Spending Plan should include Recurring Transfers [edited] (8 Merged Votes)

bcrossman Member ✭✭✭✭
edited November 2021 in Feature Requests

It took me a while to understand how to use the Spending Plan, but I've come to really like it. I find it presents a simpler and more useful way to budget for the month.

One suggestion would be to add recurring transfers in addition to "Bills & Subscriptions" as a category that is deducted from Spendable Income.

Currently, I have several recurring monthly transfers that operate more like savings (e.g., mortgage principle, brokerage, 529s). Because I transfer the same amount every month, I don't consider this part of spendable income. I can account for them in my Spending Plan by including them in "Bills & Subscriptions," but they're not really bills. It would be great if I could separate them from the recurring bills in my Spending Plan.

(Of course, this probably requires working through some bugs with recurring transfers, which I know is an ongoing issue.)

Anyway, the Spending Plan is great!

42 votes

In Progress · Last Updated

We've received confirmation that this ability will be coming to Simplifi!


  • Coach Paco
    Coach Paco Moderator admin

    @bcrossman Great suggestion!

  • I agree, every paycheck I send money to tithe and money to emergency savings fund and money into savings for my 15 "funding accounts" - which really goes into one funding savings account - but so far I have kept track on one funding spread sheet.
    But anyway these are 3 items that always come out first thing from my paychecks - same amounts every time. And we have other tithe amounts going after other income comes in - that could be transferred just like he mentioned above just the same. This is an awesome suggestion. Please make it happen.

  • gildrush
    gildrush Member

    I too would like to see this, as I have mostly scheduled transfers to different accounts

  • mverbree
    mverbree Member ✭✭✭
    I have a number of transfers that come in as income like for example my son and mother-n-law pay me for a group cell phone plan that I manage.  I also have a number of transfers that go out, like money to a brokerage, Vacation fund, Tax Fund, etc....  With both of these type of transfers, it would be nice to be able to add them to my spending plan, because they influence how much I have left.  What I am doing now is creating categories under financial like "Transfer (Vacation)" or "Transfer (M1 Finance)" so essentially this allows me to break the transfer between accounts and set them up as planned expenses.  I know this is not right, but not sure how else to go about this.  I see an area where the transfer is setup under recurring, just need this to be available as a tab under the spending plan and have it part of the calculation.  Thanks
  • dgalt
    dgalt Member ✭✭
    edited March 2021
    The Spending Plan is one of the big draws for me to Simplifi, since I was basically doing something similar with Excel manually prior to discovering Simplifi. 

    One thing I'd like to see added, though, is the option to track transfers as essentially spending for the month. For example, every month I make an automatic deposit in to a brokerage account as part of my retirement savings. I don't want this to count as an expense, but I would want this to count against my available cash each month. Currently there doesn't seem to be a good way to do this, as far as I can tell. The only option would be to add this as a Savings Goal, but that's really not appropriate either since there's no specific amount or date that I'm saving for. To that point, it might be nice to have as an option for Savings Goal just a monthly saving amount, unassigned to an end-date or total amount, which could then be used for what I'm asking with respect to the Spending Plan. 
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @dgalt,

    Thank you for posting this suggestion to the Community!

    I have gone ahead and turned this into an Idea post so that other Users can vote on it, and our Product Team can review it. Please be sure to add your vote as well! :)

    -Coach Natalie
  • bcrossman
    bcrossman Member ✭✭✭✭
    edited May 2021
    Totally agree. There are some unresolved issues with how Simplifi handles transfers, but once worked out, it would be great to include exactly the type of transfers you describe in the spending plan. Seems like this should be an easy addition.

    Also, see this thread: [removed link to now-merged thread]

  • RyanB
    RyanB Member
    I have multiple savings transfers where I don’t have a specific target amount. The goal is to save a set amount every month until it makes sense to stop.  College savings and retirement are perfect examples of goals with out a set goal amount and a fuzzy end date.  Seems like the simple fix is to allow goals without a target amount…
  • DannyB
    DannyB Superuser ✭✭✭✭
    I vote yes to transfers.
    Simplifi user since 01/22
     Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • I agree that recurring transfers need to be included in the spending plan. This may also require better integration with the "Savings Goals". My savings goals each align with a savings account into which I have scheduled recurring transfers. When I achieve the savings goal I now want to expense the money in savings (e.g. "Christmas Gift Fund", "Vacation Fund"). I cannot show the "Savings Goal" as an income; therefore, when i spend the money saved it shows as an expense greater than the amount of income for the month. Some manner of transfer out "expense" and transfer in "income" would greatly assist in identifying the "actual amount" of income available in the spending plan.
  • cerebralvision
    cerebralvision Member
    Has there been any update on this by the Simplifi team?
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello All,

    Great news! Although we don't have an exact ETA to provide on this request, our Product Team has confirmed that Recurring Transfers are expected to become available in the Spending Plan in the near future. 🥳

    -Coach Natalie
  • chouser10
    chouser10 Member
    I totally agree. Transfers would be nice to show as income.
  • mverbree
    mverbree Member ✭✭✭
    Just checking since it has been a while, is there any update on ETA on this feature.  This is a feature that I have been waiting for, I have transfers set up as bills and it does not really seem right.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @mverbree,

    Thanks for reaching out!

    Sadly, there hasn't been any further updates to provide on this request as of yet. As soon as I hear anything, though, I'll be sure to post back. :smile:

    -Coach Natalie