Surely you have already asked yourself why there is some information in the right sidebar of your monthly budget. Likewise, you may have already wondered what each of the information means. Well, in this article we will give you all the details of this information so that you can analyze it in an even more effective way.
First, let's start with the information for the Monthly incomes:
This information relates to the incomes you recorded on the platform. It will not change, even if you record a different amount of income in your monthly budget. If you recorded $ 2,000 in income in the month, that $ 2,000 will appear in your budget. As you register new income in the monthly budget, this amount will follow these records.
In any case, you will obviously be able to record another income amount in your budget, without any problem.
What you need to understand is that: the information in the sidebar takes into account income recorded on the platform and not the income you reported in your monthly budget.
That said, there is also information on Planned Expenses:
This information relates to how much you want to spend on your budget. If you informed Mobills that you plan to spend $ 800.00 of your income in the current month, that amount will be shown in that information. It doesn't matter if you spend less or more. The amount remains the same, as it is the planned amount to be spent.
Now, let's go to the Planned Balance:
This information makes the following calculation: Income for the month (not the income reported in the Budget) minus Planned expenses. This information is at the planning level, so it will take into account your planned expenses. The value of the planned balance will only increase if you record some more income on the platform.
Following the same logic, we have the Planned savings:
This information is the percentage of what you plan to save in the month. If you received $ 3,000 in income and intend to spend only $ 1,500, the planned savings will be 50%.
If you received $ 4,000 in income in the current month and created a plan stating that you received $ 2,000, the remaining $ 2,000 will also be taken into account, as this information takes into account all your income recorded on the platform in the monthly Budget.
Therefore, suppose you have received $ 4,000 in income in the month, but in your budget, you have registered only $ 2,000. In this planning, you plan to spend 80% of the amount of $ 2,000, which would be $ 1,600.
Therefore, your planned savings will be 60%. Realize that, even though you did the budget reporting a value of $ 2,000, the information in the sidebar takes into account your income recorded in the month. If you have not recorded any income in the current month, this information is likely to be negative. In the coming months, this should not happen, as it is understood that it will record income normally.