your activity in four main sections
Like the Summary tab, you can change which budget you’re viewing by selecting a budget from the Select Budget drop-down.
You can view spending or income one month at a time or in a range of months. One month is the default view.
- One month: Use the blue slider to select a month to view.
- Range: To select a range, choose Range from the toggle and slide the blue sliders to the beginning and end months of the range you wish to view.
This list shows all the categories you’ve set for your budget along with the amount of money budgeted for each and the actual amount spent or brought in. If you have a multi-month date range selected, the breakdown will automatically calculate the budgeted amounts for you.
This handy chart visually displays the actual amounts by category.
Categorizing transactions
For the Budgets tool to track spending within your categories, it has to know what categories your transactions fall into.
Choose the Transactions tab to view a list of all the transactions within the budget’s accounts. Select the Category for each transaction to change the category.
To categorize multiple transactions at once, use the checkboxes next to each transaction to select the ones you want to change. Then use the Edit Selected button to change them.
To find a specific transaction or list of transactions, use the Show Search button. This will expand a search form where you can search for categories, dates, amounts, keywords, accounts and transaction types. Use the View All button to clear searches.
Changing your budget settings
Use the Settings tab to change the budget’s name, accounts and categories. Anything you set up when creating a budget can be changed from budget Settings.
