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What major expenses do you need to pay in the coming year?

Coach Blake

How to Pay Off 50000 in Credit Card Debt Strategies and Advice

Towards the end of each year, I personally start looking at my financial goals for the upcoming year and what I would like to accomplish. This can include paying off debt, or saving for a large purchase. 2022, is the year for paying off debt for me. I plan to utilize many features in Simplifi to obtain that goal such as watchlists, planned spending, and splitting transactions (including cash) to get there.

We'd love to hear what expenses you are planning on paying for or off in the upcoming year and how you use Simplifi to achieve those goals!

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Comments

Flopbot

@Coach Blake

For me it’s not so much what big expense I’m going to make this year. As a new user of Simplifi in September 2021, I am really looking forward to just spending an entire year with the same software to see how it goes.

Are my finances more under control? Am I spending money more wisely? Have I learned the software better and am I maximizing its use? Am I spending less time keeping a database (I.e. Quicken Desktop) happy and more time living life?

Hopefully, that will put me on track to make big purchases in 2023.

SRC54

My big expenses are in May/November when I pay the insurance bill for two cars and a house. I don't really need to save up for them since I save every month by not spending. One of the things in which I am disappointed is the Spending Plan, which doesn't show me how much I save. (I know the Report Dashboard does). It seems to think that Savings is a transfer from checking to savings. I actually have a checking account that pays better interest so I just leave it there.

Likewise, I consider the transfer from my paycheck to my Retirement plan is a savings item too, but Spending Plan thinks it is an expense. Go figure.