Budget Bar Effective Expenditure/Income

Martin Ward's Avatar

Martin Ward

11 Jan, 2022 08:35 PM

Suggested Enhancement. Budget Bar Effective Expenditure/Income indicator.

The current Budget Bar works well with the indicated spend matching Budget, Transaction and Category Spend reports.
However, there is no indicator to show by how much the current Expenses/Income are over/under budget at any specific time during the budgeted period.

For Example
Say, I have a budget of £1,500 per month after subtracting fixed expenses from my monthly salary. That gives me a notional £50 per day to spend (assuming simple 30 day month). To cover this, I would have a daily scheduled expense transaction for the £50 and I would delete the transaction when I record actual spend.
In my example, currently my Budget Bar shows £553 Expense. Today is the 11th day of the month, so effectively, to stay in budget, I would have had to limit my expenditure to £550 at this point in the month. The Budget Bar correctly shows the £553 in Red as I am over budget by only £3 at this moment in time, so if I don't spend anything tomorrow I will effectively. fall back into budget.

It would be helpful if the Budget Bar colours showed both the Effective (£550)
 and Actual (£553) Expenditure, so that a user could determine whether they need to modify expenditure without running and analysing Budget/Transaction etc. reports.

  1. Support Staff 1 Posted by Ethan on 16 Jan, 2022 07:49 PM

    Ethan's Avatar

    Thanks for your suggestion. I'm not sure that's how most people make budgets though, and that change may cause a lot of confusion, if I'm understanding your suggestion correctly. I think when most people set a budget for a period, they're expecting to spend that amount within that period. It sounds like you're thinking that if one's rate of spending means that they will overspend at the end of the period if they continue at that rate, then the program should show that as overspent, or at least some kind of warning that one is on track to overspend. Let me know if I've misunderstood.

    If I have understood the basics, I don't think that's how most people's spending works, even in aggregate comparing income and expenses for the month, since one is not spending or earning at a consistent daily rate. There are days where one spends an enormous amount (say a monthly rent payment) or gains a similar amount (like payday). When these happen to occur in a period and when they would be averaged would usually give a misleading indicator. If one needs to track their spending in this way, perhaps it makes more sense to come up with some kind of weekly budgeting system, if a month is too long of a period to take into account at once as a whole?

    Ethan
    Infinite Kind Support

  2. 2 Posted by Martin Ward on 19 Jan, 2022 01:26 PM

    Martin Ward's Avatar

    Ethan,

    You are right in your understanding of what I would like to accomplish,
    although I would say that it is a proportion of the Budget rather than the
    Rate.

    I fully appreciate that if I am the only one interested in a modification
    of this type then it will go into the file MaybeOneday.

    I will continue to use my daily scheduled 'dummy' spend to estimate my
    monthly spend against the budgeted value.

    Regards and thanks,
    Martin

  3. Support Staff 3 Posted by Ethan on 22 Jan, 2022 09:55 PM

    Ethan's Avatar

    Hi Martin,

    Sounds good, glad to know I understood the request correctly at least. I think the overall idea is the same whether we use the word rate or proportion. Other users can comment on this public thread, so if we haven't correctly gauged how people want to use budgets, they can also let us know here.

    Please let me know if I can be of further assistance,

    Ethan
    Infinite Kind Support

  4. System closed this discussion on 23 Apr, 2022 10:00 PM.

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