Learn how to use www.NextLevelMoneyApp.com Personal Finance Management System effectively
Welcome to www.NextLevelMoneyApp.com - Personal Finance Management System, a comprehensive financial planning tool based on the proven 50:30:20 budgeting rule.
This system helps you track your income and expenses, categorize them according to the 50:30:20 rule, and provides detailed reports to help you make informed financial decisions.
Financial success doesn't happen overnight—it's built through consistent discipline and smart decision-making. This system is your foundation for achieving long-term financial prosperity.
The journey to financial freedom begins with saving even small amounts regularly. By tracking your expenses and following the 50:30:20 rule, you'll start building your savings habit. Remember, every great fortune started with a single saved coin. As your savings grow, you'll have the capital needed to invest and multiply your wealth.
Once you've built a solid savings foundation, the next step is to invest your money wisely. Investments help your money work for you, generating additional income and building wealth over time. As your investments grow, your income increases, creating a positive cycle of financial growth. This system helps you track your savings allocation, making it easier to identify when you have enough to start investing.
When you're ready to invest, consider these options:
Always consult with a qualified financial advisor before making investment decisions. A professional financial advisor can help you:
Remember: All investments carry some level of risk. Professional guidance ensures you make decisions aligned with your financial goals and risk capacity.
You can customize the allocation percentages to match your personal financial goals. The system automatically calculates your balances and provides real-time insights into your spending patterns.
By using this system consistently, you're taking the first crucial steps toward financial independence. Track your progress, build your savings, and when ready, invest wisely with professional guidance to achieve your long-term financial dreams.
The Dashboard is your main control center where you can see a comprehensive overview of your financial status at a glance. It provides real-time information about your balances, spending patterns, and quick access to common actions.
At the top of the Dashboard, you'll find:
Quick transfer controls to move money between cash and bank:
Based on cash balance only, showing:
The Dashboard displays your current billing cycle dates (e.g., "Jan 1 - Jan 31"). This helps you track expenses within your monthly cycle period.
Shows a quick summary of your recurring expenses:
Two prominent buttons for fast access:
Three comparison cards showing current month vs previous month:
Note: All comparison values can be hidden/shown using the eye icon toggle button at the top right of the Monthly Comparison section for privacy.
Shows expenses for the last 3 days in separate cards:
Visual comparison charts showing:
At the bottom of the Dashboard, you'll find quick access cards to:
Record new income transaction
Record new expense transaction
View all transactions in detail
Manage allocation percentages
Manage monthly recurring payments
View financial reports and analytics
View income, expenses and net income details
Tips for Dashboard Usage:
Remember: The Dashboard is your financial command center. All information is updated in real-time as you add, edit, or delete transactions. Use it regularly to maintain financial discipline and achieve your budgeting goals.
Important: All expenses are recorded as Cash payments only. There is no bank payment option for expenses.
If you make a payment using a bank transfer in real life, you need to:
Tip: The system automatically calculates your remaining balance for each allocation type (NEEDS, WANTS, SAVINGS) based on your income and expenses. All expenses are recorded as cash payments to properly track wallet balances. The default allocation type is suggested based on the expense category, but you can always change it to match your actual spending intention.
The Ledger is where you can view all your transactions in a comprehensive table format. From the Ledger, you can easily edit or delete any transaction to correct mistakes or update information.
You can edit any transaction to correct mistakes, update amounts, change categories, or modify allocation types.
Note: When you edit a transaction, the system automatically recalculates all balances to reflect the changes. This ensures your financial records remain accurate.
You can delete transactions that were entered by mistake or are no longer needed.
Warning: Deleting a transaction is permanent and cannot be undone. Make sure you really want to delete the transaction before confirming. The system will automatically reverse the balance changes based on the original transaction's payment method (cash or bank).
The Ledger includes filtering options to help you find specific transactions:
The Ledger table shows comprehensive information:
Tip: Regularly review your Ledger to ensure all transactions are accurate. Use the edit feature to correct any mistakes immediately, and delete duplicate or incorrect entries to keep your financial records clean and accurate.
The system tracks two separate balances to help you manage your finances more effectively: Cash Balance and Bank Balance.
Cash Balance represents money you have in physical cash or readily available cash.
Bank Balance represents money you have in your bank account.
Important: Your wallet balances (NEEDS, WANTS, SAVINGS) are calculated only from cash balance. Bank balance is kept separate and can be transferred to cash when needed.
You can transfer money between your cash and bank balances using the Deposit and Withdraw options. This helps you manage your money flow between physical cash and bank accounts.
Deposit transfers money from your cash balance to your bank balance.
Use this when you deposit physical cash into your bank account.
Note: You can only deposit if you have sufficient cash balance. The system will show an error if your cash balance is insufficient. When you deposit, your cash balance decreases and bank balance increases.
Withdraw transfers money from your bank balance to your cash balance.
Use this when you withdraw money from your bank account to cash, or when you need to make a payment that was done via bank transfer.
