Getting Comfy with Your Money

Chapter 4:
How Income Companion Works
Allowance Page

On the Allowance page you set up your allowance once and then get your allowance each week on the weekday you choose.

Failure to control spending usually leads to steadily growing debt. If you have debt, the first step toward paying off your debt is to start controlling your spending money by giving yourself a weekly allowance. With a weekly allowance, you are never more than six days from your next allowance and paydays become unimportant.

The Income page is where you maintain the incomes that will be deposited into the checking account associated with a budget space.

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You set up your weekly allowance as part of getting started with Income Companion. You can change your allowance at any time and probably will as you gain experience with using the program. Consistency, however, is essential for your allowance. When the money you get for your allowance every week is consistent, the impact of your spending on the remainder of your planning is consistent.

You set your weekly allowance by:

  1. Choosing the weekday when you will get your allowance.
  2. Setting the number of weeks (one week is strongly recommended).
  3. Choosing the pay bill dates on which the program is to set-aside your future allowance.
  4. Entering the amount of your allowance.
  5. Optionally changing the name “Allowance” to anything you like.

The calculated allowance schedule for when the program will set aside the money and when you will be getting your allowance is listed on the Allowance page. The set-aside schedule is added to your Incredibly Cool Budget on the Look Ahead page.

Each week on your chosen allowance day, you get your allowance on the Allowance page using the Get Allowance dialog box.

Click here to enlarge dialog box

You have complete flexibility for how to remove your allowance from your cash reservoir. Should you have money left over from the previous week, you have the option of leaving the leftover amount in your cash reservoir by:

  1. getting an allowance for the new week that is reduced by the amount that was left over from the week just ending, and
  2. moving the leftover amount to any available ledger.

2 Good Software

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