Budget vs income report

I’m well buffered (don’t be envious, it’s a life insurance payout) and having a difficult time deciding how much to budget each month. I have accepted that I will budget more than my income (pulling from that lump sum) each month, but would like to track it. Spending vs income doesn’t help because my actual spending per month varies wildly (Christmas vs February, for example). Thank you for any ideas!

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  • I don't understand what you are wanting to track if seeing the monthly breakdown, average and total is not sufficient?

  • Are you wanting to track where the life insurance money goes?

    As far as the income from the insurance, you would name it "Life Insurance" or something and that would show up as income in the reports. 

  • Sorry that wasn't clear. I'd like a report like income vs spending only income vs budgeted. So I can track it easily over time.

    • Beige Cheetah What do you mean when you say "budgeted"? The way most people using YNAB think of that word, every dollar is budgeted every month, so the amount budgeted is the sum of all the money in your accounts + whatever you spent. That's clearly not what you mean here.


      If I had a windfall of money, at this point, since my income covers all my day to day expenses, I'd figure out what I wanted that windfall of money to cover, and then either budget it to those categories, or keep it in a separate budget category and slowly disburse it to the other categories as needed.  You can always put that information on where you moved it to in the notes for that category, so you'd have something you could look back at.

    • Beige Cheetah It sounds like you'd like to have something to look at that will tell you how much you should be budgeting each month. This is a common question to have as you determine your True Expenses, no matter your Age of Money situation.

      I suggest creating categories where you budget for your True Expenses incrementally so what you budget in each month no longer varies so wildly. And, that way, you can automate your budget a bit:

      For instance, perhaps you have a Holidays spending category in which you budget 1/12 of your annual expense every month. Or, a Gifts category in which you budget a set dollar amount per month. You'll have an Available amount that grows in every True Expense category and is available for when you spend more in a month, but, importantly, your budgeting itself is more consistent.

      To get data points, you can take a look at your Income V Spending Report from the past 12 months and divide the total spending from the year by 12 to determine what your monthly budget allocation could be. If you set goals in your categories—even and especially for True Expenses—you can use a Budget Template to quickly budget the same amount every month. This would make your draw on the lump sum consistent and trackable. :)

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