Tier Availability
Essential & PremiumWhat Are Spaces?
Spaces are Purpose Budget's way of keeping completely separate budgets within a single account. Each Space is an independent budgeting environment with its own accounts, transactions, categories, and budget allocations. This powerful feature lets you manage multiple financial contexts without mixing data or losing clarity.
Think of Spaces as separate budget files. Just like you might have different Excel files for personal and business finances, Spaces keep different budgets completely isolated within one Purpose Budget account. No mixing, no confusion!
What's Included in Each Space?
Every Space contains its own complete budget environment:
- Accounts: Checking, savings, credit cards, investments - all separate per space
- Transactions: Complete transaction history specific to this space
- Categories: Budget categories and category groups tailored to this space's needs
- Budget Allocations: Monthly budget amounts and available balances
- Category Targets: Funding goals specific to this space
- Recurring Transactions: Automated transaction templates for this space
- Budget History: All past budget months going back indefinitely
What's Shared Across All Spaces:
- • User preferences (currency, date format, theme)
- • Notification settings
- • Account authentication and login credentials
Why Use Multiple Spaces?
Separation of Concerns
- Keep personal and business finances completely separate
- Manage household budget separately from individual spending
- Track different financial contexts without confusion
Flexibility
- Test new budgeting strategies without affecting your main budget
- Create temporary spaces for specific projects or events
- Manage finances for different properties or ventures
Clean Organization
- Each Space has its own clear purpose
- No mixing of unrelated transactions or categories
- Easier to track and report on specific financial areas
Common Use Cases
Personal vs. Business Finances
Space 1: "Personal & Household" - Family budget, personal expenses
Space 2: "Smith Consulting LLC" - Business income, expenses, tax tracking
Why: Complete separation for tax purposes, cleaner bookkeeping, easier reporting
Rental Property Management
Space 1: "Personal Budget" - Your household finances
Space 2: "123 Oak St Rental" - Rental income, property expenses, maintenance
Why: Separate tracking for investment property cash flow, easier to see profitability
Freelancer/Side Hustle
Space 1: "Household Budget" - Regular job income, family expenses
Space 2: "Freelance Design Work" - Client payments, business expenses
Why: Track profitability and expenses for your side business separately
Major Project or Event
Space 1: "Regular Budget" - Ongoing household finances
Space 2: "2025 Home Renovation" - Project budget, contractor payments, materials
Why: Dedicated tracking for a time-limited project with significant spending
Testing New Strategies? Create a test space to experiment with different category structures or budgeting approaches without affecting your real budget. It's like a sandbox for your financial planning!
Creating Your First Space
When you sign up, Purpose Budget automatically creates a default Space for you. Here's how to create additional ones:
Step-by-Step: Create a New Space
- 1. Open Space Menu: Click your current space name in the header or sidebar
- 2. Select "Create New Space": Usually at bottom of space list or marked with "+" icon
- 3. Enter Space Name: Choose a clear, descriptive name like "Freelance Design Business"
- 4. Choose Starting Point:
- •Start Fresh: Empty space, build from scratch (recommended for different contexts)
- •Copy Structure: Copies categories from another space, no transactions (saves setup time)
- 5. Create: Click "Create Space" and you're automatically switched to the new space
- 6. Set Up: Add accounts, create/adjust categories, set targets, add recurring transactions
Switching Between Spaces
One of the most common operations is switching from one Space to another.
How to Switch
- Locate your current space name (usually in header or top of sidebar)
- Click on the space name to open the dropdown
- Select the space you want to switch to
- Page reloads with the selected space's data
⚠️ Important: Always Check Which Space You're In!
Before adding transactions, always verify you're in the correct space. It's easy to accidentally enter a personal expense in your business space (or vice versa). Look for the space name in the header before taking action!
Managing Your Spaces
Renaming a Space
Changed your mind about a space name? It's easy to update:
- Switch to the space you want to rename
- Go to Settings → Space Settings
- Update the "Space Name" field
- Click "Save" - the name updates everywhere in the app
All your data remains unchanged, only the name is updated.
Deleting a Space
⚠️ Warning: Deleting a space is permanent and cannot be undone!