Note: You can only withdraw if you have sufficient bank balance. The system will show an error if your bank balance is insufficient. When you withdraw, your bank balance decreases and cash balance increases. The money is automatically allocated to your NEEDS, WANTS, and SAVINGS wallets according to your budget allocation percentages (e.g., 50% Needs, 30% Wants, 20% Savings).
You have LKR 10,000 in cash and want to deposit LKR 5,000 to your bank account.
You have LKR 30,000 in your bank account and want to withdraw LKR 10,000 to cash. Your budget allocation is 50% Needs, 30% Wants, 20% Savings.
You made a payment of LKR 2,000 using a bank transfer to pay for groceries. Since payments are not done via bank in the system, you need to:
Result: The payment is properly tracked in your wallet balances even though it was made via bank transfer in real life.
Tip: Use deposits and withdrawals to maintain the right balance between cash and bank accounts based on your spending needs. Keep enough cash for daily expenses while maintaining savings in your bank account. Remember: if you make a payment via bank transfer, always withdraw the amount to cash first, then record the expense as a cash payment.
Recurring expenses are expenses that occur regularly (monthly, weekly, etc.). Setting them up helps you track and manage regular bills and payments.
Important: When a recurring expense amount changes for the current month, you must first edit the recurring expense before recording the payment.
This ensures the system correctly calculates the balance, especially when there are previous unpaid amounts.
When you receive a bill that includes both previous unpaid amount and new charges, you need to add the new amount to the existing balance.
Let's say you have an electricity bill recurring expense set up:
Steps to handle this:
When the bill amount changes but there's no previous unpaid amount, simply update the amount using edit.
Your internet bill amount has changed:
Steps to handle this:
Remember: Always edit the recurring expense amount FIRST before recording the payment when the amount changes. This ensures accurate balance tracking and prevents calculation errors.
Benefit: Recurring expenses help you plan ahead and ensure you never miss important payments. The system tracks your payment history and remaining balances automatically.
Common expenses are frequently used expense categories that you can quickly access for fast entry. They don't have fixed amounts or due dates, making them perfect for variable expenses.
Tip: Common expenses show monthly cumulative totals, so you can track how much you've spent on each common expense category throughout the month.
Quick Expense Entry is a fast and efficient way to record expenses without navigating through multiple pages. It's designed for quick data entry during your daily routine.
Shows all your configured common expenses with monthly totals. Simply enter the amount and click "Add" to record the expense quickly.
Displays recurring expenses with due dates and remaining balances. Expenses are grouped by category and filtered to show only those with due dates before your cycle end date. Click "Show All" to see all recurring expenses.
A standard form to enter any expense with category selection, amount, allocation type, and description.
Pro Tip: Use Quick Expense Entry daily to maintain accurate financial records. The faster you record expenses, the more accurate your financial picture will be.
Your profile settings allow you to customize your account information, budget allocation percentages, and month cycle preferences.
Customize your Needs, Wants, and Savings percentages:
Configure your billing cycle:
Update your account password for security.
Important: Budget allocation changes will affect how your expenses are categorized and how balances are calculated. Make sure to review your financial goals before making changes.
The referral program allows you to earn free subscription time by referring new users to the platform.
Note: Referral rewards are applied as free subscription time (days added). You must have at least one verified payment to be eligible to earn referral rewards.
The system provides comprehensive reports to help you analyze your financial data and make informed decisions.
View all your income transactions categorized by income type. See total income for selected date ranges.
Analyze your expenses by category. See total spending in each category and allocation type.
Detailed list of all income transactions with dates, amounts, and categories.
Detailed list of all expense transactions with dates, amounts, categories, and allocation types.
Compare your budgeted allocation percentages with actual spending. See if you're staying within your budget limits.
View daily expense totals. Identify high-spending days.
View daily income totals to track income patterns.
Comprehensive financial statement showing income, expenses, and net balance for selected periods.
New Feature: This report shows the balance status of all your recurring expenses for the current month/cycle.
The report displays:
Expenses are grouped by category with subtotals, making it easy to see which recurring expenses are fully paid, partially paid, or unpaid.
The Recurring Expense Balance Report is specifically designed to help you track the payment status of all your recurring expenses.
Tip: Check the Recurring Expense Balance Report regularly (weekly or monthly) to ensure all recurring expenses are paid on time. This helps you avoid late fees and maintain good financial discipline.
Tip: Regular review of reports helps you identify spending patterns, track progress toward financial goals, and make adjustments to your budget allocation.
To continue using the system, you need to maintain an active subscription. Here's how to make your subscription payment.
Important: If your subscription expires, you'll be redirected to the payment upload page. Make sure to renew before expiration to avoid service interruption.
Using www.NextLevelMoneyApp.com Personal Finance Management System provides numerous benefits for your financial well-being:
Join thousands of users who are taking control of their finances with www.NextLevelMoneyApp.com.