No income in the summer

birbyb

Hi, I'm new to Simplifi. My wife works for a college and doesn't get paid in the summer. I have a goal set up to save money for the summer to cover our expenses while she's not getting paid. What's the best way to approach this using Simplifi? I think I would delete her recurring paychecks from the spending plan for the months she's not getting paid, but how to I use the money I saved without my spending plan looking horrible since I'd be spending more than I'm taking in those months, but paying the bills using the money we've saved up?

RobWilk

One way: On the months where you're using savings goals, schedule transfers (recurring with an end date in this case) from savings to checking (for example) of the amount you want to use, and leave the money out side hidden, but unhide the money in side. This will show in the transfers bucket in the spending plan as a kind of income.

birbyb

thanks @RobWilk, I think I understand the part about the scheduling transfers. That would be scheduled transfers in the spending plan for the time she’s not getting paid?
I’m not sure what you mean by “leave the money out side hidden, but unhide the money in side”.

RobWilk

I meant — when you set up a recurring transfer, and set the category to the transfer to the target account, at the bottom of the edit series (recurring) screen you should see something like this (keep in mind, i have 'early access' on so it may be a little different looking):

If you uncheck to exclude from money in on the spending plan, money in should be included for your budgets for that month.

RobWilk

Here is an example with a start date of june 1 and end date of aug 1, money in is unchecked (not excluded) leave money out excluded or it will cancel out:

This screen is based on Early access being enabled (General Settings) … Early access has new features, but at the same time there can be problems with the new features.

birbyb

Okay, thanks. I have early access turned on, but I don't see the Money in/out options. If I have the recurring transfer scheduled in the summer to go from my savings account to my checking account, I can uncheck the exclude from spending plan, then it should show up as income for the months she's not getting paid?

RobWilk

Money in/out options should show up if you do the following:

In category, go to the "Transfer" category and pick a subcategory of your account name it's going to.

If that doesn't work, ask, we love to help.

DannyB

Looks like Rob has you covered.

birbyb

thanks @RobWilk, I see it now. I think your suggestion makes sense. I’ll give it a try.