Budget Calculations don't work out

jp's Avatar


11 Jul, 2010 11:30 PM

I've been using financial software for over a decade and I have always had trouble creating a budget. I read ch 6 in the MD help manual, but it did not answer my questions. What is the correct way to create a budget that will tell me how much I should save each month for expenses throughout the year.
For example, I spent $100 on fuel, $500 on groceries - both monthly expenses
I spend $1,200 on auto insurance - a yearly expense that happens in april

Everything works how I expect until I mix and match different intervals. I expected my example budget to have monthly expenses of $700, but neither pro-rating nor non-pro-rating produces the expected result.

In order to get my expected result, I have to change the year on the start date - I made it start in 2000. This creates very complex budgets and I get different numbers when I calculate it by hand.

Can anyone explain how pro-rating and start/end dates work to create a budget that covers expenses with various complex intervals?
I created a budget using mint.com and it was very intuitive. When I checked the calculations manually it made sense. However, mint.com has poor customer support and is owned by Intuit - who I prefer not to do business with. Please help.

  1. 1 Posted by Jon Hoover on 20 Jul, 2010 07:04 PM

    Jon Hoover's Avatar

    Hi JP, I've attempted to set up a budget similar to yours and have not encountered the issue encountered but this may be because I am not clear on quiet what your issue is. I've included a screenshot of the budget I set up, please tell me if this arrangement I have works for you. If this does not address your issue, please send me a screenshot of your budget and that may help us figure out what the problem may be.
    I did have to set the yearly car insurance payment to starting in april 2009 to get a yearly total that included paying it in years prior but I had no problem getting a monthly total of $700 by having everything set to pro-rated.
    Please take a look at the screenshot I've included and let me know if it works for you or not.
    Jon Hoover, Moneydance Support

  2. Angie Rauscher closed this discussion on 24 Jul, 2011 08:03 PM.

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