New: Recurring transactions are here!

The past couple of months might seem quiet at Decent Budget, but when you look inside it couldn’t be further from the truth. Improvements and various experiments are cooking here all the time, even while everything—building a product and running a business—is done part time by a single person (me)!

But I’m back with something new, and that’s a big one: recurring transactions are now available in Decent Budget!

Recurring transactions and manual entry?

It might seem contradictory to have a strong stance about entering transactions manually and at the same time introducing a way to automate that, but let me explain why these systems tend to complement each other without losing any psychological benefits of manual entry.

Manual entry is about transactions that are actionable, where you can either reduce their amount or prevent them from happening in the first place. It should make it tedious to enter them every time we buy something. This is how we keep ourselves informed about our spendings.

Recurring transactions are different: they have a specific timing and happen continuously. They also tend to be mandatory (like rent, bills, insurance payments, etc.), so you can’t really do anything about them. Entering them over and over takes time, but it doesn’t add much value.

I believe that recurring transactions will ease the burden of unactionable transactions, leaving for us to enter transactions that can make a difference.

Creating a new recurring transaction

When you open transactions page, you’ll see at the top right “Recurring transactions” button.

To add your first recurring transaction, click “New recurring transaction“.

Enter your transaction information. Keep in mind that you can leave transaction amount empty if it changes every time.

Save your transaction and it’ll appear in recurring transactions list.

Inside transactions page

If you’re having recurring transactions this month or in the next 7 days, you’ll see recurring transactions section at the top of your transactions list. All transactions that will occur in the near future will have label “Upcoming”.

If transaction has the amount, it’ll be created automatically on the specified day. If that payment occurred earlier, you can click on the upcoming transaction, change the date and save immediately. Transaction will be created and another will be scheduled for the next cycle.

Those transactions that have varying amount (when creating, amount input was left empty) and are due will have label “Pending”, which means that they need your action. You need to click on that transaction, enter the amount and save.

If for any reason transaction didn’t occur (for example, you received bill of 0.00 because of overpaying last month), you can skip it: click on the upcoming/pending transaction and click “Skip this transaction“. Transaction will disappear from the list and be scheduled for the next cycle.

Tell me what you think!

It’s the first iteration of recurring transactions. I kept it simple for now, but it opens interesting new possibilities in the future.

As always, your feedback is very helpful: you can ping me on Twitter @decentbudget or write me directly at rb@decentbudget.com.

Happy budgeting!