How to Set a Monthly Budget for Subscriptions with Thrift Meld
· Info Inlet
You have multiple subscriptions and bills each month, from streaming services and gym memberships to phone plans and utility payments. Without a clear budget, it's easy to lose track of how much you're spending, and you may end up paying for services you barely use.
This guide shows you how to use Thrift Meld, an iPhone app designed to track all your recurring payments. You'll learn to set a monthly budget, monitor your spending by category, and use AI-powered suggestions to cut costs and stay in control.
Add Your Subscriptions and Bills to Thrift Meld
To start budgeting, you first need to list all your recurring payments. Thrift Meld lets you add streaming services, gym memberships, cloud storage, phone bills, utilities, and any other recurring expense. You can set the billing frequency to weekly, monthly, quarterly, or yearly, and assign each to a category or create your own. This gives you a complete picture of your financial commitments.
- Enter the name, amount, and billing frequency (weekly, monthly, quarterly, or yearly).
- Choose a category like Streaming, Music, Utilities, or create a custom one.
- Save the entry. Repeat for all your recurring payments.
Set a Monthly Budget and Track Your Progress
Once all your subscriptions are added, you can set a monthly budget for your total recurring spending. Thrift Meld shows you how much of your budget you have used, with charts that break down spending by month and by category. This helps you see if you are overspending in any area and adjust your habits.
- Navigate to the budget section in Thrift Meld.
- Enter your desired monthly budget amount.
- View the progress bar and charts to see how your spending compares to your budget.
- Review category breakdowns to identify where you can cut back.
Plan Ahead with the Renewal Calendar
The renewal calendar in Thrift Meld displays all your upcoming payments in a monthly view. You can see exactly when each bill is due, which helps you plan your cash flow. You can also set reminders 1, 3, 7, 14, or 30 days before a payment is due, so you never miss a renewal or get surprised by a charge.
- Open the renewal calendar from the app menu.
- Scroll through months to see upcoming payments.
- Tap on a payment to see details and set a reminder.
- Choose how many days before the due date you want to be notified.
Optimize Your Spending with AI Savings Tips
Thrift Meld's AI analyzes your subscriptions and suggests which ones you could cancel or downgrade to save money. It also offers ideas for cheaper alternatives to services you pay for. By regularly reviewing these tips, you can trim your budget without losing the services you truly need.
- Go to the AI Savings Tips section in Thrift Meld.
- Review the list of suggested cancellations or downgrades.
- Consider the alternative services recommended.
- Take action by cancelling or downgrading directly from the app if you choose.
Tips
- Categorize each subscription accurately to get meaningful spending breakdowns.
- Set reminders 7 days before due dates to have time to review and cancel if needed.
- Check your budget progress weekly to stay on track.
- Use AI savings tips monthly to find new opportunities to save.
- Review your subscription list quarterly and remove any you no longer use.
Questions
Can I set a budget for each category in Thrift Meld?
Thrift Meld lets you set a total monthly budget, and it shows spending by category, but it does not currently support per-category budgets.
How do I add a yearly subscription that renews once a year?
When adding a subscription, select 'Yearly' as the billing frequency. Thrift Meld will track it and remind you before the annual renewal.
Does Thrift Meld send push notifications for upcoming bills?
Yes, you can set reminders 1, 3, 7, 14, or 30 days before a payment is due, and Thrift Meld will send a notification.
How does the AI decide which subscriptions to suggest for cancellation?
The AI analyzes your subscriptions and spending patterns to identify underused services or cheaper alternatives, then provides suggestions based on that analysis.
Thrift Meld is a powerful tool for taking control of your recurring expenses. By setting a monthly budget, tracking your spending, and using AI insights, you can stop overspending and make informed decisions about your subscriptions. Download Thrift Meld from the App Store and start managing your bills smarter today.