The Simplifi Spending Plan takes the worry out of your monthly spending decisions by keeping track of your finances for you!

The Spending Plan is designed to be a simple budget based on your monthly expected income and bill transactions, ensuring you aren’t spending more than you make in a month. So, at the beginning of each month, Simplifi will create a custom plan based on the expected income and bills transactions that you told us about. Note: The Spending Plan uses actual transactions you’ve received or expected to receive, meaning it does not consider existing account balances.

The Spending Plan will show you at a glance just how much money you have left to spend, updated in real-time.

How Does it Work?

The Spending Plan divides your monthly spending budget into four parts:

  1. Income after bills and saving is the amount of money left to spend after subtracting both your paid and expected bills, subscriptions and savings goal contributions from your income (both received and expected) for the current month. Simplifi uses the Recurring transactions you've told us about to determine the totals.

  2. Planned spending is the amount you plan to spend on items that fluctuate each month, such as gas and groceries, as well as any other one-time expenses for the month.

  3. Other spending is an up-to-minute tally of the rest of your spending for the month, adjusted every time you update your financial activity in Simplifi.

  4. Available in the amount left to spend after deducting the Planned Spending and Other Spending totals from the Income after bills and saving total.

Each of these areas, except Available, can be expanded for more details.

See Where You Stand

You can review and manage your current spending with several helpful tools that are easy and intuitive, and fun to use!

The Other spending area shows how much you've spent to date in each Category. You can move the colorful Category bubbles around as you like, and they expand when clicked on to display all transactions for that Category.

The amount displayed under Available in the bottom left of the Spending Plan is the total amount of money you have left to spend for the month, also broken down into a per-day average, updated in real-time.

Manage Your Fixed Income and Expenses

You can see how Simplifi calculates your Income after bills and savings amount by selecting any of the three budget areas shown to the right. These expandable lists allow you to view and edit all of the items in each group.

  1. Income is made up of all of the sources of income you’ve set up as Recurring Transactions, such as paychecks, and is updated with any additional deposits you receive throughout the month.

  2. Bills & Subscriptions are all of the expenses you’ve set up as Recurring Transactions for each month, such as phone services, insurance, utilities, and mortgage/rent. Click here to learn more about adding and editing Recurring Transactions in Simplifi.

  3. Savings Goals include any amounts you’ve set aside to save toward any goal, such as emergencies, weddings, and vacations. Click here to learn how to set up Savings Goals in Simplifi.

You can view, edit, or modify any of the information for each of these budget areas by clicking on the arrow to the left of each group. Simplifi will display a list of the items included in that group.

If you want to adjust the total amount for a specific group manually, you can do so by clicking the three dots to the right of the total and selecting Set Custom.

If you need to edit or delete one of the transactions listed in a group, click the three dots to the right of the transaction amount, and choose the appropriate option.

Manage Your Planned Spending

You can plan for other various expenses in the Planned Spending area. Here, you can budget for items that fluctuate, such as gas and groceries, or for other one-time expenses that you're anticipating or planning for that month.

Once you think you've spent all you're going to spend for the month in each area, you can release the funds for that expense back to your Available funds by clicking the three dots to the upper right of the expense and selecting Release Available for spending.

To learn more about using the Spending Plan on the Simplifi Mobile App, please click here!

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