How much money will I have next month, next year? We help you answer questions like this and discuss related topics around forecasting your future cash balances. We also post tips and tricks to help you get the most out of Money Forecaster.


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New Features - Monthly Income and Expenses Breakdown
4-July-2017

Money Forecaster now includes more features to help you understand your Income and Expenses and view them at a monthly level. From the dashboard, you can now view Income and Expenses in a monthly breakdown view and see your top Income and Expense items for each month directly on the heatmap.

Dashboard - Monthly Income and Expenses breakdown

Dashboard - Monthly Income and Expenses breakdown

The Money Forecaster Dashboard now includes a new Monthly Income and Expenses breakdown feature.

Now you can quickly move through each month of your forecast and see a breakdown of your Income and Expenses. Maybe you have particular months where expenses are high? Use this tool to help organise your payments and smooth out your total monthly expenses! We also haven't forgotten about income, your total monthly income is also included.

With this new feature, your monthly forecasted income and expenses are now very clear and you can analyse your forecast results even further with ease. Give it a try yourself!

Heatmap - Top Monthly Income and Expenses

Heatmap - Top Monthly Income and Expenses

The Heatmap now includes a summary of your Top Income and Expenses when you hover over a particular month.

Now you can find those months in the year where you think you are spending more than you're earning and easily see the Top 5 expenses for that month (Type Expense % of Income or Expense selected).

Maybe you want to focus on Income? Here you can see the Top 5 sources of Income for each month (Type Income selected).

Also, when viewing the heatmap as type Balance % Change or Balance the Top 2 Income and Top 2 Expenses are shown. Give it a try yourself!

Time Travel Into The Future
28-April-2017

Want to time travel into the future & see how much money you could have?
Time Travel through your future cash balances day by day, month by month, year by year with Money Forecaster!
Find out how much money you could have by forecasting.

What Can You Do In 30 Minutes?
21-April-2017

What can you do in 30 minutes? You can watch your favourite TV show, relaxing is important! Maybe get some exercise and walk the dogs (all of them in this case!). But in 30 minutes you can also get started forecasting your cash balances.

For many people learning about your finances can feel like a chore, but this doesn't have to be the case. Give forecasting your cash balances a go when you next have a spare 30 minutes and you might be surprised how fast you start seeing results. You will start learning more about the expenses you have and how they could impact you in the future. You can also learn about trouble periods ahead, or, the forecast might be very positive and it's smooth sailing ahead for you.

Without a forecast, for many people their financial future is simply a mystery.

Money Forecaster has been purposely designed from the ground up to be easy to use right from the start. It provides an easy and straightforward way for you to run a forecast and get a clear picture of your potential financial future. Most importantly you don’t need any previous experience to start forecasting. All the key information to get started is provided and with this tool you are set to start learning lots about your finances.

What will you use your next spare 30 minutes for?

Remember we are here to help, contact us for more information or help.

Thinking Of Buying A Second Car?
8-April-2017

Are you thinking of buying a second car? It’s a great feeling when you drive that new car towards home, the car with its trademark “new car smell” and soon to be a trusted new second resident in the garage. But have you made a good financial decision?

It’s very easy to get carried away spending more than you initially wanted to spend. You take a test drive in the premium model, because the model you really want is not available for test drive. Then you start thinking, maybe you would like more than the base model you have been researching for weeks.

But, can you really afford that premium model? This is a good time to take a step back and look at the long-term impact of this potential purchase. Buying that second car is the easy part, paying for it into the future is not always that easy.

Here is a great example where a comparison forecast can help you compare the long-term impact before making that final decision. It doesn’t mean you shouldn’t get what you need or want, but you have the power to make an informed decision first. For example, you can forecast forward 3 years and see what’s the potential difference to your cash balances based on the base model car versus the premium model car. What’s the impact and can you really afford it.

You will be able to answer questions such as, how much money will I have in a few years, can I really afford this and is now the right time to make that decision.

When running a comparison such as this don’t forget also about the Total Cost of Ownership. Be sure to include all expenses in your decision, such as insurance, monthly payments, the end of lease payout figure, servicing costs, annual registration, additional fuel now you have two cars, etc.

Get Started Forecasting Your Future Cash Balances In Just 4 Steps
22-March-2017

Getting started with Money Forecaster is easy and in just 4 steps you can be forecasting your own cash balances.

It's also a great way to get your accounts and income and expenses organised. Do you know all of your Accounts and their Balances? Do you already know all of your Income and Expenses? If not, while getting started with Money Forecaster you soon will.

First off to determine your current Cash Balance you will add your Account Balances. All of your savings accounts, less your credit accounts total to make up your current cash balance. This is the starting point for your forecast, so keep these balances updated as they change over time.

The second step is where you review and add your Income & Expenses. These can be added as Recurring or One-Off and are used to calculate all of the changes to your cash balance over the forecast. You might already have a list of these or might need to start reviewing your bills and account statements to find them.

