Within Glass, PayBooks are folders where all the transactions of a particular topic are saved, yet, when it comes to managing your personal finance, they are so much more than that. They can be useful both for personal and business, though in this post we will focus on the former.
In your personal finances, you decide what’s important. PayBooks can be whatever you choose them to be; they can be the consolidated monthly expenses of your car, or of everything you ordered through UberEats. You can analyze – and classify – your expenses by brand, by function, by goals, or by any parameter you choose. PayBooks are categorizations that work because you are in control.
Classify your transactions
Glass classifies your bank transactions automatically into different PayBooks that you can personalize, and add new transactions, through tags. The possibilities are endless because one transaction can exist in several PayBooks, and you can create as many tags as you like, and as many PayBooks as you need.
Your money, your rules
In Glass, everything bought at the, say, Nike Store, would be automatically classified in a PayBook of that brand. However, you could also create another PayBook named Running and tag all those purchases, plus your protein powder, gym membership, or the registration to that half marathon you ran this month. Just like that, you know how much your passion costs.
Clarity for better control
PayBooks work for more than your hobbies. If you somehow cannot understand where your money goes, a PayBook for your fixed expenses might just be the thing you need. All the transactions made on groceries, rent, utilities, your mobile phone, and more, can be visualized in just one place with graphics that help you understand the relation of your income and your expenses. With this information being so accessible and under your control, you can start making changes and smarter decisions, if you need.
If you share expenses with a roommate, a partner, or your parents, you can create shared PayBooks. Either for actively updating and modifying information collectively, or just for sharing it. Let’s say you live with two other people. Through shared PayBooks, you could keep track of everything each one pays, being always informed and avoiding misunderstandings. If this week you covered the Internet bill, by simply tagging this transaction, your roommates will know how much they have to pay you back. With so much transparency, shared expenses are sure to become much smoother.
Remove the guesswork; with Glass the clarity of your personal and interpersonal finances is absolute.
At the end of the day, PayBooks are whatever you choose them to be; they might appear to be a bit complicated in the beginning, but soon you’ll realize that they are your best allies for organizing your finances and achieving your goals.