When to Delete:
- Temporary project space no longer needed (renovation complete, event over)
- Test space you no longer use
- Duplicate space created by mistake
- Business closed or property sold
Before Deleting:
- Export data if you might need it for records or taxes
- Verify you're deleting the right space - double-check the name
- Consider keeping it if there's any chance you'll need the historical data
What Gets Deleted:
- ✓ All accounts in the space
- ✓ All transactions (all time)
- ✓ All categories and category groups
- ✓ All budget months and allocations
- ✓ All recurring transactions and targets
Note: Your user account, other spaces, and subscription information are NOT affected.
Best Practices
Use Clear, Descriptive Names
✅ Good Names:
- • "Smith Family Budget"
- • "ABC Consulting LLC"
- • "Oak St Rental Property"
❌ Poor Names:
- • "Space 1"
- • "New Space"
- • "Budget"
Limit the Number of Spaces
- More spaces = more overhead and complexity
- Only create spaces for truly separate financial contexts
- 1-3 spaces is typical for most users
- 4-6 spaces might be appropriate for complex situations
When to Use Multiple Spaces
✅ DO use multiple spaces for:
- • Personal vs. business finances (legal/tax separation)
- • Rental properties with separate cash flows
- • Shared household budget separate from personal
- • Freelance/side business with distinct income/expenses
- • Major time-limited projects (renovation, wedding)
- • Testing new budgeting approaches
❌ DON'T use multiple spaces for:
- • Different months or years (use month navigation instead)
- • Different family members in shared budget (use categories)
- • Different types of expenses (use category groups instead)
- • Tracking multiple accounts (put all accounts in one space)
- • Separating spending types (use categories, not spaces)
Working Within a Space
Initial Space Setup Workflow
- Step 1: Add Accounts - All bank accounts, credit cards, savings relevant to this space
- Step 2: Set Up Categories - Create category groups and categories tailored to this space's needs
- Step 3: Set Category Targets - Add targets for important categories, bills, and irregular expenses
- Step 4: Add Recurring Transactions - Set up income, bills, and predictable subscriptions
- Step 5: Start Budgeting - Allocate funds and begin tracking transactions
Maintaining a Space
- Daily/Weekly: Add transactions, reconcile with bank statements, check category balances
- Monthly: Review previous month, allocate funds for new month, adjust targets as needed
- Quarterly: Review category structure, consolidate or split categories, clean up unused ones
- Annually: Year-end review, update annual recurring transactions, assess if space still needed
Collaboration (Coming Soon!)
Purpose Budget plans to add collaboration features, allowing multiple users to access and manage the same Space together. You'll be able to invite family members, business partners, or roommates to collaborate on shared budgets with role-based permissions!
Tips and Tricks
Prevent Mistakes
- Always verify current space: Check space name before adding transactions
- Use transaction notes: If you add to wrong space, note it for easier correction
- Regular reconciliation: Compare space transactions with bank statements to catch misplaced transactions early
Space-Specific Customization
- Tailor each space: Different category structures for different purposes
- Business space: Might have "Client Revenue", "Business Expenses", "Tax Savings"
- Personal space: Has "Groceries", "Entertainment", "Bills"
- No forced consistency: Spaces are independent - use what works for each context
Exporting Data
- Before deleting: Export transaction history for records or taxes
- Regular backups: Export important spaces periodically
- Tax preparation: Export business space transactions for tax time
Frequently Asked Questions
Q: How many spaces can I create?
Most plans allow multiple spaces. Check your subscription tier for specific limits (typically 3-10 spaces depending on plan).
Q: Can I merge two spaces together?
Currently, there's no automated merge feature. You would need to manually move data (export from one, import to other) or keep them separate.
Q: Can I share a space with someone else?
Not yet. Collaboration features are planned for a future update. Currently, spaces are single-user only.
Q: Will transactions in one space affect another?
No, spaces are completely isolated. Budgets, balances, and transactions in one space don't affect others at all.
Q: Can I restore a deleted space?
Deletion is permanent. Contact support immediately if you deleted by mistake - they may be able to recover from recent backups, but it's not guaranteed. Always export important data before deleting!
Ready to Master Spaces?
Use Spaces to keep your financial contexts cleanly separated. Whether it's personal vs. business, rental properties, or project-specific budgets, Spaces give you the organizational power you need without the complexity.