Hello, for some categories of spend it is easier to budget annually than monthly, for example holiday budget since I don’t go on holiday every month (unfortunately) and potentially things like car expenses (MOT, service, insurance) and council tax.
Is this possible to set so that I can see how much left I have to spend for the year?
Totally agree with this suggestion, a rolling budget v spend would be good -
However, I am wondering if simply displaying/toggling the budget v send as month or 3 months or 12 months. A lot of monthly spending falls across month ends like a big shop in one month followed by a low spend next. So even regular-ish spending like groceries can be looked at on 3 month and 12-month basis.
As this is simply a grouping process for the data and so I guess a relatively simple change.
I would be happy to see a 3 or 12-month spend shown against the current monthly budget multipled by 3 or 12.
I would like annual budget categories. I find some annual things mess up my monthly budget which is annoying when I am looking back to compare previous month’s spends
Perhaps having customisable recurring budget times would be good?
I have some payments that go out every three weeks, one that goes out every six weeks, and one that goes out every 3 months. I can’t add them to my budget accordingly.
Hi @Emmy23 - we don’t support bill tracking for every three weeks or 6 weeks. We’d recommend you set those up as ‘Irregular’ bills and our AI will track every payment to that merchant regardless of when it happens. It will forecast the next day based on an the average gap between payments in the past.
We do support quarterly bills though (every 3 months). Our AI should spot that pattern automatically if you’ve had at least 3 payments. If it’s a new bill you can setup this manually and pick the quarterly option.
Drop us a line if you need any help with any of this?
Hi, I have been using the app for a few months now and finding it useful. However, not being able to set annual budgets for holidays, one off annual payments like car insurance etc really messes up the ability to budget accurately. It would be great if this could be incorporated into the app.
Add my vote. I find setting budgets pointless, as my budgets are mainly for a financial year. Such as holidays, house improvements, one off payments for insurance, dentist, opticians etc. The only budget wich works monthly is groceries.
Hello @Willjesuis
According to me you are looking for a way to budget annually for certain expenses and
Yes it is possible to set this up so you can track your spending for the year. Here are some suggestions you can check this.
You can create a separate category for your yearly budget to each category.
Use a budgeting tool or spreadsheet to track your expenses against these annual budgets. Update your spending regularly to see how much you have left for the year.
You can adjust your monthly spending targets to align with your annual budget.
I really like the simplicity of the UI in Snoop. I’ve used Emma and MoneyWiz. Both use the rolling method of budgeting however I find Emma has to many features aimed at selling something to me which distracts from the purpose of the app. MoneyWiz UI is a little trickier to use however is a powerful tool though with a lot of flexibility.
I don’t mind paying for an app, if it saves me time in the budgeting process. At the moment I think this is a deal breaker for Snoop. Which is a real shame.
I could definitely make use of an annual budgeting and a savings pot for each annual budget.
My monthly budgeted spend would go into an associated annual savings pot (Holiday, MOT, Service, Xmas, Birthdays etc.). However, I can’t quite get my head around how I would allocate the actual annual big spend to stop it messing up my monthly budgets and spending graph. Perhaps by applying the ‘Exclude this transaction from my spend analysis’ or by creating a category and excluding it from spend analysis (don’t think the latter is possible though).
As an extension of the savings pot it would be useful to be able to see, within the budget screen, the level of cash saved in the pot. This feature would be particularly useful for spending that would ideally be annual but might happen sooner; a car breakdown and associated mechanic fees.
Is this something that has been discussed before (apart from the thread above)? If so I would appreciate a link.
If not, should I start a new discussion (though I do seem to recall Snoop announcing/exploring savings accounts - not sure if the proposed savings accounts would work this way - I would require several pots in that savings account account to achieve what I want).
Thanks in advance.
Thanks for the great suggestions @Geebea - our next major feature is an easy access savings account and this will be with you in a few weeks. We won’t be doing pots within this savings account in our first phase, but we will certainly be gathering feedback from customers about how we can develop new features to complement the savings capability once that’s in place.