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”.

Example:


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 monday.com 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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