In order to find your Weekly Spending Limit you need to define your regular income. Income is considered “regular” if you receive it at a set interval (like every two weeks or twice a month). Even if the amount you’re paid fluctuates, you can track income as a recurring budget item and Weekly will prompt you to update the budget amount each time you’re paid.
You can add your regular income when are first setting up Weekly during the onboarding process or afterwards when you add a new budget item.
Setting the next transaction date (date of your next paycheck) is important to allow Weekly to project your future cash flow. Weekly updates this date each time a recurring transaction is confirmed based on the interval of the item.
If your income isn’t regular you may benefit from reading the article “How do I handle variable income in Weekly?“.
What if I don’t currently have income?
You can still create a meaningful budget even if you don’t currently have any income. In this case Weekly will assume you’re living off your savings. To track this, create a recurring income item called “Spending from Savings”. Set the amount high enough to cover your bills and leave enough money left to make your Weekly Spending Limit a reasonable amount.
For this item you would not set a next transaction date. This will prevent the income item from showing up in your Cash Forecast report. This forecast report can provide valuable information about the rate at which your cash in the bank will reduce.