What is "Leftover"?
Leftover shows how much money you can save or spend on everything else after setting aside enough to cover your Bills, Budgets, Goals, and Debts.
How does "Leftover" work?
You should remember that connecting all your checking and credit accounts is essential for Leftover calculation. PocketGuard will try to identify your Recurring Income and Bills. Moreover, this will help to calculate your total spent amount. We also include your Goal contributions in the calculations.
How do we calculate "Leftover"?
In order to get the correct Leftover amount, we subtract all expenses that you have broken down by sections from your income. Thus, you will always know where your money goes and how much you can spend or save at the end of every month.
For example, you have created several sections, let’s say - budgets ($500) and bills ($1000). In this case, your Leftover will be equal to income ($3000) minus budgets and bills = $1500.
Leftover starts over on the 1st of each month and shows how much money you have for monthly or daily spending.
Important: The “Estimated income” and “Other categories” sections cannot be modified or deleted. However, you can drag and drop "Other categories" to one of the sections. Besides that, all transactions in unbudgeted categories are listed in the “Other categories” section as well as paid bills.
You can also go to the "Plan" tab to see the breakdown of your "Leftover".
How to customize “Leftover”?
PocketGuard allows you to get the necessary context of your expenses by breaking them down into sections so you always know how much money you spend on home-related cases, or hobby, or any other aspect of your life. You can move items/sections just by dragging them from one place to another to order them the way you want.
To create a section, you should do the following:
- Go to the "Plan" tab;
- Hit + in the upper right corner;
- Enter a section name and choose Save;
To rename a section, please complete the following steps:
- Locate the section you’d like to edit;
- Hit Edit section;
- Select the Rename section;
- Enter the new section name and hit Save.
Once you decide to delete a particular section, you will have a choice to place all items below sections, so you can sort them later or migrate contents to another section.
To delete a particular section, please do the following:
- Locate the section you’d like to delete;
- Hit Edit section;
- Toggle ON if you want to migrate contents;
- Hit the Delete section.
The Plan card on the Dashboard tab
Now you are able to see your money in and money out information to better understand your Leftover. You can find this section at the top of the Dashboard tab. Simply saying, we take all your estimated and actual income received and deduct all your actual and planned expenses such as bills, category budgets, and debt payoff plans.
In case you have a financial goal, you may find a third Goal progress bar that shows your actual and budget amounts
The final result of this calculation is displayed as your Leftover, calculated as:
Leftover = Income − Expenses - Goals
For a detailed breakdown of your budgeting components, simply click on the “Plan” card to view the calculations.
Do transfers count towards "Leftover"?
PocketGuard automatically detects transfers between your banks and credit cards and excludes them from calculations to avoid double counting.
To change that, just toggle the “Don’t count” option off for a specific debit transaction (marked with the “FROM” stamp) or credit transaction (marked with the “TO” stamp).
My "Leftover" is negative even though I have money in my account. Why is that?
The idea behind Leftover is to help users spend less than they earn. This is why your Leftover is unrelated to your available balance and solely depends on your income. If you have unusual spending like paying taxes or planning a vacation out of your savings, we recommend excluding such transactions from calculations (Transaction details > toggle "Don't count").
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