Budget App That Gives Me Future Net Cash Requirement?

auMouth on 17/01/2018 - 16:22

I'm looking for an app (preferably with MacOS, iOS, and Android support) with multi-user support (wife and I) that we can use for budgeting, AND will show future cashflow requirements/issues.
For example, I can enter fortnightly/monthly income, and recurring expenses/bills. It will tell me that in month xx (eg. August) that I have several annual bills due (eg. insurance and rego) and that my income and cash requirement will not be enough for that month, and thus I have to save extra during upcoming months.

Despite investigating many apps, I've not found one that will yet tell me that forecasted/scheduled income in future month(s) is lower than forecasted/scheduled expenses for the month(s).

Any suggestions/recommendations?

Financial

Comments

  • mysterytal on 17/01/2018 - 16:33
    +1

    Spreadsheet? Make your own.

    I personally split all monthly and annual expenses into fortnights as I'm paid fortnightly. I then transfer that amount to a bills account which the direct debits come from then figure out what's left and aim to spend no more than that each fortnight.

  • zonra on 17/01/2018 - 16:52
    +1

    Not an App but I use a spreadsheet (eg Excel) for budgetting, not as convenient as a mobile app but can be much more flexible in terms of functions.

    Edit: beaten by 20 mins, note to self: refresh pages before commenting..

  • tsunamisurfer on 17/01/2018 - 17:02
    +1

    I personally use a spreadsheet because it is the most powerful.

    I use this one….and yes it does cashflow forecasting in Row 96 (the grey bar) provided the figures are entered correctly. Although it is old it is still very much relevant.

    https://www.amp.com.au/data/calculators/budget-planner-sprea…

  • donbot on 17/01/2018 - 17:08
    +1

    Cloud based spreadsheet (eg. Google Docs/Smartsheet). Pay periods along the top as far out as you want to forecast, and below it your expenses that must be paid each pay period, including a 'pay yourself' amount that is discretionary spending (eg. non bills spend).

    Very easy to do, and once you get on top of it, you can maintain records of different 'buckets' of savings that you track in the spreadsheet. Bills, Rates, Body Corp, Savings - and put amounts into them each pay so that every pay you are saving the amount of the bill that is needed to so you can pay it in time.

    Eg. If I have a $600 annual bill due in 6 months, and get paid monthly - I should save $100/pay between now and then to pay for it. Once its paid, I can go back to saving $50/month as it wont be due for another 12months.

    We have 1 offset account (cant have more). Within it are 12 'buckets' that I track amounts - so the total of all the buckets is the balance in the offset account. When we receive a large bill (eg. Health Insurance annual renewal) - the money is 'in the bucket' and we dont notice it being paid.

    I read from here that some people track every dollar spent - but to me thats overkill. I track bills (so I know to hassle insurance companies, utility providers to drop their price come renewals, etc), but not anything on discretionary spending as its something I dont see any value in - I pay myself each pay period, and whatever I blow that on doesnt matter.

  • bumblebeetuna on 17/01/2018 - 17:08
    +1

    Think you may be referring to services like moneybrilliant, or pocketSmith?

  • Randxyz123 on 17/01/2018 - 21:44

    Daily budget for iOS does exactly that.

    Don't know about multi users but it's fantastic for one person. It'll allow you to enter things that are due like bills etc. Can you both just use it? Or enter combined income? Or have separate budgets e.g. wife car, your car etc

  • mindapoocha on 18/01/2018 - 20:43
    +2

    I used the spreadsheet from https://pearbudget.com/spreadsheet and customised to suit.
    This can show you how much money will be left/required each day.
    You may need to make some changes to make it auto-fill based on the frequency of your bill/payment forecast.

  • MITM on 27/01/2018 - 12:12
    +1

    Years ago I remember using a PC based software that indicated where you're at with your spending on a calendar (under or over budget/ahead or behind schedule).
    For example apart from regular monthly/weekly/daily (coffee) expenses, you'd enter foreseen non-regular expenses such as a set of tyres or holiday etc due in say 4 months time and the indicator would adjust your needed savings upward so you had the funds ready in 4 months.
    It's not a savings planner but a spending planner and almost tells you how much you cost to "operate" in real time.
    Not sure there is an app version but here is the link to the website (not to be confused with the "as seen on TV" insolvency business 'MyBudget' that takes care of all your overdue bills for you for a fee and lists you on credit watch)

    https://simplybudgets.com.au/

    And I found this deal on Groupon if it still works.
    http://www.dealsextra.com.au/business/Simply-Budgets.php

    PS I have no affiliation at all.

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