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Getting Started

5 min read

This guide walks you through setting up Doughsense in about 15 minutes. By the end, you'll have a complete view of your finances and your first financial goal.

Free to start

The full planning engine is free with manual data: projections, all metrics, Monte Carlo and the solver, with no card. When you're ready for bank feeds and a self-maintaining plan, Plus is £10/month or £80/year, and a 14-day Plus trial starts the moment you connect your bank.

Step 1: Add Your Accounts (5 minutes)

Start by adding the accounts where you keep your money.

What You'll Need

  • Current balance for each account
  • Account type (savings, investments, or pension)

How to Add an Account

  1. Go to Net worth
  2. Press Add an account at the foot of the Accounts list
  3. Choose your account type:
    • Current - For everyday spending accounts
    • Savings - For regular savings accounts and emergency funds
    • Escrow - For holding accounts (e.g., solicitor escrow)
    • Investments - For stocks, bonds, and investment accounts
    • Pensions - For retirement accounts like DC, SIPP, 401(k) or IRA
  4. Enter:
    • Account name (e.g., "Chase Savings")
    • Current balance
    • Today's date as the balance date
    • Growth rate (select from presets like "Savings" or "Investments", or choose "Custom")
  5. Click Save

Quick Tip

Start with your main checking and savings accounts. When setting growth rates, use the presets provided (like "Savings") or enter custom rates. These should be nominal rates - Doughsense handles inflation automatically.

Step 2: Add Your Debts (3 minutes)

Now add any money you owe.

Common Debts to Include

  • Credit cards
  • Student loans
  • Car loans
  • Mortgage
  • Personal loans

How to Add a Debt

  1. Stay in the Net worth section
  2. Click Add a debt under Debts
  3. Choose the type:
    • Credit card - For revolving credit
    • Loan - For personal or auto loans
    • Mortgage - For home loans
  4. Enter:
    • Name (e.g., "Visa Card" or "Car Loan")
    • Balance: what you owe today
    • Interest rate (this is already the rate you pay)
    • Minimum payment: what you pay each month
  5. Click Save

Your Net Worth Reality Check

Once you've added your accounts and debts, check the Net worth section to see your net worth - this is what you own minus what you owe.

Negative Net Worth is Normal

If you're early in your career or have student loans, negative net worth is completely normal. It means you've invested in yourself (education) or your future (home, car). Track the trend over time rather than worrying about the starting number.

Step 3: Set Up Your Monthly Budget (5 minutes)

Understanding your cash flow is crucial for reaching your goals.

Add Your Income

  1. Go to Spending, on the Budget view
  2. Press Add income at the foot of Income
  3. For your salary:
    • Name: "Salary" or "Paycheck"
    • Amount: Your take-home pay
    • Frequency: How often you're paid
    • Source: External
    • Target: Cash Flow
  4. Press Create
Gross or Net? Your Choice

You can enter income as gross or net using the toggle on the income form. If you enter gross, add line items under Income Breakdown (tax, NI, pension) to model your deductions. Doughsense will calculate your net pay automatically. If you enter net, you can still add line items to give Doughsense a more complete picture of your income for metrics like debt-to-income ratio. Either way works. Start simple and add detail when you're ready.

Add Your Essential Expenses

Start with your must-pay bills:

  1. Go to Spending, on the Budget view, and press Add expense at the foot of Categories
  2. For each bill, enter:
    • Name (e.g., "Rent", "Electric Bill")
    • Amount
    • Frequency (usually monthly)
    • Target: External
  3. Common expenses to add:
    • Housing (rent/mortgage)
    • Utilities
    • Insurance
    • Groceries
    • Transportation
    • Debt payments

For any debt payments:

  1. When adding the expense, choose the liability as the target
  2. This helps Doughsense track your payoff progress

Step 4: Create Your First Goal (2 minutes)

A good starting goal is an emergency fund.

Why Emergency Fund First?

An emergency fund covers unexpected costs without derailing your other plans. Start with 3 months of expenses as a target. If that feels ambitious, start with £1,000 and build from there. If you want more cushion, aim for 6-9 months.

Setting Up an Emergency Fund Goal

  1. Go to Future, then Milestones
  2. Press Add milestone
  3. Enter:
    • Name: "Emergency Fund"
    • Description: "Save 3 months of expenses"
    • Polarity: Achieve (something you want to reach)
    • Type: Criteria-based (triggered when conditions are met)
  4. Set the condition:
    • Choose your savings account
    • Set to "greater than or equal to"
    • Enter 3x your monthly expenses
  5. Click Save

Check Home

Return to Home to see:

  • When you'll reach your goal
  • How your finances will look along the way
  • Your progress updated automatically

Step 5: Explore Your Financial Future

Now that you have the basics set up:

Start at Home

  • See your net worth trend
  • View your monthly cash flow
  • Track goal progress

Explore the Timeline

  • Click any future date to see your projected finances
  • Make a new plan to try a change, and see its curve beside your base plan's in Compare plans

Review Your Metrics

  • Check your savings rate
  • See your debt-to-income ratio
  • Monitor your liquidity

What's Next?

You now have a solid foundation. Here are some next steps:

  1. Add More Detail - Include all your accounts and expenses for a complete picture
  2. Set More Goals - Try debt payoff or saving for something special
  3. Try a change in its own plan - Make a new plan and see what a change would do to your projections before you make it in your base plan
  4. Update Monthly - Keep your balances current for accurate projections

The more complete your data, the more accurate and helpful Doughsense becomes. Take your time and build up your financial picture step by step.

Try it in Doughsense

Put this guide into practice with your own finances.

Coming soon

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