How much did I budget?
I'm in the middle of recrafting my budget template and wanted to know if there was a way to see how much my budget template is underfunded at the beginning of any given month (assuming that I was starting at $0 in my spending categories).
Currently when I click to select all categories, I see an underfunded amount, but it includes money that is currently budgeted for this month. Is there a way to see the total amount that is underfunded next month, assuming I spent all the money I budgeted in spending categories and was starting at $0? I see the option to set all amounts to zero, but I don't want to zero out my savings categories.
Here's a view of June with all categories selected, underfunded is $2,198.07. I think this may be inaccurate because of the amounts in the available column. By June I expect these amounts in everything except "Future Debt Prevention," "Savings and Goals," and "Travel" to be close to zero.
Here's a view when I clicked "set all amounts to zero." The underfunded amount is $5,747.75. I feel like this one is inaccurate because I'm not planning to build up all of my savings accounts from zero.
Let me know if you have any thoughts. I basically want to know how much I'm trying to budget for in a given month and if I'm setting too unrealistic of goals for the amount of income that I typically bring in (on average about $2,100 a month).
HI Colleen Cirocco !
For instance, if you have Monthly Funding Goals in place for a category, than the Available amount wouldn't affect the amount needed to reach your goal, but if you're using a Target Category Balance by Date goal than the Available balance does affect the Underfunded amount.
With those different goals in place, there isn't an automatic way to see the amount you need for next month were the Available amounts to be spent. Setting the Available amounts to zero like you did should give you a rough estimate, otherwise you'd need to click on each category individually to determine how much you need versus how much is being considered towards that goal.
If you do a Fresh Start, all your goals & scheduled transactions are maintained. You can use the "Underfunded" button there to see what you have lined up.
I do that periodically, and then rename the fresh start to something else & the archived back to the original name (so I keep using my real budget & have a play budget that matches). Then I can play around in the newer one by adjusting goals, or entering a transaction for my typical monthly income and moving it around until I am happy with it.