I was wondering how other people managing large and Irregular payments.
I have setup myself a savings target for the year based on what I am expecting to earn and translated it into a monthly expenditure budget that would rollover if I haven’t incurred them.
I have considered a budget for big payments that are not monthly and discretionary, like holidays, house enhancements, etc
The problem is that some of those expenditures are embedded in subcategories and when I look at a higher level seems like I am doing OK and on track to meet my budget, but that doesn’t reflect that I shouldn’t have spend a single pound on a subcategory…
I thought having the possibility to create multiple overlapping budgets with different periods (monthly, annually) or being able to manage with more detail how budget rollover happens (being able to toggle rollover by category/subcategory) would be a good option.
I am keen not to exclude transactions or treat them as investments or savings, as I want to have the insight on my expending patterns, especially with non-discretionary vs discretionary expenditure…