How To Setup Your First Budget In Quicken?

Have you ever created a budget in Quicken? Well, if you have ever done it, you know how easy and quick it is. However, for the people not yet familiar with Quicken budget preparation, it may appear to be quite a mind-boggling task. In fact, you do not create or prepare a budget. What you do is that you enter the transaction and the software does much of the task. What you then require is to make selections or choices of your transactions and the budget gets ready. Though easy, it may take some time to learn the process if you are a tenderfoot in using Quicken. The following paragraphs will show you about how you can set up your first budget without undergoing any hassles.

Easy steps to set up first budget in Quicken

Based on your recurring expenses, Quicken will prepare a budget once you enter the transactions. You can then easily add or remove categories as per you requirements and match your needs as required. For creating a budget, you can follow the below steps:

  • Find and click ‘Planning’ tab. You will find this button at the top side of the application.
  • Once you click the above tab, you will find some options. Choose ‘Budgets’ button here.
  • Select ‘Budget Actions’ and then choose ‘Create new budget’.
  • You can then type the name of the budget in the space provide for that purpose.
  • You can then click ‘OK’. The defaults months for budget are already given in Quicken. If you wish to change the months, you can do so. For this, you need to click ‘Advanced Budget Settings’ and then choose ‘Use a different calendar’. You can then scroll down the drop down menu and select the month you wish to set.
  • You can now click ‘OK’ and save the budget.

It is, thus, quite an easy task to create a budget. However, if you have just started using Quicken, you may not necessarily start preparing the budget. You can wait until your Quicken has at least three months worth of transactions.

If you wish, you can also add or remove budget categories. Moreover, you can include the income and transfer. These are not created while creating a new budget. Much information is available online and you can learn a lot about Quicken budget creation and all the other features. And, in case, you encounter any complexities; you can access the Quicken Customer Support Professionals without any hesitation.

 

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