This topic describes the systematic instruction to Add Budget. The user can set a budget for a particular period in this screen.

This function enables the user to set a budget for a particular period with a monthly frequency. User can create a budget for the set category. The option to continue with the same budget on a rolling basis is also available.

Budget can be set for this month, Recurring or Specific Duration. User can also view, modify and delete his created budgets. Once the set time is over budget for that duration gets expired, and user can then create another budget in the same category for any duration.

To create a budget:

1. Perform any one of the following navigation to access the Budget screen:
   • From the Dashboard, click Toggle menu, click Menu, then click Personal Finance Management. Under Budgets widget, click on the View All link, and then Budget.
   • In Search bar, type Personal Finance Management - Add a Budget, and press Enter.
2. Click Add a Budget to create a budget.
   The Add a Budget screen appears.

   Figure 5-3 Add a Budget

   
   

   
   Description of "Figure 5-3 Add a Budget "

   
   

   Note:

   The fields which are marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 5-3 Add a Budget - Field Description

   Field Name	Description
   Budget Category	Select a category for the budget that is to be created. This will list down all the categories maintained by the Bank and categories which are self-created by the logged in user.
   Budget Amount	Specify an amount that you wish to budget for the selected category of expenditure.
   Budget Period	Select an option to specify whether the budget is to be set for the current month, recurring on a monthly basis or to be for a specific duration. The values are: Current Month Recurring Specific Duration
   Budget Duration: Start From (Month)	Displays the current month. This field is non-editable. This field will be displayed only if you have selected the option Specific Duration from the Budget Period field.
   Budget Duration: Start From (Year)	Displays the current year. This field is non-editable.
   Budget Duration: End On(Month)	Specify the month till which you wish the budget to stop being considered.
   Budget Duration: End On(Year)	Specify the year till which you wish the budget to be considered. The budget will end in the month and year as you have specified in the End On(Month)and End On(Year)fields.
   Budget Frequency	The frequency of the budget will be displayed as Monthly. You will not be able to edit this value.

3. From the Budget Category list, select the desired expense category for which you wish to create a budget.
4. In the Budget Amount field, enter the amount for the budget.
5. In the Budget Period field, select the desired period for which you wish to set the budget.
   1. If the option Specific Duration has been selected:
      1. Specify the month and year that you wish the budget to be considered till in the End On(Month) and End On(Year) fields.
6. Perform any one of the following actions:
   • Click Submit to create budget.
   • Click Cancel to cancel the transaction.

   The success message of budget creation appears along with the reference number.