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How to Set up a Fixed Envelope Payment Schedule
To set up a payment schedule for a fixed envelope from within the 'Add Envelope' screen:
- Choose 'fixed' as the envelope method.
- Enter the fixed expense amount.
- Click on 'Schedule' to customize your expense payment schedule:
- Recurrence Frequency: Opt for weekly or monthly and adjust the interval using the '+' or '-' buttons. Assign the schedule accordingly:
Make sure to schedule your fixed expenses based on their actual payment dates. For example, if an expense is due on the 5th but you typically pay it on the 4th, schedule it for the 4th. This ensures you receive timely reminders and accurate budget suggestions from the app.
Weekly: If your fixed expense is paid every other week, select 'weekly' and set it to every '2' weeks. Choose the day of the week the expense is paid.
Monthly: If your fixed expense is due every 6 months, choose 'monthly' and set it to every '6.' Then, select 'specific days' or 'week & day.' Specify:
- Specific days: Pay your expense on a fixed date each month.
- Week & Day: Pay your expense on a particular day of the week and interval (e.g., second Wednesday of every month).
- Pick your 'next occurrence' date. If you don't see this option, you might have selected the wrong schedule type. The system will display your next occurrence date(s) based on your input.
- Save your changes