The third step is optional (you can always come back to this later) and is where you can Setup your What-if Scenarios. Scenarios allow you to make comparisons between different situations. There are two types of Scenarios for Income and Expense items, Base Scenario (included in all forecasts and on both sides of a comparison) and Comparison Scenarios (Income and Expense items that you would like to compare).

For Example, you might wish to compare your current situation against starting a New Job. For this scenario you could add all income and expenses to the Base Scenario and the specific differences that relate to the New Job, such as a pay increase and additional parking expenses to Scenario A.

You are now set to Start Forecasting on your Dashboard. All your efforts in Steps 1 - 3 now pay off. You can run a Single forecast or if you would like to compare one Scenario with another you can run a Comparison forecast.

You future cash balances now no longer need to be a mystery, you can easy visualise your forecast results:

  • Chart - Visualise the forecast, including Goals and Historical balances.
  • Heatmap - See hotspots in your Forecast such as Expenses or the % a balance changes.
  • Daily Data - Get down to the precise detail with daily forecast data output.
  • And many more to explore...!

Remember also that Money Forecaster can be loaded with extensive Sample Data to try out all of the features.


Making 'What If' Decisions With a Comparison Forecast
16-March-2017

Whether you're looking to buy a new house, start a new job, or anything else you can possibly imagine, being able to decide whether it is possible financially is key. Money Forecaster can help you make these what if decisions by forecasting the numbers for you and giving you many ways to visualise the results.

In this example we will forecast the possibility of starting a new job and compare it against the current situation (base).


Sometimes you might just need the forecasted final result to make the right decision, that's where Quick Forecast comes in. When running a Comparison Forecast, Quick Forecast gets straight to the point. It provides the start and potential end figures for the normal scenario (base) versus your comparison scenario (your potential new job).

In this forecast we see a large difference in 5 years time comparing the normal (base) scenario with the comparison of a new job.

Forecast Summary breaks the forecast down into bite size pieces. Side by side showing the forecasted difference year by year. Forecast Summary intelligently shows you the right amount of months, years or a combination of both based on the overall length of your forecast.

The Forecast Chart shows you the detail at the level you need. In this example we can see the forecast climb at a higher rate in the new job and can also see the Goals forecasted to occur sooner in the new job scenario.

With Forecast Chart you can zoom in on particular areas that need some investigation and hover over them to see the forecast balance at that point in time.

Quick Forecast Zoom
Forecast Summary Zoom
enlarge
Forecast Chart Zoom
Run a 5 Year Forecast On Your iPhone In 3 Steps.
13-March-2017

Maybe you have a few spare minutes on the go. Running a forecast is easy and can happen anywhere and anytime on your favourite devices.

In this example we will see what the potential of our cash balance is in 5 years and how our goals are tracking, in just 3 easy steps on an iPhone.

#1

To get started, select your forecast length, in this case 5 Years.

Then select your forecast type, Single or if you would like to perform some 'what if' comparisons you could select Compare. In this case we will select a Single forecast type. For the scenario we will select New Job. This will use all of our Base Income and Expense items as well as any Income and Expenses for our potential new job!

So we will be running a 5 Year, Single, New Job Forecast...

#2

See the results at a glance.

Here we can see the opening balance and the forecasted balance in 5 years time. We can also see the amount our cash balances could increase by if we were to get that new job!

To make things clear throughout, different scenarios are highlighted in different colours, in this case purple is being used for the New Job.

#3

A great way to explore your forecast is with the Forecast Chart. Visually see your income climb or see those times where expenses dominate. Any goals you are tracking appear in the chart showing when they are forecasted to occur, giving you a nice reminder of when these goals could be achieved.

A tip for small screen devices like your phone, try pinching and zooming in on the chart to see more detail.

Finally, remember there are many more ways to visualise your forecast. So why not get forecasting today!


Using The Money Forecaster Heatmap To Find Potential Problem Financial Periods.
10-March-2017

From time to time there might be particular months that have more expenses than others, affecting your cash balance. They might come up from nowhere and surprise you, but these particular months don't need to be a surprise. You can forecast and find those future problem financial periods using the Heatmap and identify those expenses that are out of the normal trend.

The Heatmap provides a quick way to identify these periods. The higher the Expense is as a Percentage of Income, the darker the colour becomes. Giving you an easy way to analyse the forecast.

In this example, highlighted in red are some large Quarterly expenses that are ranging from 65% to 125% of income. They show in a darker colour as they are higher than other months.

By Nov 2020 (highlighted in Green) we see that the Quarterly expenses have ended and the Expense as a Percentage of Income reduces down to 35% for the month of November.

The Heatmap is a useful tool for juggling when expenses should be paid. Maybe you might decide to move to monthly payments instead of quarterly? Or make adjustments to other expenses during this time?

The Heatmap can be viewed in five different modes to suit your needs:

  • Expenses as a Percentage of Income (shown here)
  • Income
  • Expenses
  • Balance
  • Balance Percentage Change

Why not give it a go today.


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