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Deleting a budget is very easy. What's important to remember is that deleting a budget does not delete transactions visible inside. It's also very easy to re-create a budget.
To delete a budget, please first switch to the Budgets section of MoneyWiz and then right-click on the budget you wish to delete (or left-click while holding Control key on your keyboard if you have right-click disabled) and choose Delete.
Deleting a budget does not mean deleting transactions stored inside. If you wish to do that, please delete the transactions separately or consider deleting the entire account.