Are recurring bill/subscription added to a category in planned.

DannyB
DannyB Member ✭✭✭
I have a sub category named "Books & Videos."  I have a category in Planned spending for Books & Videos and I have subscriptions to several streaming services and to e-/audio book services that are categorized Books & Videos.

1. When Simplifi recognizes and records a recurring transaction in Bills and Subscriptions for one of these subscriptions, will it also add the expense to the Books & Videos category in Planned spending?  And when I purchase a book or rent a video and categorize that expense "Books & Videos" will Simplifi recognize that expense and add it to my Planned Spending category?  Or should I come up with a unique name for the Planned Spending to cover these purchases?

2. To keep my budget/spending as accurate a possible should I reduce the amount in my Planned Spending category by the amount that I am spending under Subscriptions for these services?

Thanks
Danny 
Simplifi user since 01/22
 Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
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Best Answer

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Answer ✓
    Hello @DannyB,

    Thanks for posting!

    The answer to your first question is actually no. The Spending Plan is designed to not double-count transactions, so once a transaction is linked to a Recurring Reminder, it will be counted towards the Bills and Income section and not the Planned Spending expense of the same Category.

    However, any additional spending in that Category outside of transactions that are linked to a Recurring Reminder will be counted towards the Planned Spending expense. We have a Support Article available here that goes over this specific aspect of the Spending Plan. 

    With that said, you may consider reducing your Planned Spending expense by the amount that's covered as Recurring Bills/Subscriptions. 

    I hope this helps! 

    -Coach Natalie

Answers

  • jorder
    jorder Member ✭✭✭
    Hi Danny - the answer to Q. 1 is yes. If properly categorized and recognized, Simplifi will take the spending into consideration and reflect it in your budget. As for Q. 2, no you don’t need to reduce the amount, it should happen automatically, again, if properly categorized and recognized. If you spend $10 more than your planned spending for books, your planned spending will reflect the overspending, and your overall Spending Plan reflects this is that well. The trick is to ensure that you use the same category across Planned spending and Subscriptions - it you do, it all syncs properly across the various lists. 
  • DannyB
    DannyB Member ✭✭✭
    @jorder thanks for taking the time to read and respond to my questions.  I appreciate your feedback and insights into Simplifi.  I have enjoyed the process of creating my budget in Simplifi and especially the freedom Simplifi gives me to create and manage spending categories and sub-categories.  My questions are not a huge issue for me because our monthly inflow exceeds our monthly outflow and a number of my budget categories have a reasonable bit of padding.

    The reason I posed the question is because of how Simplifi's Spending Plan appears to be set up: Since the spending plan takes into account how much is anticipated for monthly bills, subscriptions and savings for my savings goals already, I don't want to include money in my spending plan that is already accounted for in bills, subscriptions and savings. My kids accuse me a being a bit "anal" (I prefer fastidious or discriminating :smile: ) and this can be an instance when my fastidiousness rears it's frustrating head.

    Anyway, as I said, this isn't a huge deal and what you shared makes sense.

    Again, thanks.
    Danny 
    Simplifi user since 01/22
     Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • jorder
    jorder Member ✭✭✭
    Ah, I see what Natalie’s is saying. I read the question as in “will Simplifi sync Planned spending with Bills and Subscriptions?” and avoid duplication. Yes, it will! Or no, it won’t double count. 

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