How is my budget calculated?
To calculate your monthly payments, Long Energy estimates your typical yearly fuel gallons multiplied by this year’s projected price per gallon. Then Long Energy splits the total dollar amount into lower, even, monthly payments. If you had a credit from the previous year’s budget, we would use that amount to lower your monthly payments. Budgets are only estimates.
Budget Summary Explanation:
# of Payments: 8/10 – you made 8 out of 10 budget payments
Credit/Debit from Prior Budget: - $292.49 – This credit from last year’s budget would occur if you made more in payments than the cost of fuel delivered, and this amount is carried forward to be used in this year’s budget to lower the monthly payments.
Total Budget Payments to Date: $1,120.00. This is the total budget payments you have made for this budget year.
Total Budget Usage to Date: $1,782.20. This is the total cost of the fuel deliveries made to you.
Over/Under Budget: $369.71 over. At the end of the budget year, you will either be over or under your budget.
You will be over in your budget, and therefore you will owe Long Energy money, because your fuel deliveries cost more than the budget payments you made.
You will be under in your budget and show a credit because your deliveries cost less than your budget payments. Any credit you have will be rolled over into the following year’s budget – which will reduce your monthly budget payments.
Example
