Jan 13, 2023
We know that the start of a New Year often means looking for ways to manage expenses. Whether this is you, or maybe you recently married, we wanted to provide some tips that will allow you to get the most out of the budgeting tool on the eMoney client portal. If you do not have an account set up, please reach out to Melissa Visbal and she will happily get you connected and set up!
Tips for Using the eMoney Budgeting Platform:
1. Link all your accounts. This includes checking, savings, retirement, investment accounts, credit cards, and other liabilities. Include HSA accounts if you have them. This is going to take some time and patience to complete, but once you have it done you will have a lovely live snapshot of your household accounts.
How to for how to add accounts in your eMoney client portal.
2. Explore the Spending and Budgeting features. Use this to assist you with the budgeting tool. I recommend starting with the last 30 days as your time frame. Then, you will start categorizing your expenses. You can also create rules for certain expenses, which you can find further instructions for this in the how-to.
Melissa and her fiancé set aside time once a week to go through the expenses since this seems to be the most manageable. Pick a time that works best for you. It will take some time and tinkering with for it to reflect what you are looking for, but just keep consistently checking the transactions and categorizing them.
Next, you can either create a single budget, giving you the flexibility to manually add spending categories and budgeted amounts, or you can select an auto-budget for you based on your average spending for the last six months.
If you’ve used the budgeting tool in the past, we would love to hear your input! Contact Melissa Visbal for more information.
Financial Planning Associate
Melissa came to Narwhal in the summer of 2018 following the completion of her master’s degree in financial planning from the University of Georgia, where she also earned her bachelor’s degree in consumer economics. Her interest in the field started with learning about consumer behavior, specifically its relation with complex moneymaking decisions. Melissa recently received her CFP® Certification in January 2021. Working with a CFP® professional can help you find the path to achieving your financial goals. Your goals may evolve over the years as a result of shifts in your lifestyle or circumstances such as an inheritance, career change, marriage, house purchase , or a growing family. Melissa is here to help you through that process. When she’s not working, Melissa enjoys cycling, cooking, and spending time with her beagle and two nieces.
At Narwhal Capital Management, you’re more than just a portfolio, and it’s not all about the numbers. Let’s start with a meeting about your needs and future goals.