A car repair fund is money you set aside each month for servicing, tyres and the repairs you can't predict. In a worked example, about 90 a month covers a year of servicing, a set of tyres every few years and a repair cushion.
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To use analytics in Wealtie, open Analytics and look at your month by category, against the month before, with the days that pushed spending up marked. That view is on the Free plan, and Pro adds other periods and income insights.
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To set category budgets in Wealtie, give some categories their own share of your monthly limit, like 400 for groceries out of 2,000. Each share fills on its own, and anything you don't allocate still counts toward the total.
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To update balance in Wealtie, open the account and use Update Balance to set the exact figure, or add or take away the difference. It's recorded as a correction, so it doesn't count as spending or income.
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Wealtie Free vs Pro comes down to limits and extras. Free gives you two accounts, ten categories, one recurring transaction, a monthly budget and all 68 currencies, and Pro removes the limits and adds sharing, receipts and income analytics.
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A new year budget reset takes one afternoon: add up what last year cost, list this year's big bills by month, set a monthly budget you can keep, and automate the savings. January is the easiest month to start, and often the most expensive.
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A payday routine is 20 minutes on the day your pay lands: check the amount, move savings first, set aside bills, top up your spending money and look at the month ahead. On take-home of 2,800, that sorts every pound or dollar before you've spent any.
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To automate your savings, set up a transfer for the day after payday into a separate account, then raise it every time your pay goes up. Saving 150 a month this way is 1,800 a year, with no decision to make each month.
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Gross vs net income is the difference between what you earn before deductions and what reaches your account. In a worked payslip, 3,500 gross becomes 2,485 net, and that net figure is the one to budget with.
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Cost per use is the price of something divided by how many times you'll use it. A 200 jacket worn 100 times costs 2 a wear, while a 60 one worn ten times costs 6, so the cheaper item can be the more expensive choice.
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To avoid overdraft fees, keep a small buffer in your account, turn on low-balance alerts, move bill dates to just after payday, and ask your bank whether it can decline a payment instead of overdrawing. Most fees come from timing, not overspending.
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To read a bank statement, start with the opening and closing balance, then go down the transactions checking each one is yours. How to read a bank statement well comes down to five checks: unknown charges, duplicates, fees, subscriptions and refunds.
· 3 min read
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