Budgeting

I believe Quicken should have an improved Budgeting tool as part of its planning tools. My idea specifically includes



*Creating an option to budget annual spending limits for spending in a specific category as opposed to having to specify a set dollar amount month by month, and



*Creating the ability to budget annual spending limits within a parent category that accounts for all the subcategories under it. For example, if the parent category is Automobile and the annual budgeted amount is $1,000, I believe spending in the subcategories under Automobile (ie. Fuel, Maintenance, etc.) all should deduct from the $1,000 annual budget set in the parent category Automobile. Currently, Quicken makes you define specific amounts for each subcategory which can be challenging to budget for month by month.
0
0 votes

No Status · Last Updated

Comments

  • Dave CashmanDave Cashman Member
    edited January 23
    Hey Jason.  Here is an idea that I tried some time ago that I think may work.  Not exactly what you are looking to do, but works for me.  I determined my annual budget for a category.  Then I have an "other" subcategory.  I put the whole annual budget amount in the January budget of the "other" sub-category so it rolls to the parent category.  I leave all the other sub-categories at $0.  When you post a charge to another sub-category, say Fuel for instance, it will then deduct from the Parent Category such as Automobile in your example but it will still let you see where the expenses go.  Test this though on an category.  Pretty sure this works as I recall.  The only thing I can' remember is if you post to another sub-category that had $0, does it actually then add to the Parent category budget?  I don't think so but, test it.  2nd thought, might want to call that something different from "Other" sub-category for your budget amount since "other" is usually the catch all sub-category for misc items in a category that you don't have a sub-cat specified for or forget to sub categorize when posting.  Dave
Sign In or Register to comment.