diff --git a/packages/desktop-client/src/components/sidebar/Sidebar.tsx b/packages/desktop-client/src/components/sidebar/Sidebar.tsx
index b8d59bbdec60b9c887dbceeb5ddfcb99f5bff3c9..bd6bc5335f4d80ea0e99e0028d5be731af39d817 100644
--- a/packages/desktop-client/src/components/sidebar/Sidebar.tsx
+++ b/packages/desktop-client/src/components/sidebar/Sidebar.tsx
@@ -187,7 +187,7 @@ function EditableBudgetName() {
             const inputEl = e.target as HTMLInputElement;
             const newBudgetName = inputEl.value;
             if (newBudgetName.trim() !== '') {
-              setBudgetNamePref(inputEl.name);
+              setBudgetNamePref(newBudgetName);
               setEditing(false);
             }
           }}
diff --git a/upcoming-release-notes/2383.md b/upcoming-release-notes/2383.md
new file mode 100644
index 0000000000000000000000000000000000000000..492edcc3b087ee52ab8593be4007a9de22d75c8a
--- /dev/null
+++ b/upcoming-release-notes/2383.md
@@ -0,0 +1,6 @@
+---
+category: Bugfix
+authors: [twk3]
+---
+
+Fix ability to rename budget in the UI.