What is the idea behind excluding expenses and why is it useful?
The idea behind excluding expenses from the daily metrics is to give you the option to select which expenses you wish to include in tracking your daily spending patterns. During your trip, you will come across special expenses which would distort your daily spending patterns, such as flight tickets, vaccination costs, scuba diving course, etc… These expenses are usually quite high, and would dramatically increase your average daily spending, which is mathematically correct, but doesn’t give you a true image of your day-to-day spending. For this, we have created an option to exclude an expense from the daily metrics. However, the excluded expenses remain included in your total budget.
How to exclude an expense from the daily metrics?
To exclude an expense from the daily metrics, you simply tap on the ‘Advanced Options’ at the very bottom of the ‘Entry Screen’, and select the option ‘Exclude From Daily Metrics’.
Can I exclude future expenses too?
Yes, you can. Here it can get a bit tricky.
If we exclude something in the future, that part of your remaining budget is already ‘reserved’ for that specific expense - therefore, it is not considered as money that you can spend in the future and due to that, your target average will be reduced. A good example of this would be booking a flight for the future of your trip. You have already paid for that flight so it already affected your overall budget, even though the event itself hadn’t happened yet.
There are also times, when you may not want to exclude your future expenses from the daily metrics. In this case, the expense will affect your overall budget but not your target average because it ‘hadn’t happened yet’. It won’t be taken into account by the daily metrics until the day this expense actually ‘happens’. An example would be booking accommodation for the future of your trip. This is not a special expense, as it was in the case of the flight, and therefore you want it to be visible in your average daily spending. However, the money for the accommodation will be taken from your credit card on the day when the accommodation ‘happens’, therefore, your target average won’t be affected until the day that this event ‘happens’.
Our recommendation would be to always exclude your future expenses. By doing this, the target average is more accurate guidance, and you can plan the daily spending for you trip more easily.