MID MONTH RESTART

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  • Updated 4 weeks ago
We are trying to restart using Goodbudget after a few months of not using. We reset all envelopes to zero and updated accounts. Since it is the middle of a month, if we fill the envelopes it will include expenses that were already paid this month and the accounts only reflect balances as of today not funds that were already used this month to pay for things already. Is there a way to reconcile this or should we wait for the beginning of a new month to restart?
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Gary

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  • confused

Posted 4 weeks ago

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impaler

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That's a great question. You really can start over any time. In "Manage Household", just click on "Clear All My Data". It should keep your accounts and envelopes and will just zero them all out. Then put in today's account balance, which I think will put it all in "Unallocated", and allocate it back out for the remainder of your pay period. Then when you start your next month, you'll be able to repopulate for the coming month. 
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Tiffany Kucifer

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If you don’t want to lose prior data, and really want to start right now, I’d recommend the following (labor intensive) method: determine how much should be left in each envelope. For those with a smooth spending curve, like “dining out”, just fill the envelope with your budget x 0.45 to give you the amount remaining in November. For those that don’t spend smoothly, like one that contains a rent or car payment, just deduct the payments you’ve already made from the total budget and fill with the remainder. For example: “Dining Out” monthly budget is $300. 300 x 0.45=$135 fill for the remainder of this month. “Monthly Expenses”=$2500 but rent ($1000), insurance ($250) and car payment ($500) are already paid so just fill with $750 for this month. Next month, have your fills occur on the first and you’ll be back on track.
I hope that helps!