How to use completed savings goals
Heres my situation. I created a savings goal for Christmas 2025 spending. Say the amount is $2000. I met the goal and it is now complete. I know in December I will spend the $2000 and the transactions will be categorized as Christmas gifts. If I add $2000 dollars as planned spending for December it will look like I overspent although I already have that money in my savings account. How do you normally handle this? Any suggestions would be appreciated.
Best Answer
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Hi @Mike B
As pointed out above, you will need to exclude your gift expenses from the Spending Plan since the actual funds have already been "expended" via your monthly contributions. This can be a little awkward trying to keep those expenses separate.
You might want to try setting up a Planned Spend bucket with rollover activated for your 2026 annual gifting expenses. Just make sure your unused monthly target amount gets stashed somewhere so it remains available when needed.
Danny
Simplifi user since 01/22
”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer2
Answers
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If I use the savings goal, I usually would mark the transactions the would be linked to it as "Hide from Spending plan" which you probably can see in transaction details. This avoids them from being double counted against your spending plan.
It's a little work-around-ish, but it accomplishes (I believe) the intended goal here.
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Rob Wilkens - RobWilkens.com2 -
Spending plan is to give you a snapshot of how much is going in every month and how much is going out. If you only made 1500(income) and you spent 2000 on Christmas gifts, it should show as you overspent. That is it's goal. No way around it even if you have the money in the savings account.
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This is perfect. Thank you.
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