How to take advantage of Budgets in iCash
One great feature of iCash is the ability to create budgets. A budget is basically a kind of projection of how much money you will spend or earn during a period of time in the future. I believe it is highly probable you already have created budgets in some way or another. Indeed, anytime you figure out how much money you will have left at the end of the month after paying your bills, you are creating a budget. You use budgets to estimate future income and expenses, and create "what if?" scenarios. As time goes by, you may create reports to compare actual incomes and expenses with your budget and find deviations. Typically a budget is created for a specified period of time. At the end of that period you can then compare your actual expenses and earnings with your predicted budget numbers. This can give you a good measure of the health of your economy.
iCash budgeting is quite straightforward since you can simply take advantage of the data you have already provided as a starting point. I am talking about the transactions you have been adding to the software so far. You are probably familiar with Excel, the Microsoft Speadsheet software; creating sheets, entering historical data, budget numbers, formulas, ...etc... well, the iCash budget editor mostly works like a spreadsheet but with built-in formulas and built-in historical data.
It is a good idea to use budgets before making any major decisions. To ensure your financial goals can be reached, first create a budget and enter all the numbers so you can adjust and rework them as many times as necessary.
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