New Planned Spending Release Options: Share your feedback here!
With the new 'auto-release' and 'release all unused funds' options that are available for Planned Spending in Early Access, we want to hear from our users! Let us know how this enhancement boosts your Spending Plan experience, as well as any issues you encounter, by commenting below!
Link to the announcement for this new feature:
Thank you!
-Coach Natalie
Comments
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New way to handle releasing unused Planned Spending added to the new 3 dot menu in Planned Spending. Looking forward to trying.
😎
Danny
Simplifi user since 01/22
”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer0 -
I activated the auto-release already. Look forward to it.
Simplifi User Since Nov 2023
Minter 2014-2023
Questionable Excel before 2014 to present
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Absent any definitions, I'm going to assume using either option, "Release all unused funds" or "Turn on auto-release" doesn't affect current unused funds but only kicks in after the end of the month.
Danny
Simplifi user since 01/22
”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer0 -
Agree, that is the way I understand it.
Simplifi User Since Nov 2023
Minter 2014-2023
Questionable Excel before 2014 to present
1 -
Two questions about this feature:
- Does this release also apply to rollover categories? Or does it just release funds from non-rollover categories and preserve rolled over funds? For example, I have groceries set to rollover month-to-month since that spending is somewhat variable, and I would rather NOT release those funds. But I have other categories that are not set to rollover, so I WOULD like to release those at the end of the month. Does this setting differentiate between those preferences or does it just release all of them?
- Once these funds are released, where do they go? At the end of the last day of the month, having available funds that disappear at midnight once the next month starts isn't actually that useful, so whether or not they are 'released' doesn't really make much of a difference unless I was already over-budget for my 'available' funds. Ideally we would be able to either retroactively assign released, now available funds to a savings goal (i.e. use released November funds at the start of December to contribute to a goal without cutting into the December budget), or we would be able simply rollover those available funds into December. If I under-spend in November, it should make sense that I have those extra dollars available to me in December, rather than have them disappear.
0 - Does this release also apply to rollover categories? Or does it just release funds from non-rollover categories and preserve rolled over funds? For example, I have groceries set to rollover month-to-month since that spending is somewhat variable, and I would rather NOT release those funds. But I have other categories that are not set to rollover, so I WOULD like to release those at the end of the month. Does this setting differentiate between those preferences or does it just release all of them?
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I'm assuming this is only for non-rollover categories since rollovers do not have a release in the first place. I've turned it on and worst case scenario I'll find out at the end of the month. And Jan 1 is when I would normally reset any runaway rollovers anyway and then recalculate my monthly expectations.
I dont think they "go" anywhere. Just like they don't go anywhere when you manually release them today. The manual release is a meaningless button click that does nothing other than "force you to look at your spending". When you talk about having dollars available next month that you did not spend this month, that's what rollovers do. Well aside from the fact that they missed actually implementing having it affect the totals in the next month's plan and still havent implemented that aspect of the rollover feature.
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@makapuu I'm a fellow user and cannot speak officially but here are my answers to your questions:
- My assumption is that these are time saver tools for releasing unused funds and will not affect rollover categories. The whole point of rollover is to preserve funds NOT spent in a given month rolling them over to the follow-on months.
- Once released they go back to the Available/Left at end of month bottom line.
Danny
Simplifi user since 01/22
”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer0 -
This feature appears to be live for everyone on the Web App!
-Coach Natalie
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