This blog will explain some terms when using Money Lover.
Wallet: Wallet is an account represent for a subject of specific source that generates income or expense. You can create multiple wallets to separate different sources and customize them to match your purpose. These are guides to help create a new wallet and transfer money between wallets.
Transaction: A change to your balance. It could be income transaction, expense transaction or non-reporting transaction (neither income nor expense transactions)
Balance: represent the calculated current available amount of fund in your wallet. Eg: available cash in hand, balance on bank account, etc.
Category: represent a group of similar source of income or similar type of spending. You can add, delete or even edit categories as your personal habits.
Budget: a targeted limit for one specific wallet’s all categories or one specific category. After using Money Lover for a while, you will understand more about your spending behavior, the typical value of expenditures, and their components. Based on such informations, you can create Budget accordingly.
Saving: a targeted plan to save money for one specific wallet. Money Lover provides user a tool to create and also track saving plan in very easy and convenient way.
Event: a specific financial event to track. Eg: wedding, travel, college, etc.