Budgeting for non monthly items

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1

Hi, new snooper here. So far I’m liking what I see and learning some good insights and methods for managing my money.

I’ve had a look through the forum and apologies if I’ve missed anything or I’m posting in the wrong section, but I see that currently rolling budgets are not supported.

This is a feature that I’d very much like. For me, unless someone suggests an alternative method, I’d consider it essential. I am open to new ways of working but maybe a couple of examples might help.

First example:
This is simplified somewhat but I save, say, £10 every month for my child’s birthday. I transfer this to a separate account which is visible by Snoop.
My way of working is that I budget £10 each month to cover this transfer. The budget builds up so in theory I should have £120 per year. At any time I may buy something for him. I’d pay out of my main account and transfer the money in from my ‘birthday’ account. The budget amount reduces and I know what I have left to spend.

Another, maybe simpler, example:
I have a couple of memberships. One is paid monthly (call it £5) and one is paid 6 monthly, (call it £30). Both payments come out of my main account.
Therefore I budget £10 a month. £5 comes out every month but the budget builds up. Every 6 months I know that £30 of my main account balance is available for when this payment is made.

For me I need a way of knowing how much I have in my ‘memberships’ pot or want to spend from my ‘birthdays’ pot without being told I’m over budget.

Hope this makes sense and as I say, I’m open to new methods.

Thanks.

1 Like
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Hi @LordCharnock - thanks for the feedback and the examples.

You are right that right now we don’t support rolling budgets and we only track things in a paycycle/monthly period and the numbers effectively reset each month. We certainly understand how these type of budgets might be useful.

This is on our list for possible future enhancement.

Paul

3

Thanks for the quick response. I appreciate it’s not a feature yet and hope it is implemented sometime soon.

I’d love to hear from other users on how they currently deal with these or similar situations.

Thanks

4

Mines probably a bit of overkill.
I have one account where all direct debits/standing orders come out. I transfer 1/12 of the yearly direct debit amount each month and then ignore it. Any “excess” is waiting for the 6 monthlys to hit, or whatever.

I have a second account for “groceries” i.e. things we know we’ll always be buying. This is where we do our spending from for routine things

Chase let’s you have 10 savings accounts all in one, so we’ve got these set up for the “birthday” style spends and just transfer in each month, then if we buy something within our grocery shop, we transfer money across to cover