An option to toggle between monthly and bi-weekly budgeting
I appreciate that for many, the way you have set up bi-weekly budgeting for bi-weekly paychecks makes great sense. For us, in a different season of life, it’s a huge challenge.
Even though we are paid bi-weekly, we are most comfortable (an experienced) with monthly budgeting as we already have a bank account buffer, and we are variable income earners (we budget for the lowest pays, and use the more flush months to pad savings and emergency funds). We have come to find your app to become more mindful spenders, and not due to a struggle with bill payments or debt management.
Would it be possible to have a toggle option, where we can choose to reflect the budgeted income monthly, while still accurately tracking the deposit transactions on their true dates?
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Comments6
rhinestonecowgirl
May 13
I like this idea too, especially things like my mortgage and retirement savings come out biweekly with my employment income - it would be great to have bi weekly options for expenses too :)
team@waypointbudget
May 13
Hi Kristin,
Thank you for taking the time to write this up, it's really helpful context :).
Before we look at changes, could you tell us a bit more about what currently feels "bi-weekly" in the app for you? For example, is it how income is displayed on the dashboard, the budget totals shifting month-to-month, the way pay dates are anchored, or something else?
Just want to make sure we understand exactly where the friction sits before we change anything.
Kristin Gyuran
May 13
It's the income piece. We have a variable income but there is a baseline minimum paycheck every 2 weeks like many folk. This month, it shows I have more to spend, and next month, it shows less, which just isn't true. When push comes to shove each month should be the same. Most of our bills are monthly, so I find it simpler to assume how much we have to spend is monthly. I imagine for others, the way it's set up is enormously helpful, so they can stay on top if when bills come out, and money comes in. Just not me.
I'd like to know how much is truly expected to be coming in for the month and to not have to change my budgeted spending if there happens to be an extra pay period.
A wee little box that you could check that ‘allows biweekly income to reflect as a regular monthly amount’ would be perfect.
team@waypointbudget
May 13
Thanks Kristin, that's super helpful context, and the good news is the app already supports what you're describing, just not in a way that's obvious from the income setup. Two ways to do it:
Easiest: Edit each bi-weekly income stream, change its frequency to "Monthly", then enter the smoothed monthly equivalent (bi-weekly amount x 26 / 12).
Example: a $3,500 bi-weekly stream becomes $7,583.33 monthly. Your budgeted income will then be the same every month, no 3-paycheque inflation, and your real deposits still appear on their actual dates in transactions.
Alternative: Change the frequency to "Semi-monthly" instead, with the per-paycheque amount = (bi-weekly x 26 / 12) / 2. Same result, but keeps a "twice a month" rhythm if that mental model fits better.
I know what you asked for is a little change but it it adds complications to the Bi-weekly form that the average user won’t have that’s why we are going to keep an eye on this in case it's worth surfacing more directly down the line, but for now those workarounds should give you what you want without any changes from us.
Let me know what you think!
Kristin Gyuran
May 13
Thanks for looking at it and for the suggestions, ill give those work arounds a whirl. I understand that changing features and adding suggested things are not always going to work best. I appreciate this space to have dialogue on these things!
team@waypointbudget
May 13
Anytime, I wouldn’t have it any other way! :)