How are You Making Use of 12 Month Budgeting

DannyB

With the most recent release of mobile and web versions comes the ability to budget ahead 12 months. It would be great to hear about how everyone is taking advantage of this new much requested feature in Simplifi.


Today I started using this new ability to build into our budget the change over from my wife being fulltime employed to full retirement.  I opened her current recurring income and set an end date for the last paycheck in January '23.  This created deficit spending for February and forward until I set up our payout form our various retirement accounts and our budget and cashflow returned to positive.

In the coming months we will be switching over from her company provided insurance to Medicare and at that time I will create a new recurring payment for that new expense.  We will continue to maintain a savings goal for health expenses that aren't covered by whatever plan we end up with.

This transition will also require a conversation with our tax pro to review how we will cover what taxes.

Then sometime in February we will head out for some R&R travel!

Brett.T.Stewart

I'm on version 3.57 and I don't see the ability to budget in the future.

Coach Natalie

Hello @Brett.T.Stewart,

You'll want to be sure to enable Early Access to obtain the ability to move forward in the Spending Plan.

-Coach Natalie

RobWilk

How am i taking advantage of this? 

Well, I forecasted what i wanted to put into savings each month, I factored in my known bills forecasted ahead, and the spending categories i determined could be monthly planned spending (and select months i'm more likely to take a train into the city, so i put 'public transportation' into those month's planned spending, as an example).

.. And what I determined was that in just one month I was going to have negative money left (over budget) in the spending plan.  I could have made less savings that month, but my short term goal is to save money as if i had to pay housing costs (in the future, i might) and i didn't want to change that. So, i went to see what was special about that month, and there was a $200 store "service contract" renewal (annual) (there was also a $99 Microsoft office renewal, but I made that $10 monthly to "fix" it).  I cancelled the $200 service thing, and the spending plan said i was back in-budget.

ffurja

I would like to see an input screen that allows me to put in my budget by category over the 12 months. Then a report that shows budget to actual for the 12 months.  Thanks.

RichD

ffurja said:

I would like to see an input screen that allows me to put in my budget by category over the 12 months. Then a report that shows budget to actual for the 12 months.  Thanks.

Yes, it becomes very useful if we could report on it

lmallen1129

Also looking for budgeting and the ability to report on it over the 12 months of a calendar year. I don't need a new budget each year, happy to adjust as needed. But would really like to be able to report on this.