How do I move my budget across to the new version of MoneyBrilliant? (affects pre-November 2016 clients)

There have been some big changes in the budget in the new version of MoneyBrilliant. Once you have set it up, the tracking, and the fact that the budget links to the bills and Safe Spending, means you will always get an accurate picture of your finances and be able to plan ahead.

In moving the budget across there are some steps we recommend you follow to have it all set up as simply as possible.

Step 1:  Check your bills

 The bills calendar and the budget didn’t previously talk. Now they do, which is great. However, in the set-up, there are a few things that may happen. Firstly, bills may double up and secondly your projected figures may include both the bill and an average of your expenses. Thirdly if you don’t go and categorise your bills in your bills calendar first, you will find them in Uncategorised Transactions at the bottom of your Essential and Lifestyle expenses.

We recommend that you go to your Bills calendar first and categorise all your existing bills.

To do this you will need to click in each existing bill individually and select Edit, in the edit screen you are able to update the category and Save.

Once you have updated all your existing bills, you should go through and add any bills that are not currently in the Bills Calendar.

Once your Bills Calendar has been updated go through to your budget from the Manage my Spending dashboard and select Edit budget. Refresh each section by clicking the refresh button beside Income, Essentials, Lifestyle and Savings.

Step 2: Check your expenses

To edit your budget, you will need to go through your Manage my Spending dashboard tracking then select Edit Budget.

If there are any expenses that have doubled up using both your average spend previously and your bills, select the amount to the right of the category it is in, and you will be able to edit the figure. You will not be able to edit the bill amount (unless you go into the bills calendar), however, you will be able to edit any amount above the total of the bills for that category.

Once you have updated all your categories refresh the figures for that section, i.e. Lifestyle, Essentials etc.

Step 3: Check your income

Your income will now be a figure that is an average of the last 3 months. Check that it is correct as you may wish to exclude things like Tax refunds and bonuses from your average figure and then add them into the month you will receive it.

Step 4: Personalise the months that are out of the ordinary

This may include adding unusual amounts to your income during the year. It may include big one-off expenses that you haven’t included in your Bills Calendar, such as holidays or back to school expenses.You can easily edit your figures by clicking into the amount to the right of the category.

You can easily edit your figures by clicking into the amount to the right of the category.

Step 5: Refresh your changes

 Make sure as you make changes you refresh the section that your changes are made to. You will have the option to choose to make the change for this month, all months, or this month forward.