Distributing income

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  • Updated 7 months ago
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I'm not clear on how I distribute income with this system. Considering switching from YNAB because they will not allow me to do what I want. If I purchase the Plus edition, can I easily in one click distribute my checks to my envelopes? I have two sources, one every two weeks, and another once a month. Can I set up a way to distribute each with a single click?
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Paul

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Posted 7 months ago

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Wayne Woodbury

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Hi, Paul.  It's a little more than a single click, but Goodbudget is quite flexible with that.  With Goodbudget, you populate your envelopes using a Fill.  You can save your fill settings as Custom Fills and reuse them later.  You can have a custom Fill for each check.  When you do your fill, you just choose the Custom Fill that you created from a drop-down list and it will populate the envelopes and amounts your have configured.  It will still allow you to tweak the values if needed before you commit the Fill.

You can also record your income and put all of your income in the Unallocated envelope and then do a single Fill from Unallocated once a month.  That is the way I prefer to do it as my income varies from month to month as do some of the amounts on specific envelopes.

One more feature with your Fills that might be useful is the Add vs Set functionality.  Next to each envelope in the Fill screen are two buttons: Add and Set.  Add allows you to add money to the existing balance of an envelope.  This is great for savings-style envelopes where you want to accumulate money over time.  Set allows you to "top off" an envelope each time you do a Fill.  This is good for those envelopes that you want to cap at a certain amount each month but do not need to carry a balance over.  Goodbudget will calculate the amount needed to top those envelopes off and will sweep any remaining funds into an envelope of your choosing.

Good luck, and post more questions if you have any.

Wayne
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Alex Park, Official Rep

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Hi Paul,

Wayne has already covered a great deal of how distributing your Income to Envelopes works in Goodbudget. I just wanted to add more generally that, in Goodbudget, you can make adding your Income and Filling your Envelopes as manual or as automatic as you like.

Some people prefer more exact control over how their Envelopes are Filled, and each month manually choose Fill options for their Envelopes so they can micromanage the amounts and ensure they know what money goes where. I do this personally, and it seems Wayne does as well.

However, if you prefer a less involved process or you have a very consistent pattern of how you like to budget and Fill your Envelopes, then you can schedule your Fills so that they automatically Fill your Envelopes on a given schedule -- that method requires 0 clicks, other than the initial clicks to set it up.

How you choose to add your Income and Fill your Envelopes is totally up to you, so you can pick what best works for you and your situation!
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Paul

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Thanks guys. I did figure out how to save an “income envelope fill” I guess you can call it. It is exactly the same each month, as is my other income source that is always the same amount bi-weekly. I prefer to just fill my envelopes the same way each time and just move money around as needed later.
I’d like to know if you can edit a saved fill like that. I may want to change it slightly. Can you do that without doing the whole thing again?
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Wayne Woodbury

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I haven't figured out a way to save changes to a Quick Fill, but you can select a Quick Fill and choose the option to Save Quick Fill as... and save it under a different name.  You can then go back and delete the older one.  If anyone knows of a better way, I would love to know about it.

I would love to see them add a check box to Save Changes to Quick Fill if you select a Quick Fill and make changes.
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Alex Park, Official Rep

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Hi Paul,

I've just responded to your email as well, but if you would like to edit a saved Quick Fill, the best way to do so is by following the process Wayne described in his reply above: load the original Quick Fill, make your changes, and then save it as a new Quick Fill.

But in the meantime, I've added both of your requests to be able to edit amounts for a saved Quick Fill to our features tracker for future consideration.
(Edited)