Question 1

How to create a family budget?

Accepted Answer

It is very straightforward in TimelyBills to make a budget which is available and common across all family members. One just needs to create a family group and then the budget created by any members will be available to every other member of the group along with its details.

Question 2

Does the TimelyBills app support carry forward budget?

Accepted Answer

Yes, while creating a budget, you can just simply enable to carry forward the remaining amount to next month.

Question 3

Can I do zero-based budgeting with TimelyBills?

Accepted Answer

Yes, TimelyBills supports managing your budget using a zero based budgeting method. First create an income budget for your estimated recurring income then list down your recurring monthly expenses and create category level budget for these expenses using TimelyBills app. Now identify your short term and long term financial goals and create them within the TimelyBills app. Now check on the Budget summary page that all of your estimated income has been allocated between the planned expense budget and goals.

Question 4

Can I use the 50-30-20 budget rule with TimelyBills?

Accepted Answer

Yes, you can use TimelyBills to manage your budget using the 50-30-20 budget rule.List down all your monthly expenses and categorize them into needs, wants and savings. Allocate 50% of your income towards your needs, 30% towards your wants and 20% towards savings or long term financial goals

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