So, I’m personally terrible at my monthly budgeting - which generally means at the end of each month, for the final week before payday I’m down to beans on toast for most of my meals…
An idea I’d like, although not sure how many others might use it, would be the ability to ‘fix’ the amount you can spend during a fixed regular period of time (ie - each week).
So, basically, you take your salary, take out all the regular bills, then divide what’s left between 4 weeks. Then you set the card to only allow you to spend that. If you need a bit extra for a specific week, you go into the app and increase it for that week - and it then gives you an option to either reduce a specific week that amount or divide it equally between the remaining weeks.
Basically - so that when you get to the final week of the month - you’ve still got a healthy balance to cover it. All regular bills (standing orders, direct debits) are not included in this so they’ll always get paid even if you’ve overspent it one particular week.
So, it’ll work something like this:
Bob gets paid £2,000
Bob’s bills come to £1,200
So, he’s got £800 left - divided by 4 so £200 per week
It’s his wife’s birthday, but he’s forgotten (as usual), during the second week of the month. So, last minute present shopping for flowers and arranging a nice meal out means that he needs an extra £50 that week. So, he increases that weeks budget by £50 and then can choose to either split the £50 between the following two remaining weeks, or have it all come out of one week. As his wife is going away with her sister for a birthday treat the 3rd week of the month, Bob thinks he’ll be able to budget that week on £150 so chooses to take the full amount from the third week.
Does that make sense? And I suppose more importantly, would anyone else find it useful?