Starting the application
After the first run of GetRich application there will appear a blank screen of the control panel the task of which is to show you the current financial situation. Further in the course you will see how to build your first budget.
Adding expenditure and revenue
The first stage of planning the budget is to build a list of expenditure and revenue that we will apply to the plan later.
To add expenditure click the plus icon on the BACKLOG list
A window popped up. Write the name of the item in it. Write the amount of expenditure in the field. The value must be preceded by ‘-‘ (minus). If you want, you can choose or create a category and at the end approve all changes with OK button
Repeat the activity to any other expenditure.
You add revenue exactly the same way as expenditure only in the VALUE field write a positive value so don’t precede it with a minus
Budget should be planned at the beginning of a new month because every month is a bit different e.g. unplanned expenditure appears. That’s why every month in the app appears as an empty board and common Backlog.
To plan the budget for a month it is enough to drag and drop items from Backlog to the appropriate weeks. During this activity weekly recapitulation of expenditure and revenue is updated and thanks to that you can quickly see how budget is balanced in a given month.
Cyclic expenditure on the example of food shopping – to add a cyclic value to Backlog click the familiar plus icon on Backlog list and then in the pop-up window give the name of the expenditure and amount that you want to devote to it this week. Later drag this expenditure to particular weeks and if need be adjust the amount of the expenditure.
If you made a payment for any expenditure, open an indicated plan position (Edit budget item window will pop up).
We insert the date of the operations, click Save and then provide the amount that for expenditure must be preceded by a minus, click Save again and you can additionally make some notes. Save them and approve the total window with OK button.
Following cyclic expenditure
It doesn’t differ from regular expenditure except that in this case many operations will be added and in the budget board there will appear information on how much you can still spend.
Adding a dream
Thanks to adding your dream the application will follow how much you have set aside and how much time is left to collect the rest of the money.
To define your financial dreams/goals, i.e. expenditure that requires greater capital than you are able to spend in one month you should click the plus button the Dream list, paste the address of a photo with your dream and save it by clicking “Save”. Approve everything with OK button
The dream will appear on the right-hand side on the dream list and on the left in Backlog, you can drag it from Backlog to the board, just like you did it with expenditure and revenue
If you pay any amount for your dream (in the expenditure window) then on the dream list there will appear an amount that you have paid in for your dream and how much time is left until it will be fulfilled if you pay in similar amounts).
If in a given month you need to do some special shopping e.g. a winter jacket, you can add such an item on the board and mark it as cart items so that in the control panel you will see it together with the amount that you can spend on it.
Mark it a cart item
Your saved purchase – Winter jacket
1. Apart from dreams the application takes care that you will have a financial buffer in case of losing a job or any other random event. The app counts up to date the amount that you need to set aside in order to be able to survive without income for at least 6 months.
Balancing the budget
The last stage of planning budget is balancing it i.e. making sure that you won’t end the month overdraft.
Balancing takes place in real time by using 4 colors. Green means that the expenditure is not endangered. Yellow means that the sum total of expenditure after income approaches 80% and that means that the budget is already very tight. Red means that the sum total of all expenditure after income approaches 100% so there is a risk that there may be not enough resources if an unexpected expenditure pops up. Last color, grey, means that you won’t be able to pay the expenditure with the received income. If you want to pay for the expenditure, then the previously saved resources will be used.
End - control panel
It is the screen of the control panel that appeared during budget making. You will find here information about revenue and expenditure, per cent of budget fulfillment and the volume of the financial buffer.
In the notifications section you will find results of analysis of your financial situation and suggestions what you can do. In the described example there appears a suggestion that you have too little security, so if you lose a job, your family will be without means to live.