When you open the “Plan” screen, you will see the current month’s plan. You can start editing this right away.
Planning Your Income
First, you’ll want to plan your income. Use your monthly take home (net) pay as your income amount. You can add additional envelopes in order to plan for multiple sources of income.
This sum of the incomes you plan will display above “Plan Income” at the top of the plan screen. This is the amount of money you will have available to fund your plan expenses with.
As you get paid and categorize those transactions as income, you will see that money display in the “Earned” column. This helps you ensure that your earnings are on track with what you planned.
If you earn a little more or a little less than you had planned, simply make an adjustment to your planned income amount. Doing so helps you proactively adjust how much money you actually have to fund your envelopes with.
To plan your income, follow these steps:
- Select the number under the “Plan” column and enter the dollar amount you plan to earn.
- Choose the date you plan to earn the income.
- Select the recurrence period of how frequently you plan to earn that amount of income.
Planning Your Expenses
Once you have estimated your monthly income, you can begin to plan how you will fund your expense envelopes.
Your plan is simply giving you guidance on how you “want” to fund each envelope throughout the month. It does not automatically fund your envelopes unless you have FaithFi Pro and you use the auto-fund option. (See next section.)
To plan your expense funds, follow these steps:
- Select the number under the “Plan” column and enter the dollar amount you plan to spend.
- Choose the date you plan to fund the envelope.
- Select the recurrence period of how frequently you plan to fund that amount of money into the envelope.