How recurring balances work
A recurring balance starts with an amount you enter on a recurring transaction. For recurring expenses, the balance tracker is usually a payoff amount. Each payment can help you see progress toward zero. For recurring income, the tracker can act like a goal amount. Each deposit helps you see projected growth toward that target.Good uses
Recurring balances work well for:- Credit card payoff plans
- Personal loans
- Medical bills
- Buy-now-pay-later payments
- Savings goals
- Emergency fund deposits
- Vacation or holiday funds
Add a starting balance while creating a series
To add a recurring balance while creating a transaction:- Create a new transaction.
- Choose a repeat schedule.
- Enter the starting balance or target amount.
- Save the transaction.
Add or change a balance later
Open a recurring transaction and use the Balance Tracker section. Enter the starting balance or target amount, then save it. For expense transactions, CalBudget presents the tracker as paydown progress. For income transactions, it presents the tracker as growth toward a goal.Expense example: paying down a balance
Suppose you owe$2,500 and pay $250 monthly.
Create the monthly payment as an expense, then set the starting balance to $2,500. The tracker helps you see the payoff path attached to that recurring payment.
Income example: building a goal
Suppose you want to save$1,200 for a trip and transfer $200 each month.
Create the monthly transfer or deposit as income, then use $1,200 as the target amount. The tracker helps you see the repeated deposits in context.
Balance tracker vs. account balance
The recurring balance is not the same as the account balance.- The account balance is the money available in that account and drives the daily running balance.
- The recurring balance is progress attached to one recurring series.