If you've set up the Paycheck Planning tool, a message may appear that says "Risk of Overspending: High." What does this mean and what can be done to adjust it? First, a bit of context.
The goal of Paycheck Planning is to help you stay in control of your money and avoid overspending throughout the month. After Paycheck Planning is set up (by entering the expected dates for your income to arrive and your expenses to be spent) for the month in paycheck planning, EveryDollar will let you know if your plan is on track, or if you need to make some adjustments.
If your Paycheck Planning sees that you’ll be short $20 a few days before your next paycheck, EveryDollar will show you the risk of overspending is high, so you can adjust your spending ahead of time.
On the other hand, if your budget includes healthy buffers and your expenses are well spaced, EveryDollar will let you know your risk of overspending is low, which is exactly where you want to be!
Paycheck Planning helps you stay proactive with your money and keep your budget on track throughout the month.