Integrate Planned Spending with Recurring Items in the Spending Plan (edited)

RobWilk

In addition to Bills and Subscriptions, a third type, planned spending should be added. Recurring expenses thus classified should count as other spending or planned spending rather than coming from income after bills in spending plan.

picture the create recurring transaction screen. Where it asks you to pick bill or subscription there is a 3rd option (however worded) which treats it as a regular "other/planned" spending transaction , and counts against planned spending if a planned spending category exists.

[added additional description]

RobWilk

To clarify, it should charge planned spending. Not reserve more.

UrsulaA

Your request sounds like the one below.

https://community.simplifimoney.com/discussion/1651/ability-to-add-planned-spending-items-to-our-projected-cash-flow-edited-4-merged-votes

Can you explain the difference between your ask and the idea post I linked?

QuantumWest

This has been a tough one for me to, but I found a work around.

The reason why I want it is to also see my cash flow for an account. My work around is that I have a planned spending transfer that reoccurrs weekly or whatever cadence to a card I now use for ALL my spending that isn't already accounted for in bills, subscriptions, or transfers.

Idk if that helps you out, but it's worked best for me for the last 10 years.

Current Simplify & Tiller Money user. Firmer quicken PC user

RobWilk

@UrsulaA the subject of that idea post does not mention recurring transactions (i.e. annual expenses wouldn't be handled).

UrsulaA

@RobWilk - I must be extra dense today, but I do not understand what you are trying to do. Can you explain or add a screenshot of what you will like to see?

Also, I thought creating a category/sub category series for planned spending met the following: "Recurring expenses thus classified should count as other spending or planned spending rather than coming from income after bills in spending plan." Currently, planned spending series are treated this way, though the only option for recurrence is monthly or custom amount on a given month within the next 12 months.

RobWilk

@UrsulaA also recurring planned spending is per category, where i refer to recurring transactions (specific charges).

UrsulaA

@RobWilk - my recurring transactions have categories like rent or insurance and are for specific bills. How will you use the planned spending recurring item that you are proposing and how does it differ from the monthly series that the product already has?

RobWilk

I'm proposing that some recurring transactions count against planned spending reserves instead. This was inspired by the coming rollover feature. So if i reserve so much for streaming, i can count both recurring and non recurring charges against streaming planned spending.

Coach Natalie

@RobWilk, thanks for posting your suggestion to the Community!

I'm also having a hard time nailing down what specifically you're looking for. It sounds like you want to see a combination of these existing requests:

https://community.simplifimoney.com/discussion/1199/break-down-annual-bi-annual-expenses-to-a-monthly-amount-in-spending-plan-edited-6-merged-votes

https://community.simplifimoney.com/discussion/4880/have-recurring-transactions-show-up-in-planned-spending-edited

Or are you possibly looking for rollover abilities for the Bills & Income section of the Spending Plan, in addition to Planned Spending? If so, I'd suggest mentioning this in our existing rollover request, as I am curious (and asked) if the Planned Spending Rollover meets everyone's needs, or if users want to see rollover in other areas of the Spending Plan as well.

Please let us know, thanks!

-Coach Natalie

RobWilk

The may 18th, 2023 idea, but not for all recurring transactions, only selected ones. Edit:these transactions would not be double listed under bills or subscriptions

DannyB

@RobWilk

If you want a monthly recurring bill/subscription to be counted in a Planned Spending bucket, you can delete the recurring bill/subscription reminder and as long as the expense is categorized for the Planned Spending bucket it should only counted once.

Can you clarify how this would be a better way to handle a recurring fixed expense?

RobWilk

@DannyB i do not wish to limit this to monthly expenses, there is a variety of recuring frequency options now. I also want the specific charge to be planned, not just a category.

@Coach Natalie i haven't been given access to the new rollover features, so having feedback on that topic might be premature.

UrsulaA

@RobWilk - will the feature request below fill your needs? That allows to add more than one category and make a series with monthly amounts. If implemented, will that help?

https://community.simplifimoney.com/discussion/3509/allow-ability-to-add-multiple-categories-to-planned-spending-expenses

RobWilk

@UrsulaA no, but i like how this idea was reworded in the subject

UrsulaA

I am still having a hard time understanding this request. A mock up/visual will help.

RobWilk

I would, but I'm on vacay (at a lounge with a seasonal old fashioned), picture the create recurring transaction screen. Where it asks you to pick bill or subscription there is a 3rd option (however worded) which treats it as a regular "other/planned" spending transaction , and counts against planned spending if a planned spending category exists.

RobWilk

@UrsulaA If you're against the idea, vote it down. If you don't have an opinion, don't vote. If you like the idea of integration of recurring spending with planned spending - regardless of how it's actually implemented, vote for it. I'm not tied to a particular way of doing it.

UrsulaA

I am not for or against the idea. Your explanation makes sense now, I asked the coaches to put your explanation above in the main idea for clarity.

RobWilk

@UrsulaA As you requested, here's a sample screenshot modification. I'm back in the hotel room and have some time, so I modified a screenshot. "Regular Spending" could be worded in any number of ways. If selected, it would apply the recurring transaction either to "Other Spending" or, if planned spending matched the category, charge this recurring transaction to the planned spending in advance of actual spending.

If I don't make sense right away, ignore me. I think I had a stroke or something, but not recently - I've been slurring words / have had difficulty speaking for about eight months now (it was worst in January).