Rolling over monthly goals
I'm new... I suspect that this a common question but I couldn't find an answer with the search feature...
How do goals roll over at the end of the month?
Let's say that I have a goal to budget $400 on transportation per month. And this month, I did budget $400. But this month, things went well and I only spent $350. What happens to the $50 at the end of the month?
Also, what happens to my goal next month? Since I was able to carry over $50, do I just need to budget $350 next month?
If you set a monthly funding goal of $400, then when April comes around and you hit quick budget, it will take $400 from your To Be Budgeted (TBB), but the $50 left over will automatically rollover and be in addition to the $400.00. This work is say it is not a monthly funding goal but Target Category Balance By Date of $1000, by December 2018, and you have $375 in there, in April it will tell you that you need to budget $31.50 to stay on track. These are good for car insurance, registration and Christmas.Reply
Hi Mad_Angler !
Like Ruff16965 said, that $50 will rollover into the next month, but since you didn't budget it in April, and you have a budget based goal set (look at the budgeted column), it won't get you $50 closer to that $400 goal in April.
I have money roll over often enough, but I just continue to budget my goal ($400) and leave the any extra to build a buffer! It's pretty exciting to see those categories grow, and my dollars age too!Reply
I might have missed the answer to the original question. Using the original hypothetical: $400 budgeted in the current month, but only $350 spent. $50 will rollover to the next month.
In that next month, does the rollover count towards the goal or does a new amount need to be fully budgeted? Concretely, will the goal be green or yellow if $350 is set aside?
Hi Saish Dawg , the answer depends on what type of goal you set for that category. If it was a "monthly funding" goal, it will not consider what is in the category already. If it was a "category balance by date" or "Category balance" it will look at what is in the category already. It's up to you.Reply