NEW ! How to use budgeting feature in chime FULL TUTORIAL

Introduction to Budgeting with the Kim App

In today’s digital age, managing your finances efficiently is essential. The Kim app provides a powerful budgeting feature that can help you track your income and expenses effortlessly. In this blog post, we will guide you through using the budgeting features available on the Kim app.

Accessing the Budgeting Tool

To get started, visit kim.com. Once you’re on the homepage, scroll down to find the option to choose a budgeting method. Here, you’ll see the Monthly Budget Planner. Click on this, and it will open an editable PDF document that will serve as your budgeting template.

Setting Up Your Monthly Budget

Step 1: Fill in Basic Information

Begin by entering the month for which you’re budgeting. Next, add your total income for that month. For example, let’s say your total income is $3,000.

Step 2: Identifying Needs

Under the Needs category, input your essential expenses, which may include:

• Rent
• Groceries
• Utilities
• Bills

For each expense, provide both your expected budget and your actual spending. Don’t forget to calculate the differences, which will highlight whether you overspent or underspent in this category.

Step 3: Additional Expenses

Continue by detailing further necessary expenditures such as:

• Grocery expenses
• Phone bills
• Internet costs
• Transportation fees

Once you’ve filled in these sections, sum up your total needs by adding your expected budget, actual spending, and the differences.

Budgeting for Wants

Next comes the Wants section, where you can budget for discretionary expenses like:

• Subscriptions
• Entertainment
• Travel
• Personal purchases

List out your planned budgets in this section as well.

Savings and Total Expenses

After addressing your wants, it’s crucial to plan for savings. This section can cover:

• Emergency funds
• Retirement savings
• Debt repayments

Be sure to allocate a specific budget here too. Finally, at the end of the PDF, you will find fields to fill in your total expenses and the overall differences between what you expected to spend and what you actually spent.

Conclusion

By following these steps, you can leverage the budgeting features on the Kim app effectively. This method not only helps you keep track of your finances but also empowers you to make informed spending decisions.

If you have any questions or need further clarification, feel free to leave a comment below. Don’t forget to subscribe to our channel for more tips and tricks on financial management! Thank you for reading!