Budgeting

Guide 19: Budgeting

Plan and track your spending with budgets

Overview

Budgets help you plan spending and stay on track financially. OtterLedger supports monthly and annual budgets with category-based allocations, rollover options, and progress tracking.

What you'll learn:

• Creating budgets
• Allocating amounts to categories
• Tracking progress
• Budget reports

Time required: 15-20 minutes for initial setup

Prerequisites

• Categories set up for your expenses
• At least one month of transaction history (helpful for estimates)

Creating a Budget

Step 1: Start New Budget

1. Go to Budgets in the sidebar
2. Click Create Budget

Step 2: Choose Budget Type

Step 3: Set Period

• Start Month - When budget begins
• End Month - When budget ends (or ongoing)

Step 4: Name Your Budget

Give it a descriptive name:

• "2026 Monthly Budget"
• "Household Expenses"
• "Business Budget Q1"

[Screenshot: Budget setup form]

Allocating Budget Amounts

Add Categories

1. Click Add Category
2. Select expense category
3. Enter budgeted amount
4. Repeat for each category you want to track

[Screenshot: Budget category allocation]

Quick Setup from Spending

OtterLedger can suggest amounts based on past spending:

1. Click Auto-Fill from History
2. Select time period to analyze
3. Review suggested amounts
4. Adjust as needed

Category Examples

Budget Dashboard

Viewing Your Budget

Go to Budgets → Select your budget:

┌─────────────────────────────────────────────────────────────┐
│ January 2026 Budget                                         │
├─────────────────────────────────────────────────────────────┤
│ Groceries         ████████████░░░░░░  $450 / $600  (75%)   │
│ Dining Out        ████████████████░░  $175 / $200  (88%)   │
│ Gas               █████████░░░░░░░░░  $95 / $150   (63%)   │
│ Entertainment     ████████████████████ $120 / $100 (120%!) │
├─────────────────────────────────────────────────────────────┤
│ Total Budgeted: $1,125    Spent: $840    Remaining: $285   │
└─────────────────────────────────────────────────────────────┘

Progress Indicators

Budget vs. Actual

Compare Spending

View detailed comparison:

1. Go to Reports → Budget vs. Actual
2. Select budget and period
3. See side-by-side comparison

[Screenshot: Budget vs. Actual report]

Rollover Budgets

Enable Rollover

Unused budget can roll to next month:

1. Edit budget
2. Enable Rollover
3. Choose categories that roll over

How Rollover Works

Example: January grocery budget $600, spent $500

Managing Budgets

Edit Budget

1. Open budget
2. Click Edit
3. Add/remove categories
4. Adjust amounts
5. Save

Copy Budget

Create new budget from existing:

1. Open budget
2. Click Copy
3. Set new period
4. Adjust if needed
5. Save

Archive Budget

For completed periods:

1. Open old budget
2. Click Archive
3. Keeps history, removes from active list

Budget Alerts

Set Up Notifications

1. Go to Settings → Notifications
2. Enable Budget Alerts
3. Configure:
   • Alert at 80% spent
   • Alert when over budget
   • Weekly summary

Tips & Best Practices

1. Start simple - Budget 5-10 categories first
2. Be realistic - Use past spending as a guide
3. Include buffer - Add 10% for unexpected expenses
4. Review weekly - Catch overages early
5. Adjust as needed - Budgets can change
6. Track trends - Compare months to improve

Troubleshooting

Q: Spending not showing in budget

A: Verify transactions are in budgeted categories. Check dates are within budget period.

Q: Budget seems too tight

A: Review actual spending history. Adjust allocations to be realistic.

Q: Rollover not working

A: Ensure rollover is enabled for specific categories.

What's Next?

• Guide 20: Scheduled Transactions - Automate recurring entries
• Guide 33: Budget vs Actual Report - Detailed analysis

Need help? Visit the OtterLedger community at github.com/openledger or check the FAQ.