May Wrap-up... Simpli Delightful

DannyB Superuser ✭✭✭✭
edited July 8 in Share your Success!
May is in the books! This was our 5th month using Simplifi and I'm quite pleased with how May went using this neat "little" budgeting and financial management app.  I love clicking on the Spending Plan tab and reviewing how the month went as far as our budget goes... and it's green all the way!

Income after bills & saving:
  • All planned and expected income "Received"  The only issue, if you can call it that, is that one of our 3 planned transfers from checking to savings shows up under Income.  It's greyed out since it is "ignored" but the other two transfers don't show up at all.  I've examined all three transfers and as far as I can tell they are all set up the same, but one shows up (and it's not income) for some reason in our "Income" tab.  :o:confused:
  • All expected bills are now accounted for and a big green "Paid" all down the bills board.  Right now I include all our charitable giving under bills though there is a feature request for a separate grouping for this type of "expense."
  • Subscriptions - All PAID!  I do beleive I have finally captured all my subscriptions! During May another annual subscription came due that I hadn't captured coming into May.  It's an annual subscription and I am aware of the service and use it, but I had forgotten when it renewed.  This triggered an idea about keeping track of subscriptions in Simplifi as a new report in the Reports tab.  Although I can see my subscriptions in the subscriptions tab in Spending Plan/Income after bills & subscriptions, I don't see all subscriptions every month since annual subscriptions will only show up once a year in the month they are due.  A report of all subscriptions with the cost of each subscription, I think, would be a useful way to keep tabs and evaluate whether or not to keep any particular subscription.
  • All savings goals contributed to and either on target or ahead of target!
It's nice to see GREEN all the way down each list!

Planned spending:
  • Two of our twelve planned spending categories had no expenses charged to them.  One is a category for any service or repairs for our autos and the other is our "Health" category, you know, doctors, dentist, eye care, hospital, prescriptions... Probably should rename this Medical Expenses instead of Health... whatever, no expenses charged to either of these categories.  So, I'm wondering if I should turn these two categories into "Savings goals" and contribute what we assign to them in planned spending so that we can accumulate funds to cover the cost of auto or bio service and repair when needed.  I say this because at this time Simplifi doesn't allow for rollover from month to month in the spending plan.  On the other hand, a savings goal makes it more clear that I am actually setting aside and designating certain funds for these expenses when, not if, they do arise.
  • I had to adjust up one or two of my planned spending accounts during May.  On one hand this was no big deal since we over budget in several categories and I can (not so) simply move money form an underspent category to an overspent category (There is a feature request to "simplifi" this process here.)  I could take money form the "available" pot but that would raise my overall budget and defeat the purpose of our budget, i.e. to set limits and spend on purpose and not willy-nilly.  What I would prefer is to move money between categories so that my overall planned budget remains within the bounds we have set for ourselves.  What I will do is analyze our budget and make adjustments if we continue to over spend in any given category due to the cost-of-living or a change in our priorities.
Other spending: A big fat ZERO!  

All of our spending was accounted for in our Bills, Subscriptions, Savings goals, and planned spending and we ended the month with a 25% surplus ($XXXX left at end of month)!

Our success is not because of Simplifi, but Simplifi is a great way for us to track our personal income and expenses giving us a dynamic, easy to follow visualization of our day-to-day money matters.

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


  • Flopbot
    Flopbot Superuser ✭✭✭✭✭

    Great post!  Thanks for sharing your success.

    I love this idea!  Obviously, I still something to learn since I ALWAYS have other spending.

    Quicken Desktop user since 2014.
    Brand new to Simplifi in 2021.
  • DannyB
    DannyB Superuser ✭✭✭✭
    Hey Chris @Flopbot, thanks.  The only reason I have no "other spending" is because I actually have planned spending categories called "General Expenses" and "Other Fun Stuff" that are my catch all categories and I budget a generous amount for both.  I put spending that would typically land in "other spending" in one of these categories.  Plus, my wife and I have a pretty straightforward and uncomplicated budget at this stage of our journey.  
    Simplifi user since 01/22
     Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • Jedp
    Jedp Superuser ✭✭✭✭
    Hey Dannyb! I have very little unplanned spending, but I used to have a lot. The reason I've been able to manage it is because we try to plan out all one-off spending (like a major repair or some other big expense) in the planned spending for the month. In any event, I love reading your posts. You are thoughtful, helpful and put time into it. Thank you for pushing me to work harder to help others!
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