Any ideas as to why my Watch list projection would be two to four times higher than the monthly average? There are no large transactions in this category that should affect this number.
I don't think projected refers to the monthly amount but for the rest of the year, but I admit I am not sure.
Check to see if you have any recurring reminders for later in the year. I know those affect my projections. Just a thought.
I think the watchlists just assume that you will spend at the same daily rate for the rest of the month as you have so far.
So, in your case, $3259.37 in 8 days is $407.42 a day, times 31 days is $12,630.05.
This doesn't work well if the watch list is for spending (like for certain bills) that is concentrated near the beginning of the month. There is at least one thread on that somewhere suggesting changes, but I can't find it right now.
Here is what it says in the Support article:
"The "Projected" amount displayed for Watchlists is calculated in two steps. First, it divides the "This month" total by the number of days that have passed in the current month to determine your average daily spending, including upcoming Reminders.
Next, this daily average is multiplied by the number of days remaining in the month, and that amount is added to what you’ve already spent to produce the projected total. "
I only look at the actual numbers in the watchlists I use since I find the projected to be fairly useless. You can read the entire article here:
https://support.simplifi.quicken.com/en/articles/3472367-using-watchlists-on-the-web-app
So @dryheat is correct.
For what it's worth, here's my watchlist that compares my wife's spending with mine (hobbies, beverages, etc.). She drinks beer and I drink wine, and wine costs more, darn it!
Because she spent more so far this month, she's projected to spend even more. LOL. Nope. Neither one of us is going to spend much more than already spent. So I pay no attention to the projected numbers. The monthly average and year to date are of more use to me. Even the Spent So Far is off because my main expense for tennis is an April tournament at the Gulf, which is already in there. For the rest of the year, it's just court fees, tennis balls and any equipment needs I might have.
BTW, I want hers to be more than mine since then she cannot complain. 😉
@DryHeat You are correct. (See below). I think it would be best if they removed the Projected Amount, because it will most often be wrong.
