MyRunway has introduced “Smart Budget”, a financial planning tool created to support income management for Africans. The platform describes the tool as an important step in its plan to help young professionals, salary earners and business owners organise their finances in a practical way.
“Most people don’t struggle because they lack discipline,” says Omotayo Kuye, Founder and CEO of MyRunway. “They struggle because they lack a structured method for dividing their income. Smart Budget finally solves that.”
“Smart Budget” is built around a Budget Strategy System that allows users to pick from known budgeting models or create a personal structure. The options include the 50-30-20, 80-10-10 and 70-20-10 rules. Users can also set up a method that fits their income flow. The aim is to make budgeting more aligned with personal situations rather than fixed templates.
The tool also uses a Zero-Based Budgeting method. Under this system, every naira must be assigned to a purpose. It removes unassigned income that often leads to unplanned spending during the month. This approach promotes clear planning and helps users link each part of their income to a specific need.
Another feature is the Needs, Wants & Savings segmentation. This layout shows users how their spending is divided. It gives a quick view of habits and makes it easier to adjust patterns, reduce waste and improve savings behaviour.
Unlike spreadsheets or manual templates, “Smart Budget” works through a web-based builder that runs on any device. Users do not need to download an app to access it. Within a short time, they can set up a monthly budget, view their spending plan and download it or receive it by email. The tool is free to use.
“Smart Budget” links with the Expense Tracker on the MyRunway mobile app. While “Smart Budget” sets the plan, the Expense Tracker follows daily spending. This creates a connected system that supports users as they work towards stable financial habits.
“This is how financial clarity becomes simple, and how Africans begin to build wealth, one smart decision at a time,” the CEO added.
