Daily budget calculator
How much can you spend per day until pay day? Here's the exact sum MoneyBook does every morning.
Short answer: (monthly income − fixed bills − savings − what you've spent since pay day) ÷ days until next pay day = your daily limit. Subtract what you've spent today to get what's safe to spend today.
MoneyBook does this sum every morning from your real spending, and puts it on your Home Screen.
Download MoneyBookHow the daily limit works
- Monthly budget = income − fixed bills − savings goal.
- Left this cycle = monthly budget − what you've spent since pay day (bills not included, so they're not counted twice).
- Daily limit = left this cycle ÷ days until pay day, counting today.
- Safe to spend today = daily limit − spent today.
Because it's worked out again every day, the limit corrects itself. A quiet day raises tomorrow's number; a big one lowers it a little for every day that's left, rather than wiping out the last week.
Following your account balances
A plan can say you have money that isn't actually in the bank yet. With balance following on, the limit is capped by what your everyday accounts held this morning, less bills still due before pay day. If those bills need more than you hold, the result shows Short before pay day and how much is missing. This is the same optional setting MoneyBook has under Income & pay day.
Want to see where your salary goes before working out a daily number? Try the salary planner, or read how to stop running out of money before payday.
Questions
How do I work out my daily spending limit?
Take your monthly income, subtract fixed bills and savings, then subtract what you've already spent since pay day. Divide what's left by the days until your next pay day, today included. That's your daily limit.
Why use pay day instead of the 1st of the month?
Because your money arrives on pay day. A cycle from pay day to pay day matches the money you actually have, so the last week before salary doesn't come as a surprise.
What if I overspend one day?
The amount over is spread across the days left, so each remaining day's limit is a little lower. Spend less than the limit and the next days' limits go up.
Get this number every morning.
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