Envelopes based on percentage of income?

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  • Idea
  • Updated 2 weeks ago
  • Not Planned
Ok, I just downloaded this app today, and I must say... "ITS AMAZING"!!!

One thing that I would recommend though would be the ability to fill or refill the envelopes based on a percentage of the income. In my profession income varies greatly, so amount on envelopes should too.

Less monthly income = Less amount in envelope!
More monthly income = More amount in envelope!

Would be a great addition to the app!

Thank you for a great app anyway!
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Martin

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Posted 9 years ago

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Matt Crawford, Employee

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Hi Martin,

Thanks for the suggestion. Others have suggested this as well (see, for example, http://getsatisfaction.com/easy_envel...) and it's in our future-feature tracker. Glad you like EEBA!
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IYOK

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I am new to EEBA and I like it very well too. But I will be waiting for this feature. I budget by Tithes/Offerings (10%), Savings (20%), Contingency Fund (5%) and Discretionary Spending (5%), depending on my income.
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Audrey Chau

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Thanks for the input. I will add you voice to the feature-tracker as well. And welcome to EEBA!
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MarkM

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Add my voice to that as well! It'd be great, too, if you could make it on a per-envelope basis. I.e., my utilities are a set amount each month, not a percentage of my income, but I'd like my savings to be a percentage of my income.
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Steven Tafzil, Employee

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Hi Mark,

Thanks for the suggestion, I've added it to our tracker, thanks!
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Sandy Wickert

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I am in the same boat, I do not have a regular income, and my income comes from 3 different places. The amount that goes into my envelopes is based on percentages of how much I earn. I would like to be able to do rememberd "percent" refills for the 3 different places I receive income; the amount I receive will change each time but the percent that goes to certain envelopes would not change.
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Becky Huang, Official Rep

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Hi Sandy,

Thanks for sharing why you'd like to have the percentage income feature implemented. It's helpful to understand where users are coming from! I've added your voice to our tracker as well, thanks!
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Elizabeth Youngdahl

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which is another way of saying... it has been three years and percentage deposits is not yet a feature. Is that correct?
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Elizabeth Youngdahl

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according to this and link cited above, it has been three years and this feature is not added. I'm happy that EEBA works for people with simple income/expense budgets... EEBA is exactly what I need EXCEPT... Income is erratic! Please help!
what sort of "work-around"are other self-employed people using?

https://getsatisfaction.com/easy_enve...
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Becky Huang, Official Rep

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Hi Elizabeth,

You're right that this has been a request that hasn't been implemented yet. We hear you and we haven't forgotten about this request, but we've do have limited resources, so we've had to prioritize which features that we implement. We will definitely update this thread when we have more to announce.

In the meantime, for most of our users, we recommend adding your income as you receive it and keeping it Unallocated. Then you fund your Envelopes by priority, being sure to leave some Unallocated so that you can build a one month cushion. Once you build a cushion in Unallocated, you can fund your Envelopes using last month's income! Read more about it on our blog: http://blog.eebacanhelp.com/2012/09/y...

If you have a question regarding your specific Household, you can email support@eebcanhelp.com and we'll be happy to figure out how EEBA can best work for you.
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Oksana Bogovarova

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Yes, yes, yes! That was the first thing came to my mind when I got this app.
Otherwise its a very good product!
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Becky Huang, Official Rep

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Hi Oksana--I've added your voice to our tracker as well! Glad you like Goodbudget so far!
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M&M

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The link to the tracer seams to be broken, so I would just like to add my voice.

A Tithing envelope that would work off a percentage of your income would be great.

Love the site and the App all of this is a life saver. THANK YOU!
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Thomas Edwin Hughes

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The percentage idea is long due, now. I need a percentage envelope and I need to be able to set this as the first thing that is filled. For me (possibly others) this envelope is for tithing and is the first thing I set my money aside for. I do the full 10% as well, but there have been times in my life when I had to do less or I did more because I was in a situation where I could afford to tithe more, so the percentage must be something we can set and not limited.

Please allow for such an envelope and please allow for it to be set as the first envelope to fill. Don't give us a work around. Just implement what was a "future-feature" over 4 years ago.
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LPFiggy

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This reply was created from a merged topic originally titled Also show envelope budgets as % of monthly budget?.

