Manual Offers Sumeria+ Fixed expenses tracking

Fixed expenses tracking

How fixed expenses work

Know the amount spent on fixed expenses is essentiel to improve budget management. The fixed expenses tracking tool has been designed to accompany Sumeria+ customers in this initiative.

With this tool, customers can:

  • Become aware of all their charges and the amount allocated to them;
  • Look up details of their charges and billing dates;
  • Obtain monthly and annual totals for all registered charges;
  • Link a dedicated budget account to their fixed charges.

This tool can be reached from the Sumeria+ center in-app, for all Sumeria+ customers.

Adding a fixed expense

From the Sumeria+ center, by default, the main view displays "Fixed Expenses to estimate". By tapping on "Begin", customers can add a fixed expense and enter its associated details.

Expense type

It can be filled in manually or chosen from a list of common expenses provided by the tool (rent, insurance, Netflix, etc.) or selected from transactions detected as recurring on your account;

Amount and frequency

Customers can enter the cost of the fixed expense and how often it will be debited, whether weekly, monthly or annually.

For subscriptions debited every 4 weeks, we recommend to break down the amount weekly and thus, chose a weekly frequency.
Example: For a gym subscription of €80 debited every 4 weeks, we recommend to add in the tool a weekly payment of €20.
To convert the weekly amounts into monthly amounts as accurately as possible, we perform the following calculation: Monthly amount = weekly amount x 4.33
(52 weeks / 12 months = 4.33 weeks per month)
Debited account

Customers specify whether the charge is debited from a Sumeria account or an external account.

Monthly tracking

Customers can set the day of the month on which the charge is debited. They can also activate a reminder to receive a notification the day before the charge is debited (or 2 months before for annual debits).

Managing fixed expenses

From the Fixed expenses tracking screen, customers can freely :

- Edit and update existing fixed expenses

- Delete fixed expenses

- Create new fixed expenses.

Customers can create a budget account dedicated to their fixed expenses by tapping on "Use a dedicated account" from the fixed expense tracking screen. It is recommended to add a few euros on top of the total costs calculated in order to cover potential cost increases from service providers.