Forecasting
L
Luke
I’d really like to be able to look forward in time to see how my assets and debts look in the future based on my budgets and how I adhere to them.
O
Olivia
Merged in a post:
Forecasting
I
Ian
It would be great if there was some kind of net worth forecasting feature based on income/spending trends. I.e. if user saves x amount or % each month how will that impact net worth over time.
O
Olivia
Merged in a post:
Forecast / Plan tab
V
Vishal
Create an additional tab to allow user to project future months income / expenses.
- Allow user to edit future month’s budgets for income / expenses by the same categories that have been created for transactional detail. This would require users being able to create income categories as well as expenses to track. Income categories would be helpful to differentiate one time source (bonus) as well as to differentiate income source if it was shared with a partner
- Make use of recurring section since there could be lumpy one time annual fees that are in a specific month. (Recurring section is a nice feature that other platforms don’t have, and would work nicely to synchronize with this tab)
- Display actual vs. plan on this screen. This would allow user to see past performance against budget but also see if forecast should be updated. We can then easily see on this page MTD / YTD results, as well as how it impacts FY forecast based on actual results. Reading other inquiries, I think this is a feature many users would find helpful
- Roll over ending cash balance to future month’s beginning balance. This will let user see how their cash balance is changing over time against what was planned.
Phase II / Nice to have
- Allow user to make “scenarios” that can be saved to see how forecast has changed over time than an initial plan version.
- Show investments on this tab as well to have a “total net worth” view. Allow user to input various growth rates for investment accounts to show how that could grow over time. Additionally be able to capture the impact of transfers from cash to investments on a monthly basis.
- Various graphs can be built from this tab since it holds a lot of information
I almost made a change to Monarch app which has some of these features but they didn’t go deep enough and I loved the UI here too much!
O
Olivia
Merged in a post:
Forecast / simulations
M
Michael
Ability to forecast into future what assets look like with goals and such taking into account savings rates or other toggles that potentially tie to FIRE
O
Olivia
Merged in a post:
Projected Impact simulation
C
Chris
User inputs an amount of money wanting to spend.
Application looks forward checking upcoming bills and spending trends to show user the financial impact for that period.
User can also use a slide to see along the path of impact .