ARCHIVE - Timing - How to schedule a one-off lump sum expense **Voyant Adviser, UK and Ireland**

Q - How does one schedule a one-off expense for a large lump sum purchase, such as a wedding?


1. Go first to one of the Expenses screens.

The BasicsLeisureLuxury, and Milestone expense screens are all essentially the same. Voyant allows expenses to be entered separately on these four screens in order to categorise and prioritise them in the Let's See charts and in the Overviews and Reports . Basic expenses are withdrawn first annually, followed by leisure, luxury, and milestone expenses.


With this prioritisation in mind, categorise this future expense by entering it on whichever screen seems most fitting.

2. Enter the details of the expense in the fields provided including the name of the expense, amount, and whether the amount entered is to be paid monthly or annually. In the case of a lump sum expense, select Annual.


3. Expand the Inflation panel to set an inflation rate for the future one-off expense. The Inflation Rate % displayed initially is taken from Preferences.


- If the amount entered for the expense is a current value, select Present Value. To account for inflation, the Inflation Rate shown on the panel, will be applied to the expense amount until the expense is taken.

- If the amount entered is the actual amount intended for the future expense, select Future Value. The expense will not be inflated.

4. Next, schedule the timing of the expense using an event from the planning timeline. On the Time panel, located on the right side of the expense screen next to the ledger, select the Event tab.

5. The Event tab will show a list of events from the planning timeline. If one of these events coincides with the year of expense, which in this case is the year of a wedding, select it. A green dot will appear next the event noting it as the ‘start event' for the expense.



Tip: If an event does not exist on the timeline for the year of the expense one can easily be added by clicking the New Event button located on the bottom of the Time panel, Event tab.


The add event dialogue will display. Enter a Name for the event, the Age of the owner in the year it will occur, and select the name of the Owner.


Click Add. The new event will be added to the timeline and will now appear on the TimeEvents panel. 


Since this is a one-off expense, do not select a second event (an end event) . There should be no red bullet on the Events tab of the Time panel, only a green one.

6. Click Add or Update to save the one-off expense.

The line graph near the bottom of the screen will spike to illustrate the projection of this one-time expense, which is set to occur only in the year of the selected event.


You may now go to the Let's See charts to confirm that the one-off expense appears in the year scheduled. Locate the marker for the event in the chart timeline and click on the bar for that year in the chart. Select the Detailed Info link in the chart legend.


The one-off Wedding expense will be shown in the annual details under Expenses.