Spending by Date Goals not working
So I set a yearly spending goal of $1000 to be ready to spend for November 1, 2020 and then to have it REPEAT. However, when I take the money out to pay the bill and then start saving for it again it still says that I have reached my goal and I'm fully funded when I'm NOT since I am starting all over again to be ready for 11/1/21. How do you fix this? It will even continue to say I'm fully funded in the next month when I only have 83.33 in the sinking fund of the $1000.
The yearly spending goal means that "I want to spend a max of 1000 dollars for Christmas (for example) I don't care whether I buy presents in july or in december as long as I spend 1000 bucks. If I have 500 dollars in july and I spend 150 of that I don't need 150 more, I'm still on track.
Basically what you are looking for is the target balance by date (which I don't think repeats automatically.) This goal says "I need 1000 bucks in december. If I spend 150 in july, I STILL need 1000 in December so I need to budget 150 more over the next 5 months than originally planned." With this goal type your needed amount adjusts automatically.
Thanks for your thoughts! The 1/3 monthly goal does seem like a pretty good workaround (if I can remember not to Roll With The Punches with those categories as you mentioned, which I think I can do.)
Thanks for your thoughts as well. What I want is for the goal tracker to reset itself to zero, not the funds in the account. I follow what you're saying about any leftover funds rolling over or being moved to another category. However, in my case I did spend 100% of the funds (paid the exterminator) in the target month (June) but the tracker is still saying I'm fully funded with a goal date of September. 🤷♀️🤔
Magenta Case said:
However, in my case I did spend 100% of the funds (paid the exterminator) in the target month (June) but the tracker is still saying I'm fully funded with a goal date of September. 🤷♀️🤔
Well, that's a problem. Like I said, I had that issue when I didn't spend the funds until the next month. It is supposed to reset the goal in the following month as long as you spend it in the goal month. Maybe because the month hadn't changed over yet?