MyRunway launches web-based budgeting tool that lets users assign every unit of income to a specific purpose

Smart Budget supports multiple budgeting frameworks and connects to MyRunway's existing expense tracking app, creating a linked system for income planning and daily spending monitoring

MyRunway, a personal finance platform focused on African users, has released Smart Budget, a free web-based budgeting tool designed to help individuals structure how they allocate their income each month. The tool requires no app download and runs on any device through a browser.

Smart Budget is built around a Budget Strategy System that allows users to select from established budgeting frameworks, including the 50-30-20, 80-10-10 and 70-20-10 rules, or configure a custom structure that reflects their specific income pattern. The tool also incorporates a zero-based budgeting approach, where every unit of income is assigned to a defined category before the month begins, leaving no unallocated funds that might be spent without a plan.

A Needs, Wants and Savings segmentation view gives users a breakdown of how their income is divided across spending categories, making it easier to identify patterns and adjust allocations. Once a budget is set up, users can download it or have it sent by email.

Smart Budget connects to the Expense Tracker feature on MyRunway's mobile app. The budgeting tool sets the monthly allocation plan, while the Expense Tracker monitors day-to-day spending against it, creating a linked system across both planning and execution.

"Most people don't struggle because they lack discipline. They struggle because they lack a structured method for dividing their income. Smart Budget finally solves that," said Omotayo Kuye, founder and CEO of MyRunway.