The Cash Forecast report provides a view into your expected cash balances over the next 30 days. This can be a powerful way to plan ahead and ensure you have enough money to pay your bills. It can also help you see how your cash is trending over time.
Report Breakdown
The Cash Forecast report include several key numbers as well as a graph to forecast cash balances for the next 30 days. The numbers at the top of the graph are:
- Starting Cash: This is your total checking and savings balances minus any credit debt (including pending charges). This is the same number as the “Net Cash” on the Cash History report.
- 30-day low: This is the lowest point your cash balance will get in the next 30 days.
- 30-day high: This is the highest point your cash balance will get in the next 30 days.
The graph is interactive tap a day to see the transactions expected for the day. There are three types of potential transactions.
- Daily Safe-to-Spend: Depending on the day you select this amount will be one of two things.
- If the day is within the current week, Weekly is forecast your spending to be the remaining Safe-to-Spend divided by the number of days left in your week. If you Safe-to-Spend is negative it will forecast no additional spending this week.
- If the day is after your current week ends, it will forecast your spending by dividing your Weekly Spending Limit by seven (days in a week).
- Daily Fund Spending: If you have any fund contributions, Weekly will include those in your forecasted spending. The amount is simply your weekly contributions divided by seven.
- Recurring Income & Bills: Your income and bills will be listed in the graph based on their next transaction date. It’s important that you have a next transaction date set for each recurring item otherwise it will not show on this report. Weekly will warn you if this is the case and provide a simple way to update all items with a missing next transaction date.
Cash Flow Compared to Averages
Managing your cash flow is also important because your Weekly Spending Limit is not related to your checking account balance. Your Weekly Spending Limit is based on your average income minus your savings and bills. This means you could have a Safe-to-Spend amount that’s greater than your cash in the bank. If this happens Weekly will warn you about it so you can adjust your budget.
