Expenses (Itemized Bills) are Here!

Hi friends,

As per our most common request from former Simple users, we’ve built a version of Simple’s Expenses feature, where you can itemize and keep track of all of your bills and due dates in one place! More info in the video below:

We would absolutely love to get your feedback and thoughts on this new feature, and how we could improve!

Best,
Jacqui

Hi @jacqueline! Quick question. When you itemize your expenses, does the autopilot then only consider those expenses in the algorithm?

Just trying to get an idea of how far I need to go in itemizing my expenses. Thanks!

1 Like

Hey David,

Yes, for determining how much to allocate to your Bills envelope. You can of course always add additional Goals, and other autonomous envelopes such as Gas and Groceries: what you enter in your itemized expenses will not impact these other Goals/Envelopes.

Also, you always have the option of not itemizing your bills, and just using a lump sum amount like before!

I hope this helps, and let me know if you have any other questions.

Best,
Jacqui

Gotcha. So, just to make sure I understand, the other autonomous envelopes are considered in the algorithm, so anything that is not recurring, could be placed in there as kind of a catch all - I know that maybe not the ideal process, but for now, would that work?

All of the autonomous envelopes and goals are considered in the algorithm! By ‘there’ (placed in there as a kind of catch all), which envelope do you mean?

Is there a way to setup an automatic transfer to custom envelopes? It looks like it only lets you setup bills to go straight to the bills envelope.

Also when using the simple expense feature, it had a meter letting us know how much we saved up for that bill as well as seeing how much we had left to save or when it was full. It would then allow you to transfer that to any envelope you wanted. Is this something that could be implemented? I don’t use the AI feature since I like to manually transfer my money to the envelopes I created, it would be nice to just setup transfers to certain envelopes without using the AI. Thanks!

Hey Ceasar,

Not currently (for custom envelopes) but down the road we are looking into allowing users to design their own automatic transfers to different envelopes. With the itemized bills you just set the amount, the frequency, and when it is due, and the AI will set aside that money in time, so you don’t even have to think about it!

That’s a great idea about seeing how much you have saved up for each bill, I will communicate to our team members working on that feature!

Also, even if you have AI, you can always transfer manually whenever you’d like to ‘adjust’ how the AI has allocated your money.

Best,
Jacqui

Hello. After listing out the itemized bills, it would be ideal to be able to go back in and edit them. Right now, I have to set them all back up if I need to make any changes/updates.

1 Like

Hey Matthew,

I just tested this, and if you click on the expense, you are able to edit it (in step 3/4 once you click recalibrate). If you are having issues with this, please let me know and I am happy to write up a step by step guide!

Best,
Jacqui

Thank you. What I am specifically asking is being able to edit them instead of “re-caliberating” them. Right now, if I want to make a change to one, I have to set them all back up.

Hey Matthew,

Thank you for clarifying! We are considering allowing users to view their itemized Bills by clicking on the Bills envelope, and I will convey your feedback to our design team!

Best,
Jacqui

Hello, is there a way to add itemized bills without specifying a vendor? For instance I tried to add my car insurance but Progressive wasn’t an option in the vendor list so it wouldn’t let me create the bill.

1 Like

Hey Eireann,

Absolutely! If you type in the name of the vendor, you will see the option to ‘add vendor.’ I’ve written out detailed instructions here, but please let me know if anything is still unclear.

Also, welcome to our community forum! We are super excited to have you on board, and please feel free to post on here anytime with questions or feedback.

Cheers,
Jacqui + the Envel team

Is it also planned to allow us to come at this from the side of the transactions that have already occurred?

I’d like to go in and classify a transaction as “Bill” or “Groceries” and have future transactions that match it automatically be categorized as such and come from the appropriate envelope.

Absolutely! Our tagging transactions feature is one of the main updates we are currently working on, and we are aiming to roll out within the next few weeks. More info here.

Cheers,
Jacqui

I’d point out that, to me, the pretty much only benefit of having these envelopes being separate accounts is that you can funnel your bills directly into them and pay from an individual envelope dedicated to that bill, so it’s a little odd that this functionality wasn’t considered from the start. Maybe I’m not thinking of other benefits that having separate accounts to bucket your money in could be. For budgeting purposes, only seeing the lump sum in your “bills” envelope is not how I think of my budget; it’s made of individual bills that need to be paid not one big amount.

Thank you for the feedback! I am going to create a post about suggestions and feedback on itemized bills today, so would love to get your thoughts if you have more. Also, with our upcoming sub accounts, all of your autonomous envelopes with be all technically the same account (with one account/routing number) but just separated into different envelopes.

Best,
Jacqui

2 Likes