Money in Cobudget
Where does the money I see in Cobudget sit?
Cobudget is a governance and decision making tool for how to spend funds, but no real money actually runs through Cobudget. When you start a new group, you need to define where the funds represented in Cobudget are being held. In most cases, groups have a special bank account where they keep the funds they are collaboratively spending.
Can I connect Cobudget to a real bank account?
At the moment, there is no way to sync Cobudget directly to your bank account. Cobudget is a decision-making tool only. The funds that you see in your group may stand for real money, but there is no actual money in Cobudget.
Are alternative currencies available for Cobudget?
Cobudget currently lets you select from a wide range of currencies when starting your round.
If your currency is missing, get in touch and we will add it on an on-demand basis.
Can we use Cobudget with time instead of money?
This is a common question! Since money in Cobudget is not real, you can of course decide to use the numbers to reflect time instead of moeny. However, Cobudget is not ideally designed to deal with time at the moment, so you may want to look into using a timebanking tool, or do simple dot-voting with a tool like Loomio.