Regular budgets allow you to budget for repeating events such as your groceries. Repeating budgets differ from fixed budgets in several ways.
- The amount often varies each period.
- E.g. You travel costs may vary between £10 - £20 each week.
- Repeating budgets encompass multiple merchants.
- E.g. Your groceries may come from Aldi, Lidl, Tesco or any other shop you choose to add.
- May have multiple schedules.
- E.g. You can create a schedule for a monthly food shop and a second weekly schedule for topping up the fresh produce.
Regular budgets are automatically created when a bank account is added to Quo Money. Your Regular budgets are created by analysing your spending habits over the past 12 months.
Regular budgets usually consist of several Merchants and may contain several different schedules.
Merchants are where you spend your money. Merchants can be a shop such as Tesco's or an online retailer such as Amazon, or a service such as your TV licence or Car Tax.
This example of a groceries budget shows several Merchants. You can add or remove Merchants and move merchants between different budgets.