Currently all round ups are categorised as ‘savings’, with seemingly no way to change this. In my budgeting system I don’t consider them to be savings, based on the pot they’re going into, and so this makes my trends harder to interpret and categorisation generally less useful. Especially since there’s so many tiny round up transactions that it’s not feasible to remember to manually change them all.
There should be a way of specifying, for a specific round up instance, what category all of the transactions should have.
In my budgeting system, the only things I’d count as ‘savings’ are payments into long term savings accounts. I have some different round ups into different pots active, and these pots are mostly not for long term saving, and instead just slightly deferred spending. Also, by counting the transfer into the pot as ‘savings’, it essentially double counts the transaction - I would rather all transfers in and out of pots were counted as ‘transfer’, and then only the outgoing payment to merchants is categorised. Otherwise trends are messed up.
Roundups by nature are to save - Savings would be correct.
Your use for those Savings is to spend it at a later date (saving for another spend), which when you withdraw from the Pot, it’s Transfers, and then the spend is whatever category you’re spending it on.
By this logic the value of all round ups would be double categorised as both savings and the final spending category, which is what I’d like to avoid Whilst what you’ve said might make complete sense for your own budgeting system, it doesn’t work for mine, and having the flexibility to customise this is what I’m suggesting.
In your conception, yes. But @padowan has a different way of managing things.
While you’re right in saying saying that it doesn’t work that way at the moment, I think it’s useful for there to be space on here for folk to suggest new approaches, features or functions, rather than trying to fit everything into someone’s world view or the current feature set. That is, after all, how we get progress!
This is true and something I’ve thought about before, in my mind I think of saving as for many years towards something like a house deposit, pension or investment. These are of course just deferred spending too though as you say.
I think my preferred situation would be one where the default behaviour is likely as it is now, as that makes sense for most people, but also having the flexibility to customise this for more niche personal systems
This is a good idea, and makes sense to me - we can select the future category for spends at a certain retailer, it would make sense to be able to select the default category for our roundups based on how we individually want them categorised too.
Whilst what you’ve said might make complete sense for your own budgeting system, it doesn’t work for mine, and having the flexibility to customise this is what I’m suggesting.