Savings Budget Template Guidance, Last Month Funds This Month Strategy

Hello, Thank you in advance to any and all who take the time to try and help out. I greatly appreciate it.

I am using the Foundation Templet with the Savings Budget and Savings & Debt solutions.

How I would like my page to work is to use last months income to fund this months spending.

For example: If I make $4,000 in March, now I know I am able to spend $4,000 in April and not have to pull from savings to pay for any over spending. I don’t like to hope I make the money I expect to make. That got me into a spot of bother last March when the world shut down and I had already done a bit of spending in early March and I had anticipated making money to cover my extra spending but instead I was laid off. Live and learn so here I am hoping to take the cautious route.

Is it possible to set up my budget to have last month income fund this months spending?

Thank you again for your help. Also, this is my first time using sheets. I have limited knowledge in excel so in the words of Michael Scott, " explain it to me like I’m an 8 year old." lol. Thanks again.

Kyle

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Hi @kad13, and welcome!

I believe that the easiest method would be to use your previous month’s income as your current month’s income budget. This requires no workarounds or fancy formulas. You can assign that budgeted income to any planned or unplanned expenses as normal. You can use the Budgeted Monthly Cashflow sparkline to see how much budgeted income you have left to apply to expenses. Once it approaches $0 or negative, you have exhausted the money you earned the previous month.

I hope that helps!

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I’m impressed with how nimble you are in creatively using the tools to solve specific problems, @cculber2.

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@cculber2 , thank you for help! Super simple and easy… I wish I had thought of that!

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