No money to budget in the current month 🤔February 2, 2019 at 9:04am (Edited 3 years ago)
I entered some money at the end of January into Actual. Distributed the budget among the categories and started to enter my expenses. But now it is February and I have almost no money :D
Fun aside. Do I have to manually transfer my money from January to the February budget, or is there an automatic process I haven't found yet?
February 2, 2019 at 6:45pm
the leftmost budgeted column is money that you arr adding to your envelope in that month. The amount on the right is carried over from last months balances. You might want to read through the long instructions page on the website. So the app encourages you to add money from this months months income so you have enough to over next months eexpens
February 3, 2019 at 3:24pm
Just looking at the balances there, if you budgeted 2,655.55 in January and only spent 422.88 then you have 2232.67 of unspent money still distributed between your different budget categories. Those positive balances will carry over to February and will show you the amount of money you currently have available to spend in each category at the moment. If you did something like matching your budgeted amounts with your spending in the different categories and putting the rest in a Savings category, then until you bring in more money in February your excess spending needs to come from that Savings category. If you have no excess spending (i.e. you still have plenty of money in Groceries, etc until you get paid) then you are golden! No need to worry about the fact that you have no additional money to distribute in February yet.
February 4, 2019 at 8:22am
February 4, 2019 at 3:00pm
Un-budgeted money does carry over to the next month automatically, but based on that screenshot, there isn’t any un-budgeted money in January. All of the available funds in January have been assigned to a budget category. There is un-spent money but that doesn’t become “available to budget” again in an envelope budgeting system. That money is either already distributed across the budget categories with positive balances in each or a big chunk of it is sitting in a single “Savings” category or something similar.
February 5, 2019 at 11:52am
Thanks everyone for participating and sharing ideas and thoughts!
"There is un-spent money but that doesn’t become “available to budget” again in an envelope budgeting system." Maybe this was my fault. I thought that unspent money gets automatically transferred to the next month and i have to re-budget again.
Thanks for the explanation!
Sure thing, hopefully it makes sense. One approach that makes a lot of sense for envelope budgeting is to get to a place where you are always living off of last month’s income. What this looks like in Actual is all income that comes in every month gets immediately assigned as “For next month”. This lets you “budget in full” at the very beginning of the month as well as deal with any overspending you may have had in the previous month. Plus you’ve got the added benefit of always having a buffer of one month’s expenses of cash in your account in case of emergencies. For anyone with the means and consistent cash-flow to do this, I highly recommend it.
January 15, 2021 at 9:02am
As far as I can see, your Un-budgeted money should be carried over to the next month automatically. I am saying that this is an automatic process, but not in your case cause I don't see anything on your account for january. Actually, you can use diffrent tools that can identify if identify your account has enough cash to run, and that is how you will find out your cash position and find potential shortfalls in your cash balances in advance. Check https://www.calxa.com/how-to-prepare-a-cash-flow-forecast-in-under-30-minutes if you want to find more, I am sure you won't be disappointed about it.