💡 Setting up your budget only take 2 minutes thanks to Cleo’s intelligent AI. You’ll need to sign up, log in and connect your bank in order for this thing to work.

Whether you have a monthly or paycheck budget, the budget tool gives you a spend limit that tells you what you can "afford to spend" in that budget cycle. It calculates this by looking at any income and subtracting upcoming bills or subscriptions. Your spend limit is also broken down by day, if you're into that sort of thing.

Want to take it a step further? Add category limits (aka category budgets) so you can really target your spending trouble areas.

You'll get notifications whenever a new budget starts. In this notification, you'll receive the Budget Rewind. This looks at your top spends and habits from the last budget cycle, helping you thrive in your new budget.

To set up your first budget, either head to the budget tab or just say "budget" in chat and follow the directions.

It’s recommended you use the bank account you do most of your spending in i.e where income gets paid, bills come out and general life things. And yes, you can connect to more than one bank (the more the better). Cleo will work her magic and start identifying what transactions do what in the background 🔮

If don't have a budget yet, go to the budget tab. Under Next Steps, tap on each icon to start customizing your budget:

Here's what each icon under Next Steps means:

Income 💸 – select your latest paycheck(s) so Cleo knows when you get paid

Bills ☠️ – check your bills and subscriptions are correct to track what’s coming out

Spend Limit 🙅‍♀️ – set a spend limit to tame the overspending beast

🔓 Customizing these steps will unlock your "left to spend" and "left per day" amount

Setting a spend limit is the bit that makes this whole thing come together. It creates a set amount to spend per day (excluding bills). Set your spend limit yourself, or get one suggested to you based on recent spending.

There are two options when it comes to budgeting: you can choose a monthly budget or a paycheck budget (see which one works best for you)
​

No budget is the same ✨ We’re all unique and our budgets should be too ✨

Here’s some FAQs that can help you get the best out of Cleo:

Income is where it all starts. If you have a regular paycheck, add it to your budget upon setup so you can track how much is left to spend after all the bills and subscriptions come out.

No problem. If you have more than one income, it's recommended to set up a monthly budget instead of a paycheck budget. This will help you keep up with your monthly bills and subscriptions (learn more on why do I need a monthly budget).

That’s absolutely fine. You can still have a budget. It’s best you stick to a monthly budget rather than a paycheck budget. Learn why do I need a monthly budget.

Bills are an important part of the budget tool. Your spend limit is calculated by subtracting bills and subscriptions (basically, any committed payment) from your income, so you don't have to worry about doing the math yourself.

Cleo is great at identifying bills and subscriptions but sometimes, some slip through the net (or... have yet to be paid) 👀

Once your bill or subscription has come out of your account, follow these steps:

Yes. Cleo has its very own category for excluded transactions which you’ll find living at the bottom of your budget tab.

Here’s how you can add a transaction into the Excluded category:

If you don’t know the category your transaction sits in, here's how to check:

Any transactions under the Excluded category will not be considered in your budget or in any modes like Roast Mode or Hype Mode.

Set a spend limit to see how much you should spend per day (excluding bills) to stay on budget. You can set your spend limit yourself, or get one suggested to you based on recent spending.

Add a spend limit when you first set up your budget. If you want to come back to it later, find it under the Next Steps section in the budget tab.

Here's how to edit your spend limit from the budget tab:

Categories are automatically set up in Cleo, which means one less thing for you to worry about. Here are ways you can create your own or move spends around 📦

Here's how to add a custom category from the spend tab:

Here's how to add a custom category from the budget tab:

Here's how to recategorize a transaction from the spend tab:

Here's how to recategorize a transaction from the budget tab:

Yes, you sure can. Category budgets are great for when you want to set limits on specific areas of spending, like shopping or entertainment.

Here's how to set up category budgets:

If you want to set a category as Essential Spending or Other Spending, here's how:

There are two options when it comes to budgeting: monthly or paycheck.

A paycheck budget means your budget resets each time you get paid. A monthly budget will reset per month (on the 1st of every month).

For most people, paycheck budgets are the better choice as they help you monitor your money closely, whether your paycycle is biweekly, monthly, or infrequently. Don't forget: if you want a paycheck budget, you'll need to add your income to the budget tab.

Bigger bills normally come out once a month (like rent, mortgage, etc) but it’s the little expenses like transportation, groceries, etc, that can really eat into your money.

Budgeting per paycheck can help you set aside money for that big bill that comes out at the end of the month, so you’re not left financially stranded at the very last minute.

Monthly budgets are more traditional but work well for what they do as they can be easier to follow, especially if you’ve irregular income or no income at all.

So, which one is for you?

A paycheck budget is suitable for those who have:

A monthly budget is suitable for those who have:

The great thing about Cleo is she does all the work for you. Say goodbye to building boring spreadsheets and hello to sassy saving. But although she has the power to provide, it’s up to you to stick to it.

So, if you want to have a budget that makes a difference, here’s a few tips how you can do just that:

You can’t budget without knowing where your money goes... don’t be shooting for the stars here. No, I don’t mean living off of a buck but at the same time, you can’t save if there’s no money left.

This is a GREAT rule to follow if you’re unsure of how to well, budget. Splitting your spending into percentages can easily break down the wants, the needs and the savings:

Remember, savings should be for paying off debt or if you are lucky to be debt free, focusing on larger money goals like a new car, holiday or endless burritos.

Sounds obvious but you don’t realise how much your debt is spiralling into a tornado of more and more debt. A $10 overdraft can easily turn into $100 fees in the blink of an eye (curse you banks). The sooner you pay it off, the easier it’ll be to your future self to get back to a healthier financial you.

It's so easy to forget why we budget, but it’s goals that drive us across the finish line. Close your eyes and imagine sipping on a piña colada in Thailand while Ryan Gosling fans your face and tells you yes you do have eyes like swimming pools and your ex was wrong you do look great in yellow...

Don’t be so hard on yourself. Every month is different. Some are thrifty, some are spendy. If you stumble at the first hurdle, dust yourself off and slay another day. Sometimes we want that piece of cake; have it. Just make sure you balance life’s unpredictability and keep focusing on the WHY. You totally got this 🙌

Having issues with your budget? Type "budget help" into chat to get first aid on your budget needs ⛑, including things like inaccurate bills, how to reset your budget, why you might be overbudget/underbudget, and more.

Want more? Check out our blog for all things personal finance.