Using Formula Column for Family Budget

I am building a monthly board for our Family Budget Tracker and I am struggling in creating the Formula that will allow us to see if we are Within or Over the Budget in each Category.

I have already made a Formula that is working if I have only one item per category using columns “Estimated” and “Registered”, which is:

IF({€ Registered}=“0”,"-",IF({€ Estimated}<={€ Registered},“Within Budget”,“Over Budget”))

The thing is that I would like to SUM all items that are labelled equal in the Status column (example: all inserts that are labelled “Groceries” should have the REGISTERED column summed up, and if the total is below -700, the Formula column should show “Over Budget”, if the total is above or equal -700, the Formula column should show “Within Budget”.


In this picture you can see that the current formula is not summing all the inserts from label Groceries, but is only comparing in the line the estimated x registered.

Is it possible to use Formula Column to do that? I am not an expert in formulating, so any help will be highly appreciated.

Hi @giulliasacco welcome to the community. formulas in monday are only good across the same row/item, so there is not a good way to sum values from multiple different rows using formulas.

However, You could use a ‘chart’ view or a dashboard to show this information.

Just make a bar chart with x axis of type ‘status’ and use your ‘Category’ column
Then have the Y axis be both ‘Estimated’ and ‘Registered’

the size of the columns will determine if you are over or under budget for each given category.
here is a crude example

Hope that helps

Thanks for the answer!

In the end, I managed to find a different solution, which is using the MIRROR resource, to link 2 board.
In one board, I created a tracker, separated by categories, which I fill once a week.

In this board, I only include the date when the transaction was made and the amount, as you can see here:

In this board, on top I also include a Group of Elements with the Previous balance, so that in the end I can compare both SUMS (Tracker and Planner, and bank accounts) to see if I didnt forget to include anything.

In the other board, I am able to see the estimation (planning on expenses), and through the MIRROR & LINK I am able to count those amounts that are in different lines in the other board, which is linked in the 2021 | April Tracker column (mirrored) and summed in the Amount column. After that, in order to sum these values, I created a formula column using as reference the Amount column.

After that, I use this Registered (formula column) and the Estimated (number column) as reference for creating the formula column that will show me if I am within or over the budget.

I am not sure if my explanation is clear. But in the end, I am glad with the result of my boards :slight_smile:

@giulliasacco git it, I like the way that turned out, pretty clean and makes a lot of sense, I was thinking about doing the transactions board. And like the way you have linked them to your main planner board. Fun use-case

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