Watch List Calculates Incorrectly

Jim313

This Month Spent So Far = Amount Spent plus Upcoming.

1. This month spent so far is actually the projection NOT the spent.
2. The problem is amplified by the way the Projected is then calculated. Apparently the system is taking the incorrect amount spent so far for the month, (which is really a monthly projection), divides it by the number of days in the month so far, and multiplies it by the total days in the month. The result is of course, not close to reality. This approach assumes we would pay a portion of car payments repeatedly throughout the month on every day of the month. Not all expenses are ratable so this is just an incorrect methodology. My example is below with one expense $162.17, and one upcoming $695, so far through 3/4/23. I am positive the actual spent for the month will be slightly over the $857.17 since I will purchase fuel but will not come close to the Projected $6643.

Coach Natalie

Hello @Jim313,

Thank you for posting to the Community regarding this behavior, although I apologize that you're seeing this issue in Simplifi.

Watchlist calculations including upcoming Reminders is actually by design. According to our Support Article here, “The Projected amount displayed for Watchlists is calculated by taking the average amount that's been spent per day during the month (including upcoming Reminders), and then Simplifi uses that average to project forward for the number of days remaining in the month.”

I definitely understand how this can cause an issue with the ‘Projected’ amount, but there's not a whole lot further that can be done from our end since it is by design. Instead, I would suggest creating an Idea post requesting that upcoming Reminders be excluded when calculating the ‘Projected’ amount.

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

Alternatively, we do have an existing Idea post here requesting that upcoming Reminders be excluded from the ‘This Month’ amount. If this Idea were implemented, it may resolve what you're seeing with the ‘Projected’ amount, however, it would depend on whether you like having Reminders count toward the ‘This Month’ amount or not.

Conversely, we also have an Idea post here requesting that upcoming Reminders be included in Watchlist calculations. Although this request has been implemented, you may still be interested in checking it out.

Sorry for not having a better answer, but I hope this helps!

Coach Natalie

Jim313

Thank you for digging into this issue for me. I will look at the topic links you provided and “vote” on what I htink makes sense. I guess my only comment is to reiterate, by design or not, the methodology is flawed and should be rethought by the design team. I also suggest their naming conventions are misleading. Anyway, I will make idea requests. Thanks again.

ajbopp

I agree with @Jim313 on the methodology. It would be better to not attempt to show what's projected all rather than show a number that cannot possibly have meaning or be useful in any way when it comes to planning my monthly purchasing activity.

DannyB

… and I too have to agree with this critique. I haven't paid much attention to the “Projected” in my watchlists simply because it's not an accurate number and thus not useful. I don't know how “Projected” should be calculated so I'll watch for @Jim313 's idea post and add my vote.

Coach Natalie

@DannyB (and anyone else who's interested), you can find the Idea post here 😀:

https://community.simplifimoney.com/discussion/4588/watchlists-better-calculations-for-projected-amount-edited

-Coach Natalie

RobWilk

Can I just say: I personally like that known upcoming spending is included in the month spent -

However: I agree that projections should not forecast based on recurring transactions — that is, like someone said - total month spent MINUS recurring - forecast out based on that then add back in the recurring…. Because recurring expenses (known expense) shouldn't affect the (unplanned) spending trend for the month.