Income

Your income

You typically won’t be spending much time with the incomes in your cash plan other than entering deposits. Other reasons for editing an income are different for predictable and unpredictable incomes. A common reason for working with any income is to play "What if?" with a contemplated change to the income. 

Change in pay - There are two ways to change the expected amount for a predictable income. Which you use depends on whether the change takes effect immediately or later.

  • For an immediate change, edit the income to change the net pay amount.
  • For a change that will happen later, add a future amount change to the income.

Job change

  1. Edit your current income to change how long the income will last to the date after when you will receive your last paycheck.
  2. Add your new income with your first pay period end date at your new job.

Permanent hourly schedule change

  1. Clone the income.
  2. Edit the original income to change how long the income will last to the date after when you will receive your last paycheck under the old schedule.
  3. Edit the cloned income to change the work schedule. Set the pay period end date to the end of your first pay period with the new schedule.
  4. After your last paycheck from the old schedule is deposited, remove the original income from your cash plan by editing the original income to uncheck the Include in Cash Plan checkbox.

Each time you find out that you will be receiving a paycheck from an unpredictable income, edit the income to add the date, description and amount of the expected paycheck. 

Playing "What If?" with your income is done when you are thinking about making a change such as:

  • changing jobs;
  • starting a side hustle;
  • a family event, such as having a child, which could involve maternity leave and/or a loss of an income.

The safest way to play "what if?" with your income is to:

  1. clone your cash plan;
  2. in the cloned cash plan, make your "what if?" changes;
  3. if you decide to go ahead with the changes, make the changes in your cash plan;
  4. delete the cloned cash plan.

Index

Adding

Editing

    Day-to-day activities

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