Categories offers a way of tracking your money and categorizing your spending. BudgetBakers employs machine learning algorithms to sort your Records into main categories and subcategories.
All of your transactions will be categorized in this system. Check out the list of main categories below:
What are categories and how do I use them?
Categories help you see how much you’re spending on particular items, such as rent, groceries, or entertainment. When you add a Record in Wallet, assign a category that makes sense. Categorizing your spending helps you see where your money goes and make the necessary adjustments to achieve your goals.
How can I add, edit, delete, or rearrange Wallet's default categories?
Newly it is possible to rename and change icon of Wallet's pre-existing Main categories. You can even modify the nature of your categories with "must", "need" or "want" to show the importance of these categories. You can hide and rename Wallet's subcategories. You also have the ability to create your own custom sub-subcategory. See here for how to add, edit, or hide a subcategory.
Tip: To hide a Main Category, hide all of the subcategories under it!
Tip: You can also bulk edit your Records to apply a category to many Records at once!