After you create and verify your Hugo account, onboarding builds the minimum structure needed for a useful Overview. It has four steps.
Step 1: About you
Enter your first name, last name, country, and Default currency. The default currency is the unit Hugo initially uses for totals and reports. Individual accounts and assets can still use any of Hugo’s supported currencies.
Step 2: Your financial goal
Choose the goal that best matches what you are working toward:
- Grow my wealth
- Reach financial independence
- Buy a home
- Build financial security
- Maximize investment returns
- Reduce financial stress
- Prepare for retirement
Hugo uses this choice to prioritize relevant metrics on the Overview. You can optionally add a target amount, target currency, target date, and the value against which progress should be measured.
Step 3: First institution and account
Enter a bank or broker, then create one account held there. Choose its product type, currency, current balance, and the date of that balance. Product type automatically suggests the asset class, liquidity, and whether deposits and withdrawals should be tracked.
Step 4: Income and expenses
Add at least one recurring income and one recurring expense. For income, enable Passive income when the item is rent, dividends, interest, or another passive source. These values feed the Cashflow Simulator and several financial metrics.
After onboarding, Hugo opens the Overview and offers a guided tour. You can add the rest of your financial structure from the navigation.