Glossary of Terms

A service where a company automatically deducts payment from your bank account or credit card on a set schedule. While convenient, you should still track these bills in BudgetPro to know when money will leave your account.

The amount of money you can actually use from your bank account right now. This may differ from your "current balance" if you have pending transactions. In BudgetPro, use your available balance for the most accurate budgeting.

Occurring every two weeks (every 14 days). This is the most common pay schedule for salaried employees. Results in 26 pay periods per year, which means twice a year you'll have a month with three paychecks. Learn more →

In BudgetPro, a bill is any known, scheduled expense—money that needs to leave your account. Examples include rent, utilities, subscriptions, and loan payments. Learn more →

A plan for how you'll use your money. In BudgetPro, your budget is organized around pay periods and shows how much you can safely spend while covering all your bills.

The balance in your account at the end of a specific day, after all that day's transactions. BudgetPro shows projected closing balances on the calendar.

The actual amount of money in your bank account right now. This is the starting point for all BudgetPro calculations. You set this in Settings.

Your Safe to Spend divided by the number of days remaining in your pay period. This tells you how much you can spend each day on discretionary items like groceries, gas, and entertainment. Learn more →

When your employer sends your paycheck directly to your bank account instead of giving you a physical check. Money typically appears in your account on your payday.

Spending that isn't fixed or required—things you have choice over. Examples include dining out, entertainment, shopping for non-essentials. In BudgetPro, this comes out of your Safe to Spend amount.

The date by which a bill must be paid to avoid late fees or penalties. In BudgetPro, the due date determines which pay period a bill appears in.

Money you anticipate receiving in the future, such as upcoming paychecks. In BudgetPro, expected income is factored into your Safe to Spend calculation. Learn more →

A bill that stays the same amount each time, like rent, a car payment, or a subscription. These are easy to plan for because the amount is predictable.

How often something occurs. In BudgetPro, you set the frequency of recurring bills and income (weekly, bi-weekly, monthly, etc.). This determines how the next date is calculated when you mark something as paid/received.

Your total earnings before any deductions (taxes, insurance, retirement). This is NOT what you should enter in BudgetPro—use your net pay (take-home pay) instead.

In BudgetPro, the interval is how often your pay period occurs. Options include weekly, bi-weekly, semi-monthly, monthly, quarterly, yearly, or custom.

A BudgetPro setting that checks future pay periods for potential shortfalls. If a future period has more bills than income, money is reserved from your current Safe to Spend. Learn more →

A safety cushion you define in BudgetPro—an amount you always want to keep in your account. This money is excluded from your Safe to Spend calculation to protect against unexpected expenses. Learn more →

Occurring once per month, typically on the same date each month. Monthly bills are common (rent, subscriptions), and some people are paid monthly.

Your earnings after all deductions (taxes, insurance, retirement). This is the amount actually deposited into your bank account, and what you should enter in BudgetPro for income.

A bill or income that occurs only once and doesn't repeat. Examples include tax refunds, one-time purchases, or a bonus. When marked as paid/received, no future date is scheduled.

When you spend more money than you have in your account, resulting in a negative balance. Banks typically charge overdraft fees. BudgetPro's Safe to Spend calculation helps you avoid this situation.

The recurring length of time between paychecks. BudgetPro organizes your budget around pay periods instead of calendar months because that's how your money actually flows. Learn more →

The day you receive your paycheck. In BudgetPro, this typically marks the beginning of a new pay period.

In BudgetPro, a status indicating that a bill hasn't been paid yet or income hasn't been received yet. Pending items are included in Safe to Spend calculations.

An estimate of what your balance will be in the future based on current information. BudgetPro projects daily balances by applying known bills and expected income to your current balance.

Occurring every three months (four times per year). Some insurance premiums, estimated taxes, and dividend payments are quarterly.

A bill or income that happens on a regular, predictable schedule. When you mark a recurring item as paid/received, BudgetPro automatically sets the next due date based on the frequency. Learn more →

The core BudgetPro concept—the amount of money you can freely spend without affecting your ability to pay bills or maintain your safety cushion. Calculated as: Current Balance − Pending Bills + Expected Income − Minimum Reserve − Future Period Reserve. Learn more →

In BudgetPro, how a bill or income is categorized for timing purposes: One-Time (happens once), Recurring (repeats on a schedule), or Varied (repeats but with unpredictable timing).

Paid twice per month on specific dates (like the 1st and 15th). This results in 24 paychecks per year. Different from bi-weekly, which is every 14 days regardless of the date. Learn more →

In BudgetPro Settings, the anchor date used to calculate all pay periods. Set this to a recent payday, and BudgetPro will calculate all past and future periods from this point. Learn more →

In BudgetPro, whether a bill or income is Pending (not yet paid/received) or Paid/Received (completed). Toggling status affects your Safe to Spend calculation and, for recurring items, advances the date.

See Net Pay.

A bill that changes in amount each time, like a utility bill or credit card payment. In BudgetPro, update the amount when you receive the actual bill.

In BudgetPro, a schedule type for bills or income that recur but with unpredictable timing. When marked as paid/received, you manually enter the next expected date. Useful for things like freelance payments or utility bills that arrive at different times.

Occurring every week (every 7 days). Some people are paid weekly, and certain bills (like some subscriptions or services) may be weekly.

Occurring once per year. Examples include annual subscriptions, membership fees, property taxes, and vehicle registration. Don't forget to track these in BudgetPro so you're not surprised when they come due!