Integrate an "envelope" style budgeting system (edited)

David Lyons

I'm trying to transition over to Simplifi from Mvelopes, and it seems impossible to implement a basic envelopes approach to budgeting here.  I'd love to see Simplifi make it possible and easy to do steps 2-5 below:  

1. Calculate the net total of my accounts.  (Checking + Health Savings + Petty Cash – Credit Cards)

2. Allocate that total amount into my saving and spending envelopes according to my current envelop balances.  

3. Do the same for monthly income according to my monthly budget.

4. Allocate every subsequent expense to one of those envelopes.  (If there is not enough in the envelope, either don’t spend it or reallocate enough from another envelope.)

5. Roll over envelope balances at the beginning of each month.  

Coach Natalie

Hello @David Lyons,

Thank you for posting your suggestions to the Community!

I have gone ahead and turned this into an Idea post so that other Users can vote on it. Please be sure to add your vote as well! 

-Coach Natalie

nunuyorker

@Coach Natalie
the voting doesn't work

+1 on the idea. However, it'd be great for the "envelope" to be integrated with spending plan. I.e. persistence spending plan that doesn't reset every month/roll-over spending plans

Coach Natalie

Hello @nunuyorker,

Sorry about that; the voting should now be active!  

-Coach Natalie

ccrawford

Yeah this is a must-have. I probably won't stick with Simplifi for too long unless they add this. Envelope budgeting is truly the best way to budget.

J. Morgan

Yes please!

Jeppedy

I do something similar, and I think the key is the envelope rollover, right?  Perhaps also is that your budget amounts (what you put into an envelope) varies monthly. It's basically a monthly (weekly?) budget, that changes every month/week based on income and expenses and remaining cash, right?

Breraus

The envelope method is the tried and true way to keep from over spending. It’s also very simple.  Would love to see this capability added to the app.

Flopbot

@David Lyons

This would be a great addition to Simplifi!  Please do consider something like this.  Ideally, it would be something you can turn on/off, perhaps.

elmo218

Please add this features!!

Rossco1182

I completely agree with this.  I was using You Need A Budget (YNAB) and love this approach to budgeting.  When YNAB raised their prices, not a lot in the long run, I wanted to see if there were other options out there.  I looked around and did research and didn't really see anything that I thought I would like as much as YNAB but really liked some of the features of Simplifi so thought I would give it a shot.  As of today I have resubscribed to YNAB and will not be renewing my Simplifi unless this feature is added.  I didn't realize how beneficial and how much I liked that envelope method until I let it go. I would love to stay with Simplifi for all the other features it offers that YNAB does not but until this is an option it is a deal breaker for me.  Simplifi and Quicken I would love to come back and I will track this but for now I have to say I will use you later.

JerryBoor

I'm with Rossco1182. You state in some of your advertisements that you support envelope, zero-based budgeting, but I don't see it. You probably don't even monitor this, so we are speaking to the air!  I used Quicken for about 25 years and it only helped me know what I had ALREADY spent. It was practically USELESS for real budgeting!  Then I discovered YNAB, but the cost is getting ridiculous, though it is a great product. I thought maybe you had learned better and had the digital envelope budgeting method, but I sure can't find any info on how to set it up, IF you have it!  I will not be extending my 30-day free membership unless you show me how to get a workable plan on Simplfifi for envelope budgeting!

Flopbot

Hi @JerryBoor

While I don’t have a great answer to the ‘Envelope System’ request - I haven’t figured out one yet either - I did want to welcome you to Simplifi and share this post with you.  As a former Quicken Desktop user who’s considering Simplifi, you might find it helpful/interesting.  To sum up the post: The trajectory for Simplifi is up while Quicken Desktop declines.

https://community.simplifimoney.com/discussion/2881/whats-better-for-me-simplifi-or-quicken

Also, just to reassure you, Simplifi support definitely does a very nice job of monitoring and responding to questions and issues raised in this community.

[edited tag to remove email address]

Coach Natalie

Hello @JerryBoor,

Thanks for sharing your feedback with the Community!

Since this post is a request for an envelope style budgeting system, I'd suggest creating a separate post in the appropriate Community category outlining what specifically you'd like to see in Simplifi by way of budgeting so that we can take a closer look from there, and see what solutions we may be able to find for you.

-Coach Natalie