Can someone help with finding a budgeting tool for a complex paycheck situation?

I don't know if this system or software can help, or if somebody has another suggestion, but I'm trying to find a solution for budgeting for my mother. She's talked to her bank and a couple other financial experts and they haven't been able to suggest anything for her to use software-wise or otherwise for her complicated income situation. She gets money from I think three different sources: retirement pension, social security, and one other thing I think. But not only do they come on different days of the month, but the dates are different also every month. There is a pattern to it but it's complicated and she has tried different types of budgeting software and none of them allow for this kind of complex income situation to be entered into the system so that it can work properly for her. Is there anyone that can help with this? Can this system help her?

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  • What software doesn’t allow her to enter income as it is received?

    If she needs some kind of custom interval, that’s not feasible but it shouldn’t be necessary, either. 

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  • The thing about YNAB is you budget only money you have, and you budget it every time you get paid. I’ve been paid twice a week and not always on the same days from 2 jobs, and then sometimes there’s a third (irregular) income. Frequency and predictability of income are not important in using YNAB.

    Not budgeting money you don’t have is the most important thing in using YNAB.

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  • One possibility is to effectively eliminate the complicated income situation. This requires a one-time draw in an amount to cover her expenses incurred between her first check and the end of the month. This will allow her to simply queue up the checks as they arrive -- they are not needed in the current month due to the one-time draw -- and by the end of the month she'll have a month-sized effective "paycheck" ready to budget the entirety of the upcoming month in advance.

    The fact dates change isn't an issue as long as they arrive sometime during the month (or slide earlier as bi-weekly pay does).

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  • Yes, YNAB.

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  • Hi Greg !

    YNAB is more than capable of tackling your mother's income situation. My husband and I both have multiple sources of income and none of our pay dates align. 

    Rather than entering a "Monthly Income" into YNAB, you enter your current account balance and budget that. As your mother receives more income (regardless of what day she receives it), she'll enter it into her account and budget that, as well.

    When you have a moment, take a look at the Ultimate Get Started Guide and consider taking one of our free, 20-minute workshops

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