What exactly does the pacing mean in the "Toolkit for YNAB?"
I'm using the Extension Toolkit for YNAB, like many of you do as well, probably. And there is the feature "pacing". It sounds useful to me, but I really have no idea what it means.
Here's a screenshot of one part. I budget every month 2€ into this category because I pay every half a year 10€. And yet the pacing says, I spend too much than I have available. Is there anyone who could explain this feature to me with simple words?
I would appreciate it.
Ideally, I'd like to build a better help system into the Toolkit, with screenshots and better descriptions for what every feature does... The description on this feature could be better.
To summarize, the Toolkit figures out how much it expects you to spend per day, then compares that against your actual spending at this point in time. If you've spent less than expected, pacing will be green, showing how far ahead you are. If you have spent more, it'll be negative orange, warning you that you've spent more than ideal.
-- It starts by figuring out how much was available this month (assuming this category is positive or zero): current available + current spending: 12€
-- It divides that number by the total days in the month, to get the total of how much you're expected to spend per day: 12€ / 31 days = 0,387€ per day
-- It calculates how much it expects you to have spent at this point in time in the month: 0,387€ x 23 days: 8,9€ expected spending
-- It compares expected spending with your actual spending: 8,9€ - 9,95€ = -1,05€
-- The Toolkit is showing you that you've spent 1,05€ more than ideal, based on the day in the month and the amount you currently have available.
-- Do remember you can click on the number in the Pacing column to de-emphasize it (the number will stay, but it has a gray background to make it less obvious). I imagine this information isn't particularly useful for every category, especially very specific categories that may only have one fixed transaction a month. This feature is probably most useful for categories where you are spending throughout the month in variable amounts, like food or gas.
-- If you want a general feel for where you stand, but find the numbers confusing, maybe change the Pacing setting to "Show Simple Indicator" instead. This will give you a simple colored dot, orange or green, to indicate your status, and you can hover your mouse over the dot to show a tooltip with the full details if you want them. (This is my personal preference.)