I'd love a feature that also shows my envelope budgets as a % of my monthly budget, as well as a $ figure, to help implement budgeting strategies like [50% bills, 30% lifestyle, 20% savings]. I love the app, I have used it religiously for 3 years and I couldn't live without it, thank you!!
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Becky Huang, Official Rep

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We're thrilled to hear that Goodbudget (and EEBA) has been part of your life for the last three years! Thanks for your feedback about fills based on percentage. We currently aren't working on this feature, but you can see what we are working on on our Roadmap: https://goodbudget.com/roadmap/
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KgnJam

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I'm adding my voice as well. In fact, this for me has been the number one reason why my interest in the app has waned, because I have to do the calculations myself anyway. So for now I've resorted to a spreadsheet where I can decide if I want a particular category to be a % or a fixed number. But I'll be happy when this feature comes out and will probably be right back. 
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Karisa Russell, Official Rep

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Hi Akilah - Thanks for adding your voice. I've added your vote for this feature. As of now, we're not working on an enhancement like this, and we'll update this thread if that changes. 
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Cesar Orlando Pallares Delgado

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I'm also adding my boice. I just found today the app and already suscribed, since it has all that I wished for. However, I distribute my income across the envelopes using percentages, so It would be very usefull to have such feature to make it easy for me
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Karisa Russell, Official Rep

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Thanks for adding your vote!
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Savy

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I'd like to add my voice on this. As a freelancer with erratic income dates, this will definitely help a lot!
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Alex Park, Official Rep

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Thanks Savy -- I added your vote!
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Gabriel Sepulveda

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I really really hope this gets implemented.

I've been searching for this feature in an app for weeks now, to no avail.
If Goodbudget implements it, it will be the first app (to my knowledge) that has this feature, which is extremely important for a very very large amount of people who don't have a consistent income. 

In fact 1/3 people in America are freelancers, and some estimates say that within 5 years, half of the US population will move into the gig economy. 

If Goodbudget implements this, they will be one of the first apps to be able to cater to that audience. And they can market themselves as like "budgeting for freelancers", or "budgeting by percentages"

I think I speak for a lot of people here when I say that we REALLY want this feature, and will try and find an app that implements it. Not even huge apps like Mint have this feature.
And I've read reviews of these apps that have said that they wished that it could budget by percentages. 

If this was a feature that was added to "Goodbudget plus", then I would 100% buy it. It would be a huge incentive since I can't find it anywhere else, and I bet others would too. 

I just wanted to give my 2 cents, thanks. 
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Alex Park, Official Rep

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Hi Gabriel,

Thanks for sharing your detailed thoughts on why you (and others) would find such a feature important. I've added your vote and your thoughts to our tracker for this request!
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KgnJam

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I really really really really hope this gets done. I stopped using Goodbudget because of it. I'd have to do calculations outside the app anyway, so I just created my own spreadsheet which can automatically calculate the percentages for me. The downside obv is that the expenses are harder to keep track of. So I just do a global thing rather than detailed expenses.

I've been checking every 5-6 months to see if it has been implemented yet, but to no avail. The day it gets done is the day you get me back as well as all to whom I will recommend it. 

Plus, as Gabriel pointed out, you'll be waaaaay ahead of your competition. Don't wait for one of them to do it. Do it first. That WILL be a maaaajor selling point and will win you lots of customers and regain old ones. 

It's been on the list for 7-9 years now. If you're not going to do it, just say so. But if you are, it's high time.
(Edited)
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Gabriel Sepulveda

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I agree! :)
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Cesar Orlando Pallares Delgado

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Man, if this gets implemmented it would be such a hit.....it would cut so much the time I devote to goodbudget!!

I hope
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Gabriel Sepulveda

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I agree!
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Paul

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I agree. I developed a spreadsheet that does all that for me. I’m not a tech whiz or Excel expert so not sure why this should take so much time for experts to do it. Whenever I add or change envelopes, it just recalculates everything and won’t let you budget more than the amount of income you tell it you have available.
(Edited)