What if a recurring expense changes?

Most recurring transactions are always for the same amount, but some things like utility bills may fluctuate.

When your recurring transaction amount changes Weekly will prompt you to update the amount of the recurring item. If you update the amount then Weekly will immediately recalculate your weekly spending limit based on the new amount. Your Safe-to-Spend for the current week will also get updated.

For example, if your monthly power bill increased by $30 then Weekly would calculate the weekly average by dividing $30 by 4.34524 (the number of weeks in a month) to get $6.90. Weekly would then decrease your weekly spending limit by $6.90 so that you have money set aside for this bill.

There are other ways to handle recurring expenses that fluctuate. One options is to set your expense amount to be the highest amount that you would ever pay and keep it there. Then most months your bill will be lower than what you’ve budgeted for so you’ll have some extra cash in your checking account.

Another option is to sign up for a flat-rate plan which many utility companies provide. This gives you a consistent rate throughout the year.

Note: since Weekly uses averages it’s helpful to have some extra cash in your checking account to make sure you can cover all your bills as things fluctuate.