Actual vs Budget Tracker with MTD tracking

I’m one of the new users that had to make the move from Mint. I think this platform is great! However, it really could use a true actual vs. budget tracker. I used the budget tracker solely for my variable expenses. You could customize which categories to track and how much to assign to each category. It would also be nice to have a line on the budget to indicate how far you are into the month so you can tell if you’re on track or you need to watch your spending.
It would also be nice to be able to track our total budget. That way if we over spend in one category, we can make sure to underspend in other categories to not go over the total budget for the month.


The Planned Spending section can be used similarly the way it is currently, however it doesn’t have the indication on how far you are into the month to see how you’re pacing, and if you over spend in a category it increases your total planned spending amount, making it difficult to track whether you’re on track overall for the month.

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Comments

  • User5939
    User5939 Member
    edited November 2023

    Also a mint user coming to Simplifi.

  • Also a former Mint user and loved it for many years. Agree totally with request for budget/actual functionality.

    R. L. Cook, CPA

  • BrandonG
    BrandonG Member

    Also a Mint user and a CPA and surprised by how poor the budget presentation is in Simplifi. I would literally just copy from Mint. The Spending Plan is way too convoluted for folks that just need to see their spending against a budget.

  • DannyB
    DannyB Superuser ✭✭✭✭✭

    Hi @ajthurst7

    Welcome to Q-Simplifi and I'm sorry you are losing Mint as I can tell from my reading in this forum the past few weeks how much you and others liked the Mint platform.

    I've read your proposal a couple of times but not sure I'm understanding what you are asking for that isn't already available though perhaps in a different format.

    As far as having "a line on the budget to indicate how far you are into the month so you can tell if you’re on track or you need to watch your spending." again, all information about how much you have available in any given Planned Spending category is MTD information. Having an additional line to tell you what day of the month it is seems a bit redundant, though perhaps it would be visually satisfying.

    When I look at my planned spending page, I can see at a glance that I am within "budget" unless I see one category with a glaring read bar graph which indicates in no uncertain terms that I am over budget for that category. This may or may not indicate over budget for my overall spending plan since if I'm under spent in any or all other categories by the amount I am over in the one I'm still within my overall budget.

    I don't understand your conclusion, "…if you over spend in a category it increases your total planned spending amount." In the 2 years I have been using Q-Simplifi, I have never seen that happen. If I do overspend in a category, in order to stay in "budget" I simply make adjustments to my categories to accommodate the overspending in one category by taking allotted funds from other categories and then reduce spending in those other categories for this month just that way you say, "…if we over spend in one category, we can make sure to underspend in other categories to not go over the total budget for the month.

    "It would also be nice to be able to track our total budget." I think you are indicating some kind of graph maybe that adds up all your bills, subscriptions, transfers that affect your net worth, savings contributions and all planned spending categories as you "total budget." Again, this information is very much present. But instead of going at it the way Mint must have, Q-Simplifi gives you the information so that you know what's left for the month after all your fixed and flexible expenses are accounted for.

    Finally, all this data for the whole Spending Plan is by design MTD. When I look at my spending plan on any given day of the month, I am looking at my month-to-date data. It's just presented in a way that is different from what you have been used to. I will humbly suggest that you give it some time and you may find that this is different but not as inadequate as it may appear at first glance.

    Danny
    Simplifi user since 01/22
    Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • Ben1
    Ben1 Member

    Planned spending + spending categories do a similar job as the mint budgets.

    However, there were additional features in Mint budgeting that made it a little more seamless.

    Budget suggestions would be great.. and I'd like to add a larger number of categories and just fit more in one screen.

    I set up a lot of categories but it feels a little complicated to click through them and check.

    However, I do appreciate the notifications when I'm running over one.

  • Is there a way to create a goal under the spending plan similar to goals section. To see if we are hitting our budget for each month with our different spend categories. I know YNAB already does this.

  • What I am asking is for an option to set a budget for different categories and compare it to what I am actually spending based off my transactions

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭

    You can set a watchlist with a target for categories, sub categories, tags or payees. That will compare actual versus target.

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭

    The summary of planned spending on the web app is a good step towards this request.

    I would like a similar summary for bills, showing the following

    Upcoming/Unpaid, equivalent to available above, which represents expected bills for the month

    Total of bills/subscriptions Paid, equivalent to Spent so far above

    Bills and Subscriptions Total, equivalent to total allotted adding up the bills and subscriptions for the month

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • I am an ex-Mint user and think that Simplifi could make improvements in tracking categories to monthly budgeted amounts. I can't claim authorship, but this is what I have in mind.