Ability to Create Smart Expenses in Planned Spending (edited)
killweav
Member ✭✭
Currently, when you create an expense in the Planned Spending view, Simplifi will give you a suggested dollar amount for a particular Payee or Category that is chosen. This dollar amount is based on previous 12 months. If this value changes at a later date, a user has to go in and manually input new values if going off the suggested dollar amount.
I would like to see the ability for a smart category or payee expense such that each month's expense dollar amount is adjusted based on a rolling average for a user-selected number of months.
Use scenario:
I track the finance charge category and apply it as a planned expense. Finance charges fluctuate based on a number of factors. So, the 12 month suggested dollar amount is not a truly reflective amount.
I would like this expense to automatically reflect the average of the past three months, and have that expense auto adjusted for each month based on the previous months.
As I pay down debt, the finance charges will go down and I want this expense auto adjusted based on a shorter number of months (for me 3 seems preferable but it should be user selected).
Is this a possibility? For me, tracking finance charges and applying it as a planned expense is crucial for me to stay under my budget.
I also see benefits in other categories such as food, or any expense that can be planned for but is based on external factors that cannot be input into Simplifi.
Auto adjusting expenses makes sense to me and I hope it does to you as well.
Thanks for all your work. This is a great tool and I'm glad to be a part of the community.
I would like to see the ability for a smart category or payee expense such that each month's expense dollar amount is adjusted based on a rolling average for a user-selected number of months.
Use scenario:
I track the finance charge category and apply it as a planned expense. Finance charges fluctuate based on a number of factors. So, the 12 month suggested dollar amount is not a truly reflective amount.
I would like this expense to automatically reflect the average of the past three months, and have that expense auto adjusted for each month based on the previous months.
As I pay down debt, the finance charges will go down and I want this expense auto adjusted based on a shorter number of months (for me 3 seems preferable but it should be user selected).
Is this a possibility? For me, tracking finance charges and applying it as a planned expense is crucial for me to stay under my budget.
I also see benefits in other categories such as food, or any expense that can be planned for but is based on external factors that cannot be input into Simplifi.
Auto adjusting expenses makes sense to me and I hope it does to you as well.
Thanks for all your work. This is a great tool and I'm glad to be a part of the community.
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