We save money for all kinds of reasons, and what constitutes savings might vary from person to person.
For example, not everyone will agree whether each of these would count as savings:
- Putting money into your retirement account
- Setting money aside for a house downpayment
- Saving up for a rainy day
Since it is your budget, you can classify any category as a Savings category. All of the money budgeted toward Savings categories will count towards your savings rate.
Record savings by following these steps:
- Open your budget.
- Make sure the correct month is selected.
- Find the savings category you would like to add your savings to.
- You should have money available to budget, otherwise assigning additional money in your budget will put you overbudget.
- Update the budgeted input field with the additional money you wish to save.
- Click outside the input area.
- Check the budget summary at the top of your budget to see your savings reflected.