Most people have recurring payments, such as, for example, for extending their subscription to their favorite app, Moneon, or paying their rent. Making these payments manually every time takes too much time and is tedious. We have solved this problem by providing a recurring transaction option.
Creating regular transactions
Recurring transactions are currently only available in the iOS version of the app as a part of the premium package. To add such a transaction, go to the «Transactions» section and click on «Templates» in the lower left corner. Then select «Regular» Now in the lower right corner click on the bright button «Create regular transaction». Now, all that you have to do is configure everything:
- Specify the amount of the transaction, select a category, and add tags if necessary.
- Indicate the next transaction date. If this is not the same as the day when you create the transaction, then click «Other» and select the desired day in the calendar.
- Repeat mode. Here you specify how frequently transactions should be made. For subscriptions and housing payments, you can schedule transactions that occur once a month or once a year. You can schedule a tuition payment for your children to occur once every six months. If you buy the same magazine every week, then you can boldly set up a weekly transaction for that.
- Write notes for your transactions. Indicate what exactly a payment is for so that you can distinguish transactions from each other. For example, «travel» or «mobile banking».
- To make a transaction automatically based on the selected time interval in repeat mode, select «Automatic» at the bottom of the screen. Otherwise, as the payment date approaches, the payment will be included in a separate «Upcoming» list in the «Transactions» section. The decision about whether to add it or not will be yours.
Regularly scheduled transactions can also be created for your income. To do this, when adding a transaction, click on «Expense» and then change the value to «Income». Add a salary, a scholarship, or any other form of regular income that you receive. They will be automatically accounted for in the overall balance sheet.
Regular transactions will save your time and allow you to concentrate on more important things
There will be fewer and fewer expenses that you have to write down. This automation frees you to think more carefully about such discretionary decisions as to whether you should dine out at a restaurant or where it's worth going to the latest action movie. Impulsive purchases are hidden among your non-recurring expenses. They are worth getting rid of. Use your time wisely and set up recurring transactions. That will leave you with the time and energy for the hard struggle against unnecessary expenses 🙌🏼