"Subscription" goal type suggestion

Something that would make things easier for me to manage is a "subscription goal" type. This is somewhere between "monthly contribution" and "target balance by date". For example, I have an Amazon Prime subscription that renews every August. I could set a target balance by date for $119 in August 2020. Great! But then August rolls around, I've reached my target balance, and I need to start saving for next year. The goal, however, doesn't reset. I have to remember to go in and create a new goal for 2021. This becomes a headache to manage when you've got lots of these types of subscriptions all renewing in different months.

The current alternative is to do the math myself (amount due / X months from now) and set a monthly contribution. This doesn't reset like the "target balance" goal, but if I ever have months where I contribute more or less to the category, I have to remember to manually recalculate the new monthly contribution to adjust for the wanted balance. Also a headache.

It would be great to have something like an option in the "target balance by date" to auto-restart it at the given date.

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  • Yes, a multi-outflow category is what I was hoping for from goals -- something that you can't easily do in your head. The example I've suggested in feature requests and past postings is a Birthday category.

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  • Green Cornet (78436239f3bf) said:
    The current alternative is to do the math myself (amount due / X months from now) and set a monthly contribution.

    Interestingly enough, this is also the wrong answer. Well, it does the job, but odds are that it ties up more money than necessary. So not the best answer, at least.

    The better approach is to look at the cash flow within the category. It should go to $0 sometime within the year. This also explains why the multi-categories is not optimal as with N categories, there will be at least N-1 categories with money (i.e., more than $0).

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  • A fair bit of discussion about this here:

    https://support.youneedabudget.com/t/y727d8

    I suggest that you make a feature request using the link on the main Support page (on the right under Important Links). Maybe it will get added someday.

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  • Having a button to check to "auto-restart" a goal in the target month would be so useful. I keep my annual subscriptions separate, in a category group I usually collapse. Then I'll look at one like two months after I last paid it and realize I'd forgotten to reset my AAA goal or whatever. 

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      • dakinemaui
      • dakinemaui
      • 2 mths ago
      • 1
      • Reported - view

      slightlysmall Really needs to be a recurrence dropdown. Lots of True Expenses are not annual.

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    • casner
    • Now retired, and figuring out transitions
    • casner
    • 2 mths ago
    • Reported - view

    My Costco membership Goal still says "by November 2019" but it is in  fact working correctly for 2020. Not sure if that helps your concern.

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  • I can't comment on ship dates for unannounced features, but maybe I can slip into a conspiratorial tone of voice and say that repeating by-date goals is something we're taking a very close look at.

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    • Matthew 

      Thats good to hear. Goals got a little love last year but they are still a little neglected 

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