problem with the NEW monthly goal feature
Has anyones accounts been refreshed with the new goal types yet?
I thought I was finally getting what I needed with the new "Monthly" goal. But apparently I'm not understanding it correctly?
I have certain categories that I want building up over time, and I have certain categories that I don't need building up. For example, Groceries. I put $400 a month in Groceries, but don't need more than that. If I only spend $330 a month, I don't want to end up with $470. I just want to top it off and have $400. I thought I understood correctly that this was exactly what the new "Monthly" goal was supposed to be. A cap of sorts. $400 should be my cap. If I only spend $330, it should only put $330 back next month since I'm capped at $400 monthly.
To test it, I went and changed my Eating Out category to the NEW "Monthly" goal. I've already spent $45 this month, and have $30 left in there. I flip over to the next month, and it still says I'm underfunded by $75, instead of $45. Has anyone got it to actually work? What am I missing?
From what I understand as a beta tester, the new Monthly goal will work the way you want. However, it only does that when the month rolls over. So when you actually reach the 1st of the following month, $70 or whatever's left from the previous month will count towards your $400 Groceries cap. If you flip over to next month before the current month rolls over, it will show you as underfunded in that month by $400 as you may still spend the $70 before you reach the end of the current month.
If you did budget $400 in next month's Groceries before the month rolls over (and you have $70 left in Groceries from the current month), when you reach 1st, you would then have $470 in that category. So you could either budget $330 in next month's Groceries instead and it will automatically add in your $70 from the previous month at month roll over, or adjust the budgeted amount on 1st using Quick Budget: Goal Target to get back to $400. That would then send $70 back to To Be Budgeted.
Hi, really happy that ynab incorporated this new type of goal.
It's great that leftover amounts go into the next months, but I would hope that any automatic overbudgeting would be solved automatically (by sending it to be budgeted (for example) or at least the same way a special alert is created from overspending and one click solution (ignore or send money to...)
On that note, it is still strange to me that ynab allows overspending in the past without a special alert - for example if I record a transaction for a previous month.