You can change your allowance at any time. When starting to take control of your day-to-day finances in You Need A Cash Plan, however, it is very important that you stabilize your allowance as soon as possible. A consistent amount being set aside to your Allowance ledger is a key element in managing your household finances. How much you devote to your allowance determines the amount of money available for your other expenses.
When a new cash plan is created, a default allowance is added. To set up your allowance, you edit the default in the Allowance dialog box which is opened by clicking on the Edit button in the Allowance slider.
If you consistently have allowance money left over each week, try reducing the amount of your allowance. The amount of the allowance decrease is added to your Net cashflow.
If you consistently run short of spending money each week, increasing the amount of your weekly allowance will work; however, increasing your allowance will take away from the money available for payments and set-asides as illustrated above. Before increasing the amount of your allowance, look at possible ways to reduce your spending. One way is to track your out-of-pocket spending for a couple of weeks by keeping a record of every penny you spend. This will highlight any spending habits, of which you may not even be aware, that you could change or stop altogether.
The key concern with your weekly allowance is that the weekly amount remains consistent. Changing your allowance often creates an unpredictable effect on your net cashflow which can make planning difficult.