Creating Budgets for Groups?

Currently, I am using the Foundation Template for Tiller Money. I would like to start budgeting, I find it very unuseful to budget per the individual category. I’d like to use the catch-all group.

For example, I may have a “luxuries” group and beneath it have categories like “books, music, video games, art supplies” etc. I don’t have specific budgets for each of these individually per month, but I would like to have a budget for luxuries in general. So for example, I may budget $250 for Luxury a month, and may end up spending $50 in books one month, so I can only spend $200 on games and other things. But another month, I may not spend any money on books, so I can use that money on other luxuries.

Currently I can’t find a way to do that in the Foundation template. Is there some function or add-on I can use for this? Otherwise I am not sure how to budget effectively, since I don’t’ really budget per tiny category.

Any advice is appreciated, thank you!

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Hi,
I don’t have a workaround for your ask but it makes me wonder. What is the value of those sub categories for you if you don’t differentiate the expenses?

Tali

Hi @umbrees ,
There are a couple of ways to handle this but the way I like the best is to create a category rollup Category and put the budget in there.

For example, you might add a “Luxuries Rollup” category to your Category sheet. Assign it to the Luxuries Group. Then, put all of your Luxuries Budget into this category. Or if you want to have a budget for a specific Luxuries Budget category, you can give that a budget, but then don’t double-count and include that amount in the Roll category budget.

If you review your Group level budgets, you will be able to see if you are hitting your budgets.

There is no need to assign ANY transactions to this Rollup group.

If you don’t like the word Rollup, you could use other names such as “Luxuries Total” , “Luxuries Budget” or something like that.

@tali.lerner : I think it can be useful to see all those sub categories. It provides a clearer view of where your money is going. But not everyone wants or needs to see their expenses categorized down to the level. Using Tiller allows you to decide how detailed you want to be. There is no right answer.

Jon

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To keep transaction-accurate categories and a single budget pool, my advice would be to take advantage of the Savings Budget template if you’re not already and create a Savings category for Luxuries under whatever group you feel is appropriate. You can then transfer accumulated savings from the Luxuries category to the various categories you accumulate expenses using the ADJUST ± column.

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