MoneyWell Icon

Learning About Spending Plans

Many finance programs give you an option to create a budget. A spending plan is essentially the same as a budget but without the restrictive language. If you "budget" yourself, it's the same as putting a "limit" on what you can and cannot have instead of simply planning what you intend to spend.

Maybe this month you decide to spend more money on groceries because of a special house guest. You can decide to go over your planned amount as long as you take money from some other bucket, say the "Dining" bucket. With a spending plan, you can also choose to let unspent money from previous months roll over to this month so you can spend more than you planned for a single month.

Spending plans are all about keeping you out of debt. You can choose to buy anything you want as long as you only take money from your own buckets. You never want to go into debt because that is what destroys a good spending plan.

You can learn more about debt management and spending plans by visiting the MoneyWell Tutorials on the No Thirst Software website.

See also

spending plans