How to add a liability
How to add a liability
β
Keep tabs on what you owe by adding your liabilities to your net worth. Here in this guide, we'll give you the full run-through on how to add your liabilities to your net worth.
β
1. A quick summary
β
Your liabilities play an important role in calculating your net worth. With BudgetBuddie, you can effortlessly add and monitor your liabilities as they increase or decrease in value. To make things easy, you can connect accounts to track liabilities automatically or input values manually; it's as easy as that.
β
2. Adding a liability
β
To add a liability, simply tap the + symbol to the right of 'Your liabilities'. This will then bring you to the add-a-liability screen, where you can enter all your details.
β
β
3. Enter your liability details
β
Once you've selected to add a liability, you can then enter in all the details for it. You can choose to link your liability to an account or not by selecting the button next to 'Link to an account' at the top of the screen. You can then enter the name of your liability, along with a value, and add an emoji.
β
β
4. Linking a liability to an account
β
Link to an account: Yes
β
If you choose to link your liability to your accounts, once you select 'Yes' as the option, a screen will automatically show to link your liability to an account. Once you see this screen, simply select which accounts you'd like to allocate to the liability, then tap the exit symbol in the top right corner to return back to the add liability screen and continue adding your details.
β
β
Link to an account: No
β
If you choose not to link your liability to an account, then you can leave the option as 'No' and then you can enter in your value manually. Each time the value of your liability changes, you'll need to update this value in BudgetBuddie as well.
β
β
5. Add your liability
β
Once you've selected your accounts or manually entered your liability value and entered in your other details, simply tap on the button at the bottom of the screen to add your liability.
β
β
You're all ready to go π
β
Woohoo! You've just added your first liability to your net worth. If you run into any issues while setting everything up, feel free to get in touch with us at hello@budgetbuddie.co.nz.