Scarlett Posted October 31, 2021 Posted October 31, 2021 Does anyone use this? I have used it a lot in the past and I always get hung up on this one thing…..I pay bills once a month on the first. And I use our paychecks from the previous month. How do I do that? It seems to ask for paychecks from the current month. Quote
Jean in Newcastle Posted October 31, 2021 Posted October 31, 2021 how similar are paychecks from one month to the next? Quote
Amethyst Posted October 31, 2021 Posted October 31, 2021 I use it. So, in your case I would estimate what the paychecks will be on the first if the month. As the paychecks come in, you can change it if needed. What specifically are you having trouble with? I probably use it differently than most people. I make most of my things “funds”. So, if my electric bill is lower one month, the extra that I have allotted to “electric” will carry over to the next month. That way there is always plenty in the fund during the months when there is a higher bill. I do this for most things, even groceries and gasoline. Quote
Scarlett Posted October 31, 2021 Author Posted October 31, 2021 34 minutes ago, Jean in Newcastle said: how similar are paychecks from one month to the next? Almost always exact. Quote
HomeAgain Posted October 31, 2021 Posted October 31, 2021 We use it. I use dh's low paycheck for our income number. That's what we budget off of, so no matter what it's the same from month to month. The overages are a buffer in the account. It doesn't matter when I say the check is deposited, whether we use last month's income or this month's, it's just the money that's being budgeted. Quote
Scarlett Posted October 31, 2021 Author Posted October 31, 2021 10 minutes ago, Amethyst said: I use it. So, in your case I would estimate what the paychecks will be on the first if the month. As the paychecks come in, you can change it if needed. What specifically are you having trouble with? I probably use it differently than most people. I make most of my things “funds”. So, if my electric bill is lower one month, the extra that I have allotted to “electric” will carry over to the next month. That way there is always plenty in the fund during the months when there is a higher bill. I do this for most things, even groceries and gasoline. Ok, so I think I have it figured out. So I will put our paychecks in and budget the amount I take out in anticipating of dec 1 bills. Then on dec 1 before I pay bills I will add that amount back into our income. I think that will work. Quote
Scarlett Posted October 31, 2021 Author Posted October 31, 2021 13 minutes ago, Scarlett said: Ok, so I think I have it figured out. So I will put our paychecks in and budget the amount I take out in anticipating of dec 1 bills. Then on dec 1 before I pay bills I will add that amount back into our income. I think that will work. I just have to figure out how to count wha it at used to pay bills…I am a little challenged at these type things. Quote
Amethyst Posted October 31, 2021 Posted October 31, 2021 50 minutes ago, Scarlett said: Ok, so I think I have it figured out. So I will put our paychecks in and budget the amount I take out in anticipating of dec 1 bills. Then on dec 1 before I pay bills I will add that amount back into our income. I think that will work. Well, I fill out the budget Nov 1. I put in the app the ESTIMATE of our paychecks. If you also want to pay your bills on Nov 1, that’s fine. You can use the app for Nov and say that you paid the electric bill. It doesn’t matter that you don’t actually have the paycheck yet, ( long as your bank has the money). Quote
Amethyst Posted October 31, 2021 Posted October 31, 2021 Ok, I see the problem. When you just estimate the paychecks, it looks line you don’t have a balanced budget. I guess I’ve been doing my own way for a while so that doesn’t matter to me. After the last paycheck of the month, if it’s still not balanced, I will make tweaks here and there. So, maybe I’m not the best advisor on the proper way to use the app. I’ll let someone else who uses this differently help you out, and I’ll take a step back Quote
Scarlett Posted October 31, 2021 Author Posted October 31, 2021 So what I did is enter our 4 paychecks for November income. Also for November income I entered the money I saved from October to pay Nov set bills with. Then I did my best guess/estimate for December bills and entered that as an expense for November. I will zero it out and transfer to December budget at the end of November. I had not looked at Everydollar for a while. They have changed some of the features that were once free to now paid. Quote
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