Spending Plan - Budgeted vs Final Actual Spent

PM009

Hi all!

I just switched from another platform and used Simplifi for January 2024 and now have a notification to release unused funds from Planned Spending, I am trying to now understand how will I be able to (or will I not) go back and see budget vs actual for January 2024?

For example I have a shopping category for myself and my wife and we each budget $150 a month for miscellaneous wants, in January I spent $100 and my wife spent $125. I would like to be able to go back at a future date and see month by month how we did by looking at budget vs actual. If I release unused Planned Spending, the category no longer shows as $50 and $25 respectively under budget or “remaining” but simply changes the total to what was actually spent.

Thank you for any help on this!

ajbopp

@PM009 Welcome to the Q-Simplifi community!

There are a couple of options you have. If all you need is a broad overview, any previous month's spending plan will show you how you did actual vs budget as "X left at end of month."

If you want to drill down into a specific category, you can create a watchlist for that category and set a target amount for it. This will give you a day-to-day view of how your doing compared to your budgeted amount (just be mindful of ignoring the "Projected" field, which is notoriously misleading). Then at the end of the month you'll be able to see what you actually spent vs your target.

PM009

@ajbopp

Thank you for the suggestion! I will give that approach a shot, did not think of using spending targets like that, great workaround!

Coach Natalie

@PM009, we also have an Idea post available here that you may be interested in checking out:

https://community.simplifimoney.com/discussion/2087/spending-plan-show-totals-for-paid-spent-vs-upcoming-left-with-a-progress-bar-edited

Thanks!

-Coach Natalie