Tips on using the Money Center to keep track of your budget

Last Updated: Jan 13, 2015 05:02PM EST
Here are some tips & tricks for using the Money Center tools to keep track of your budget:

1. Teach the Money Center to correctly folder your transactions

Search for a transaction name (e.g., Chipotle), and you'll see every transaction with that name. You can then click "Select All" to categorize all those transactions at once.

To teach the Money Center to automatically put your transactions in the correct folder, FIRST drag the selected transactions into the "Unfoldered" folder at the top of your Inbox. Once you've done that, you'll notice that the folder names of all the transactions in your search view have changed to "Unfoldered." Now, click and drag the same transactions to the folder you want. By doing this, you can teach the Money Center how to categorize similar transactions in the future.

2. Recategorize and rename transactions

If, for example, you have several PayPal transactions that represent items you purchased on eBay, you can search for them and click "Select All." Then click "Edit Transactions" to update them all at once. From there, you can rename the transactions and folder them into the correct categories.

3. Add cash transactions

Click "Add Cash Transaction" and fill in the details in the pop-up box that appears. If that cash came from an ATM withdrawal you made that was already foldered in your Inbox in your ATM or Cash folder, you can check the box that says "This Cash Came from An ATM Withdrawal." This way, it's not double-counted in the Money Center. You'll then see the total in your ATM Cash folder decrease by the amount of this transaction.

Note that you can also add a cash transaction from the iPhone or iPad app on the go as well!

4. Split transactions

Sometimes you may need to split a transaction to categorize the spending properly across multiple folders. For example, you may go to Target for household goods, but also pick up a few groceries. To split a transaction, simply click on the transaction you want to split, click the "Split" button, and then fill out the amounts you want to split. Then, you can drag and drop the split transactions into the correct folders.

You can also give each transaction a separate date after you've split it. For example, if you have a quarterly utility bill, you can split the transaction and put each one into a past month. After you've clicked the "Split" button, you can click the calendar icon to folder the transaction in a past month so it doesn't look like you've gone over budget in the current month.

5. Customize the Money Center

The Money Center is meant to be personalized for YOU! Have fun with it by customizing the names and colors of your folders.

To do this, click on a folder and select a color on the color wheel. You can also update the folder name here.

Address
41 E 11th St. New York, NY 10003

feedback@learnvest.com
https://cdn.desk.com/
desk
Loading
seconds ago
a minute ago
minutes ago
an hour ago
hours ago
a day ago
days ago
about
Invalid characters found
/customer/en/portal/articles/autocomplete