Spendable Balance Overview
Spendable Balance
The "Spendable Balance" is a section on your Overview that shows you the amount of money available for non-essential spending as of the specified date and time. Your discretionary spending balance.
The idea here is that you now have a safe-to-spend balance that won't affect your essentials like rent, utilities, groceries etc. It also considers your savings goals and how much you need to set aside.
Now, when you leave for work in the morning, you have an idea of what you can spend without causing cash flow stress.
Parts
- Spendable Balance: Indicates the amount of funds allocated to non-essential spending from your budget.
- As at <Date>: The information shows the timestamp of when your Spendable Balance was last calculated.
- Monthly Remaining: $ 4,506.96
- This shows all the non-essential funds allocated from your budget that has not yet been spent.
- Daily Remaining: $375.58
- This indicates your non-essential budget balance average by days remaining in the budget cycle (month).
Expenditure Details
- Total Amount Spent: $2720.59
- This includes all expenditures made within the current budgeting period.
- Total Budget Amount: $7,227.55
- This serves as the benchmark for managing your expenditures. This area is based on your Non-Essential Goals on your "Budget" Page.
Essential Catagories
Essential categories are those that you can't do without, like housing, utilities, groceries etc
Non-Essential Categories
Non-essential categories are mainly lifestyle or spending that's not your core living costs i.e. events, cinemas, fast food, clothing, cafe etc
And no, these are not editable. A large amount of time and effort has gone into our categories and the smarts behind them. This is what we call 'structured data' that needs to be set in this way so that other features can give you more accurate recommendations and insights. These are based on industry standards. Trust us!
Note: SortMe typically sync at least twice per day (early morning and in the afternoon).
This financial overview highlights the importance of budget management and monitoring. With the entire budget for the month and day, it is crucial to reassess spending habits and make necessary adjustments. Overspending can lead to financial strain, and it's essential to identify areas where expenses can be reduced to stay within budget limits.