FAQ: How Do I Get Rid of Missing Expenses in the Cash Flow Section

The cash flow diagram provides an essential overview of your financial situation, but sometimes you might encounter an issue where the platform flags "Missing Expenses." Below is a step-by-step guide to help you identify and resolve this issue effectively.

Step 1: Understand the "Missing Expenses" Notification

The "Missing Expenses" alert occurs when:
Spending + Savings + Debt is greater than Net Income

Step 2: Verify Your Inputs

  1. Check Net Income
    • Navigate to the Income Section.
    • Ensure the numbers for net income are correct
    • Make sure to review payment frequency to see if a mistake has been made (A = Annual SA = Semi Annual Q = Quarterly M = Monthly SM = Semi Monthly BW = Bi-Weekly W = Weekly)
    • Net income should be in today’s dollars; the platform adjusts for inflation automatically.

  1. Check Spending, Debt and Savings

    • Navigate to the Expense Section.
    • Review spending to see if you've missed anything
    • Review debt payments to see if you've missed anything
    • Review saving amounts to see if you've missed anything
    • Make sure to review payment frequency to see if a mistake has been made

Step 3: Categorize Missing Expenses

If you've confirmed net income but are unsure of where missing expenses are coming from, you have highlighted an area of your cash flow that needs some clarity

  1. Decide whether to categorize as savings or spending

    • If you believe these funds are being spend, add them to misc. spending in this and future snapshots
    • If you believe these funds are being saved, add them to non-registered savings. The platform will determine the best account to save in automatically in the Projection Section.

  2. Track Expenses

    • Over the next 6 months we recommend you track your expenses to gain further clarity into these missing expenses and confirm your assumption on whether they are being saved or spen

Warning

Any Missing Expenses that are not categorized as either savings or spending will added as 'missing expenses' in your plan. You can see this missing expenses column in the Projections Section.

Additional Tips

  • Small Discrepancies: If the "Missing Expenses" amount is minor (e.g., under $100), it’s generally not a concern and will not affect the trajectory of your plan in a major way