[Expensify] New for 2024: Budgets to keep your expenses in check

It's the season for reflecting on how last year went, and what can be done to make this year better. One common refrain is asking "how did I end up spending so much on that?" The answer is generally pretty simple: one small purchase at a time, with a steady trickle that added up faster than expected. With that in mind, we're very happy to announce "tag and category budgets" – the easiest way to catch these financial leaks before they flood your basement. The feature works exactly as its name implies: - Edit an expense category or tag (like, "Travel expenses" or "Project X"). - Pick a budget period (such as "monthly", or "yearly"). - Assign a total workspace budget, summed across all workspace members (in case you have multiple, though this works great for sole-proprietors with no employees as well). - Assign a per-member budget, to regulate each individual member's spend. Hit Save, and we'll let you know: - Whenever anyone spends over 50% (or whatever threshold you pick) of the budget for the first time this period. - And again once the budget has been 100% used. The notification is delivered via email, as well as in New Expensify to your workspace's #admins room, with a link taking you straight to the spend so you can update your forecast. It's an easy solution to a hard problem, and you can set it up three different ways: - Ask your account manager to set up a call to walk you through it. - Read more about [tag and category budgets online](. - Or just hit edit on your favorite tag or category and set it up. As the old saying goes: The best time to plant a tree create a budget was a long time ago. The next best time is right now. Give budgets a shot and make 2024 your best year yet! -david Founder and CEO of Expensify Questions? Ask me on Twitter X! [@dbarrett]( PS: [New Expensify]() is starting to get really good. It's already great at settling friend-to-friend debts, splitting bills between groups of friends, and chatting in groups across platforms (Android, iOS, web, with both your email and SMS contacts). But coming real soon here is full blown multi-organization enterprise chat and task management – not to mention a truly realtime take on financial collaboration inside and between companies. 2024 is going to be a big year for the Expensify community. Get ready! Sent by: Expensify, Inc. - 548 Market St #61434 - San Francisco, CA 94103 To unsubscribe, please click [here](