Monthly vs. Annual Budget

Monthly Budget vs Annual Budget: What’s the Difference

Know when to zoom in and when to look at the big picture

Both monthly and annual budgets help you stay in control but they serve different purposes Lucky Friday gives you both so you can plan short term and long term at the same time.

How each one works

Your monthly budget shows what you’ve planned and spent for a single month It’s great for tracking daily spending adjusting for surprise bills and seeing how you’re doing right now

Your annual budget adds it all up It uses your default category budgets plus any overrides to show your planned spending across the full year It’s perfect for spotting trends setting yearly goals and understanding how one month fits into the bigger picture.

When to use overrides

Overrides let you adjust a single month without changing your whole plan

Say you normally budget $400 for groceries but in December you need $600 Just tap that month and set a one time override Your annual plan will update automatically but your other months stay the same

Use overrides for:

• Holidays or travel months
• One time events like birthdays or moving
• Catching up or dialing back if a category went over or under

It’s your budget so you can be as flexible as you need You’re never locked into one number.