When you sign a financial management plan, you'll have budgets or categories that you need to track spending for.
There will be agreed amounts that can be spent on those certain categories as well.
SpendAble makes it simple to program, track and report on financial management plans. Here's how:
Creating budgets:
1. Navigate to the Wallets Tab on the left hand menu bar
2. Click the 'Add Wallet' button
3. Name the wallet — this should be one of the categories outlined in the financial management plan (i.e. discretionary, groceries etc.)
4. Add a description (i.e. Use this wallet for groceries)
5. Select the participant this wallet will belong to
6. Select whether the wallet will be a General Wallet (a wallet that a SpendAble card is used to pay from).
7. Click 'Save'
8. Repeat this step for each spending category. The participants wallet list will then look something like this
Setting spending rules for the Financial Management Plan
In each wallet, you can find the 'Wallet Preference' widget.
You can choose whether cash out is allowed, set time based spending limits, and block categories if you don't want money spent on specfic items (such as alcohol or cigarettes etc.)
Click the pen icon in the top right corner of the widget to update these settings in your wallets.
