Dynamic Budget
This is the option of only a fixed budget for which we have to decide the amount. But what if there is an option to determine the amount automatically? For this there are 2 ideas:
1) Average amount instead of fixed: Instead of manual input of amount in the budget we can use options like last month's spend, 3 month's average, and 12 month's average (of selected categories only). For example, a monthly budget can be the last 3 months' average spend.
2) Carry Over Balance: Carry over the balance of last month's budget to the next month's budget. e.g. spend 90 out of 100 budget in august. so the remaining 10 should add to next month's budget so sept. budget will be 110. Same as if we overspent, if spent 105 from budget 100 then next month budget should be of 95.
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Alex commented
How about a dynamic budget that subtracts the cumulative current payments from a fixed budget for a defined period and allocates them automatically according to desired rules. Example: my annual travel budget is 100. In the six months of the year, my actual travel payments total 40. This leaves a balance of 60 for the year. My desired rule is to allocate this balance equally over the remaining six months (i.e., 10 per month in this example).
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Robert Jurd commented
I like the average amount instead of fixed with the option to manually override the amount for that month.
The average amount to include planned payments
Dynamic in such a way that ALL categories are automatically added to the monthly budget (or period of choice).
I'm not sure of the carry over balance, that might be an optional setting?
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Iffat commented
I fully agree on both ideas.
1. Could be Meals budget (category/sub-category) be 5% of monthly income for example.
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Kamil Wójcik commented
The first solution has no sense for me, but the second one is what I miss a lot.