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:

Think in terms of cash flows

2. Think in terms of Cash Flows

What should I plan ahead?

Track your spending pace

Setting a budget is easy. But how do you track it exactly?

2. Budget Line

But I’m used to setting budgets by category

Forecasting is a decision-making technique

Scenario forecasting and planning