I just got the app today so I’m completely new to all of this. I have set up a monthly expense of $200 and I budget every two weeks. It’s telling me that I need to pay $92.31 every two weeks in order to make my monthly goal, but shouldn’t it be $100 to add up to $200 every month? Is there a settings of some sort to fix this or is this just a bug?
Goodbudget is basing your allocation on a full month, so you’ll end up with $200 per month if you put in $92.31 twenty-six times. You can easily switch to bi-weekly budgeting if that’s how you prefer to use your income, but monthly is going on 30-31 days. You can also change your allocation to $100 per fill if you choose, but remain on a monthly cycle.
Hope that helps!
Oh okay, thanks for the quick reply! I was also wondering what happens when I don’t fill each envelope after the two week period is up? Is that what the roll over feature is for?
Yep, exactly! If you give your Fills an “Add” instruction, then any remaining balance (positive or negative) will be included in the next fill. For example, if your Fill instruction is to “Add $20” but you still have $5 left, it will leave you with $25 in that envelope. If you’ve overspent by $5, you’ll only have $15 in the next period.
If you instead use the “Set” instruction, the first example would add $15 to make your starting point $20, and the second example would add $25 to also get you back to your $20 target.
Remember your budget needs both a target and a Fill instruction; not everyone can or does fill their envelopes right away so initially you may continue to add money to the envelope throughout your budget period as you get income.
Oh sweet, I understand now. I also just figured out that you can budget semi-monthly, and if you specify the 1st and the 15th of each month it divides monthly expenses evenly like I was asking about earlier. Just thought I’d post this in case others have the same question