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Budget Management

An essential part of financial manager is budget management. I love this app (that’s why I bought it) but I think the budget management feature is too rigid. I want to suggest the following: Transferrable Budget As the name goes, we need to be able to transfer amount from one budget to another. For example if I have a budget of $200 for fuel and have overused to have a deficit of $20. I can transfer budget from other less important budget. I can transfer a budget from my groceries for $20 to fuel, to make it $0 and now I have to live with less budget in groceries. This feature is important to management your spending and setting expectations. Income to Expense Category (Budget) This is again important if I have a deficit. If I have a deficit of $20, I may decide to work part time to cover my deficit. So if I have an income of $20 and put it under expense budget, it will increase my budget to $0 and now I can live happily without any deficit. Editable Budget Amount I can see the current feature made that only categories are editable once a budget is made. Allowing the amount to be edited is also a good idea to allow freedom in budget management. I hope you can consider my suggestions. Would definitely recommend to my class of personal management 😁

Anonymous About 7 years ago

2

Budget Statisctics

There should be an overview in the statistics/reporting section that shows for the configured intervals how you managed to work with the budgets. It should be shown how often you did not hold to the budget and how much money more/less you spent. Additionally a sum/average over the last intervals would be interesting as It often happens that I spent too much money for a budget one month but only because I know it will be much less in the next two. It would be good to have a way to control this. The average over the last month should also be displayed in the details of each budget. Otherwise there is no way to control, if you really should spent money. Example: Last month I totally exceeded the budget. This month it is still "0 Euro spent". I could just start spending money. But It should show that I have to "keep calm" this month because of the last one. Same may apply if last month nothing was spent. In this case it would be good to see that I may even go above my budget this one because I saved money the last interval.

MoneyCoach [Official] Over 7 years ago