Banking and budgeting apps allow you to create a budget in a matter of seconds based on past data points instead of future data points. And that’s the problem: your budget will be wrong. See:
Why budgeting usually doesn’t work
Here are the main differences you need to need to know to become a forecaster:
2. Think in terms of Cash Flows
Setting a budget is easy. But how do you track it exactly?
But I’m used to setting budgets by category