Cash plan

Intro

The information about your household finances that you maintain in You Need A Cash Plan is organized as a cash plan. You can think of a cash plan as a file folder in which you have all of the tools you need to manage the income that is deposited into the cash plan's checking account.

Cash plan

The first time You Need A Cash Plan is started, the Primary cash plan is created. You can rename the Primary plan, but you cannot delete it.

There is no limit to the number of cash plans that you can add. You can manage more than one checking account in You Need A Cash Plan by adding a cash plan for each checking account.

The reasons for adding a cash plan could include:

  • managing different incomes
  • cloning a cash plan so you can safely play "What If?" with any part of your plan
  • teaching a child how to manage household finances

After paying bills the first time in a new cash plan, you use You Need A Cash Plan to keep your plan spreadsheet up to date with the day-to-day changes that happen with your everyday money as well as do periodic, routine tasks that include:

  • getting your weekly allowance
  • recording deposits
  • entering credit card activity
  • adjusting the next payment amount for bills with varying payment amounts
  • paying bills twice each month
  • reconciling credit card statements
  • balancing monthly checking account statements
  • adjusting your cashflow to keep your net cashflow positive

Each cash plan that you maintain in You Need A Cash Plan is kept separate from all other cash plans. You can switch between cash plans at any time.