Method and medium for budgeting
AssigneeMax Jaffe
InventorMax Jaffe
Life of this patent
Estimating the term…
Abstract
A method and system for budgeting is provided that includes determining a funds total from at least an income amount. The method further provides for budgeting, comprising creating a worksheet including an arrangement of a funds total, an expenditure, a maximizable cost, and a cumulative cost; determining the funds total from at least an income amount; identifying the expenditure representing an amount owed; classifying the expenditure as one of a category of a plurality of categories; computing the maximizable cost associated with the expenditure; generating the cumulative cost associated with the category of the plurality of categories; updating the worksheet; and updating the income amount.
Claims25
A method for maintaining an account over a plurality of periods using a reverse budget implemented on a computer, wherein the account includes an available account balance derived from one or more revenue sources and a plurality of expenditures, comprising:
- adding an income amount from the one or more revenue sources to the available account balance;
- grouping each of the plurality of expenditures into one of a plurality of categories, wherein each of the plurality of expenditures is grouped into one of the plurality of categories based on a type of expenditure;
- specifying a budget amount for each of the plurality of categories, wherein the budget amount represents an amount that a sum of the plurality of expenditures in the respective category should not exceed during any one of the plurality of periods;
- calculating a remaining balance for each of the plurality of categories, wherein each remaining balance is calculated by adding the budget amount in the respective category at the beginning of each of the plurality of periods and then subtracting a sum of the plurality of expenditures grouped into the respective category during the respective period;
- calculating a cost associated with each of the plurality of expenditures, wherein the cost represents a total number of hours a user must spend working at a pay rate to pay for the respective expenditure during the respective period;
- outputting the available account balance, the cost and the remaining balance for at least one of the plurality of categories to the user;
- and
- revising at least one selected from the group consisting of the budget amount of at least one of the plurality of categories and one or more of the plurality of expenditures of at least one of the plurality of categories based on the available account balance, the cost, and the remaining balance for at least one of the plurality of categories.
A computer executable program embodied on a computer readable medium for maintaining an account over a plurality of periods using a reverse budget, wherein the account includes an available account balance derived from one or more revenue sources and the plurality of expenditures, comprising:
- a first computer code for adding an income amount from the one or more revenue sources to the available account balance;
- a second computer code for grouping each of the plurality of expenditures into one of a plurality of categories, wherein each expenditure is grouped into one of the plurality of categories based on a type of expenditure;
- a third computer code for specifying a budget amount for each of the plurality of categories, wherein the budget amount represents an amount that a sum of the plurality of expenditures in the respective category should not exceed during any one of the plurality of periods;
- a fourth computer code for calculating a remaining balance for each of the plurality of categories, wherein each remaining balance is calculated by adding the budget amount in the respective category at the beginning of each of the plurality of periods and then subtracting a sum of the plurality of expenditures grouped into the respective category during the respective period;
- a fifth computer code for calculating a cost associated with each of the plurality of expenditures, wherein the cost represents a total number of hours a user must spend working at a pay rate to pay for the respective expenditure;
- and
- a sixth computer code for outputting the available account balance, the cost and the remaining balance for at least one of the plurality of categories to the user;
- and
- a seventh computer code for revising at least one selected from the group consisting of the budget amount of at least one of the plurality of categories and one or more of the plurality of expenditures of at least one of the plurality of categories based on the available account balance, the cost, and the remaining balance for at least one of the plurality of categories.
A system for maintaining an account over a plurality of periods using a reverse budget, wherein the account includes an available account balance derived from one or more revenue sources and the plurality of expenditures, comprising:
- a processor;
- a memory unit coupled to the processor, the memory unit having a computer executable program thereon to:
- add an income amount from the one or more revenue sources to the available account balance;
- group each of the plurality of expenditures into one of a plurality of categories, wherein each of the plurality of expenditures is grouped into one of the plurality of categories based on a type of expenditure;
- specifying a budget amount for each of the plurality of categories, wherein the budget amount represents an amount that a sum of the plurality of expenditures in the respective category should not exceed during any one of the plurality of periods;
- calculate a remaining balance for each of the plurality of categories, wherein each remaining balance is calculated by adding the budget amount in the respective category at the beginning of each of the plurality of periods and then subtracting a sum of the plurality of expenditures grouped into the respective category during the respective period;
- calculate a cost associated with each of the plurality of expenditures, wherein the cost represents a total number of hours a user must spend working at a pay rate to pay for the respective expenditure during the respective period;
- output the available account balance, the cost and the remaining balance for at least one of the plurality of categories to the user;
- and
- revise at least one selected from the group consisting of the budget amount of at least one of the plurality of categories and one or more of the plurality of expenditures of at least one of the plurality of categories based on the available account balance, the cost and the remaining balance for at least one of the plurality of categories.
Dependencies are inferred from the claim text.