The Budgets service was created to automate the tedious and time-consuming math and validation tasks in the budgeting process.
Simply provide us with some basic demographic information and any fixed expenses you have available, and we'll fill in the items that aren't.
curl --request POST \
--url https://api.spendid.io/v1.0/budgets/generate \
--header 'accept: application/json' \
--header 'content-type: application/json' \
--header 'x-api-key: your_api_key'
Add demographic profile to request
Budgets requires some demographic information -- let's add that now.
curl --request POST \
--url https://api.spendid.io/v1.0/budgets/generate \
--header 'accept: application/json' \
--header 'content-type: application/json' \
--header 'x-api-key: your_api_key' \
--data '{
"demographics": {
"age": 25,
"gross_annual_income": 50000,
"household_members": 1,
"is_homeowner": false,
"net_annual_income": 41004,
"zip": "35210"
}
}'
For more information on demographic models, check out the demographic model reference.
{
"budget": {
"food_home": 3625,
"food_out": 2610,
"alcoholic_beverages": 505,
"mortgage_and_rent": 6553,
"home_maintenance_and_repairs": 1044,
"other_lodging": 520,
"natural_gas": 350,
"electricity": 1319,
"heating_fuels_other": 91,
"residential_phone_service": 182,
"cellular_phone_service": 1061,
"water_and_public_services": 504,
"household_operations": 904,
"housekeeping_supplies": 504,
"furniture_and_appliances": 1634,
"clothing_items_and_services": 1342,
"vehicle_purchase_and_lease": 3865,
"gasoline": 1843,
"vehicle_maintenance_and_repairs": 748,
"vehicle_insurance": 1002,
"public_and_other_transportation": 533,
"health_insurance": 2810,
"medical_services": 755,
"prescription_drugs": 443,
"medical_supplies": 160,
"fees_and_admissions": 393,
"media_hardware_and_services": 920,
"pets": 533,
"toys_and_hobbies": 165,
"personal_care": 606,
"reading": 84,
"education": 686,
"tobacco_and_smoking": 333,
"miscellaneous": 893,
"cash_contributions": 1228,
"life_and_personal_insurance": 257,
"savings": 0,
"other_debt_payments": 0
}
}
SPENDiD Budgets returns an annual budget calculated for your net_annual_income and demographics.
Some notes on baseline responses:
- Budget amounts are rounded to the nearest $1
- Budget amounts are annual.
- SPENDiD budgets never lose money by default. We assume a fixed value of $0 annual savings if the request doesn't provide an explicit value.
- SPENDiD assumes $0 debt service payments if none are explicitly provided.
Why annual values?
Although many apps focus on monthly or biweekly income and billing cycles, there is significant variance between consumers and households.
SPENDiD inputs and outputs are always expressed annually to keep integrations simple while maximizing flexibility for downstream developers.
Convert values however you wish in your application.
- val * (1/12) = monthly
- val * (1/24) = semi-monthly
- val * (1/26) = biweekly
- val * (1/52) = weekly
- val * (1/365) = daily
Add some expense constraints
To add fixed expenses to a request, just populate a budget object with what you know -- Budgets will fill out the rest.
For example, we'll use
- $800 / month rent payment (800 * 12 = 9600)
- $250 / month vehicle lease (300 * 12 = 3000)
- $200 / month savings goal (200 * 12 = 2400)
- No ongoing education expenses
- No smoking
- No prescription drug costs
- Employer provided health insurance - already factored in net_annual_income
{
"demographics": {
"age": 25,
"gross_annual_income": 50000,
"household_members": 1,
"is_homeowner": false,
"net_annual_income": 41004,
"zip": "35210"
},
"budget": {
"mortgage_and_rent": 9600,
"vehicle_purchase_and_lease": 3000,
"savings": 2400,
"tobacco_and_smoking": 0,
"education": 0,
"health_insurance": 0,
"prescription_drugs": 0
}
}
The Budgets service returns a complete budget for net_annual_income that respects the explicit expenses of the request based on the underlying demographics behavioral model.
{
"budget": {
"food_home": 3582,
"food_out": 2579,
"alcoholic_beverages": 499,
"mortgage_and_rent": 9600,
"home_maintenance_and_repairs": 1032,
"other_lodging": 514,
"natural_gas": 346,
"electricity": 1304,
"heating_fuels_other": 90,
"residential_phone_service": 180,
"cellular_phone_service": 1049,
"water_and_public_services": 498,
"household_operations": 894,
"housekeeping_supplies": 498,
"furniture_and_appliances": 1614,
"clothing_items_and_services": 1326,
"vehicle_purchase_and_lease": 3000,
"gasoline": 1822,
"vehicle_maintenance_and_repairs": 739,
"vehicle_insurance": 991,
"public_and_other_transportation": 526,
"health_insurance": 0,
"medical_services": 746,
"prescription_drugs": 0,
"medical_supplies": 158,
"fees_and_admissions": 389,
"media_hardware_and_services": 910,
"pets": 526,
"toys_and_hobbies": 163,
"personal_care": 598,
"reading": 83,
"education": 0,
"tobacco_and_smoking": 0,
"miscellaneous": 883,
"cash_contributions": 1213,
"life_and_personal_insurance": 254,
"savings": 2400,
"other_debt_payments": 0
}
}
Spendid Budgets responses always return the core budget object. Developers are free to incorporate this object "as-is" or transform the output to fit your system.
Updated 10 months ago