Track balances over time

Looking for a way to track balances of accounts over time.

E.g. For a credit card l can see the current balance, but if l look at previous months the balance disappears.

Also, within transactions. Would be useful to see total spend by day. Currently each transaction is listed and you need to manually calculate (not just total net worth).

Hi @carlosr - you can use our Net Worth feature in conjunction with the filter option to select specific accounts. This will show you only the specific balance for the account you filter in a graph for example and you can scroll back to any date to see the balance at that point. Note - this feature is part of our Snoop Plus product and will only track balances for each day from the point you become a Snoop Plus subscriber.

You can use our custom spend reports to see spending for any or all accounts across any date range. That will also calculate a daily, weekly and monthly average spend for the period you reported against.

Does that help?
Paul

@paul_k thanks. I’ve just become a Plus member today and it says i am waiting data for the graph data.

The customer reports don’t seem to do what l am looking for. They show a calculation for an average spend across day, week, month but what would be more useful is showing balances across the date range selected.

Maybe the plus graph for Net Worth will do what l need but l don’t find the current custom spend reports very useful at tracking balances and spend. I’m looking to see balances of savings going up and credit cards going down, not an estimated average of spend which doesn’t tally to actual spend across days, weeks, months.

Hi @carlosr this is an example of a graph, using the filter on a credit card account.

The view showing here is ‘3 months’, but you can change it to weekly, monthly, 6 monthly or yearly. I’ve scrolled back to a random date in November to show you what that looks like to highlight the balance on that day.

It takes a week for us to have enough data worth showing in this feature - but obviously over time the data becomes mature enough to track the trends you mention.

Paul

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@paul_k ah great, it is there. I will wait for the data to arrive.

thanks

Great. Just to make sure I’ve made this clear above, the data starts to be collected and tracked immediately. However, we can’t go back and show you data from before you had accounts connected to Snoop. We don’t get a history of account balances from each bank - we only get a history of transactions and we don’t do any calculating of historic balances using these transactions. It would not be possible for us to accurately match what the official position would have been as each bank has different approaches to how/when balances get updated.

So after a week you will see the first week’s data and that will reflect the accurate daily balance position each bank has given us each day.

The graph above is showing multiple months because I’ve had accounts connected (and I’ve been a Snoop Plus member) for a long time. Hope that makes sense.

Paul

@paul_k thanks. l will wait for the graphs to appear.

On my other two points.

  1. All transactions. Would still be good to see a total by day instead of just individual transactions listed
  2. Custom Reports. Hoping they will be improved to provide more useful information and not just average your spend across the period.

Hi @carlosr I’ve certainly shared that feedback with all of our team, as we think about improvements in the future.

Paul

+1 on the transaction total per day (rather than having to add them up in your head). The day total could just go in the same grey/blue bar where the date is?

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@charlwillis that would be amazing.

@paul_k the graphs have started to appear now.

As per your suggestion l have filtered the accounts but confused by what l see.

  1. Credit Card with balance that has increased showing a graph with a downwards trend (despite numbers increasing)
  2. Bank account with decreasing balance also showing a graph with a downwards trend.

Am l missing something or should the graph show an upwards trend for a credit card where the balance has increased?

thanks

Hi @carlosr that sounds correct to me as the numbers that are increasing on your credit card are ‘negative’.

If you are spending on your credit card, the amount of debt you have (the amount you owe the credit card company) is increasing each time. So if you started off at zero and you spent £100 on your card, the balance of the account is -£100. That negative number will increase each day until you repay what you owe and go back to zero. If for any reason you overpaid how much you owe on your card or maybe you got a refund on a transaction, your credit card balance might go above zero (but this is rare).

If you take my graph as an example, at the point I scrolled, my credit card balance was -£626.13. i.e. I owed the card company £626.13 on that day. That’s the amount I would have needed to repay to get back to zero. The zero line is shown in the dotted line above.

For a current account, you would typically start above zero with any money you’ve had paid in, but as you spend that balance decreases each day until you next get some income.

If you filtered all of your accounts together on this graph, the positive account balances (current accounts, savings etc) would be offset by the negative accounts (credit card, loans, mortgages etc) and the overall position is your ‘net worth’. So this is ‘what you have’ versus ‘what you owe’.

Let me know if that doesn’t make sense?
Paul

image

@paul_k thanks., Your screenshot below has the zero baseline which my screen does not. It is now clearer but on my screen it was not helpful at all.

Carl