Keeping track of a single, stable income can be hard enough. For those with more than one income, or an income that varies month to month, things can quickly get more complicated. You aren't certain how much money you really have to spend, or which paycheck to spend on which expenses. Thankfully, Goodbudget can help.
Working Towards a One Month Cushion
The ideal solution is to pool your income into a one month cushion for your budget. Then, use it to fund your Envelopes all at once at the beginning of the month. If that's not an option for you yet, use Goodbudget to help you tame your incomes and build up that one month cushion. Here's how you can do it in 3 simple steps.
Step 1. Make sure your budget makes sense
For many, building up a one month cushion is simply an issue of cash flow. For others a more serious change is needed. Check out our guide on creating a budget based off your income make sure you're starting off on the right foot.
Step 2. Add your income
When you receive income, click the orange Add Transaction button at the top left of the page, then select the "Income" tab and record your income. The income you enter will stay Unallocated until you assign it to an Envelope. Your Unallocated Money is where we will be pooling your income and building up your one month cushion.
Step 3. Fill your Envelopes
At the start of your next budget period, click on the orange Fill Envelopes button at the top left of the page. There you can use the income you've stored to fill your Envelopes. You can see how much you have left on the bottom right of the screen. Leave what you can, and prioritize Envelopes that you need to fill before your next paycheck.
If you need to fill your Envelopes again before the start of the next budget period, go back and edit the fill you already made. You can do this by clicking on the fill in your transaction history. By editing the existing fill, you'll be able to see how much you've already added to your Envelopes, and their current balance. If possible, avoid adding more than the regular budget amount to an Envelope.
When the next budgeting period starts, create a new fill to fund your Envelopes. As time goes on, your Unallocated Money balance should increase. Soon, you'll have your one month cushion and be able to fill all your Envelopes at the beginning of the month.
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