Budgeting based on account balance rather than income

CannyPig Budget Page Tablet

Many budgeting apps require you to enter a static income amount and budget based on the amount you entered. And while that’s a solid approach, it doesn’t factor in what your actual bank account balance is. If you overspent one month and forgot to update your budget or underspent and forgot to inform the budget app that you want to carry over that extra profit, your account balance could be lower or higher than you realize and requires a lot of work to adjust your budget.

Instead CannyPig keeps you aware of your account balance through every budget. You will see your current bank account balance at the top of the budget and that amount will decrease budget by budget after that budget’s remaining balance is subtracted from your bank account balance. At the end of your budgets you will be seeing your estimated bank account balance after all budgets & bills are subtracted. 

Trust your budget without the fear of a negative account balance

Another problem with many budget apps, is you can’t always trust that you are able to spend the budget you set if you receive more than one paycheck each month. Imagine you receive two paychecks and because you have a lot of bills and rent during the first half of the month you don’t have enough to buy those clothes you budgeted for until the second half of the month after your second paycheck. Most budget apps will just tell you that you have a remaining clothes budget of say $100 but won’t tell you if you’ll actually have the bank account balance to support it until your next paycheck.

CannyPig fixes this by giving you a “Lowest Future Balance” that lets you know that until more money arrives, this is the remaining balance of your bank account after necessary budgets and bills are subtracted. You will order your budget roughly in the order you expect to pay bills and receive income and CannyPig will show your balance each step of the way. The “Lowest Future Balance” will tell you how much you can spend until your next paycheck if you don’t already have a budget for such expenditure before your next paycheck. It also considers over budgeting for future months and considers that in a future month you might have a lower account balance than your current month. 

You want to check that either you don’t spend more than the Lowest Future Balance amount or that you still have enough remaining in the budget that’s ordered before your next paycheck.

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