Adding income sources

Your income is the starting point of every spending plan. This guide shows you how to add it, even if your income is not the same every month.

Add each source separately

It helps to add each source of income as its own entry rather than lumping everything into one number. That might include:

• Your salary or wages
• Self-employment or freelance income
• Benefits or tax credits
• Pensions
• Any side income, such as a lodger or a second job

Keeping them separate makes your plan easier to read and easier to adjust when one source changes.

Fixed income

If you are paid the same amount each month, simply enter that figure. SpendSquirrel treats it as money available to plan with.

Irregular or variable income

If your income moves around, you have two simple options:

• Use an average. Add up a few recent months and divide to get a typical figure. This gives you a sensible baseline to plan against.
• Enter it as it arrives. Many self-employed people prefer to add income when it lands, then adjust their spending categories to match.

Neither is wrong. Choose whichever feels calmer for you.

Updating income during the month

Life changes, and so can your income. You can edit any income source at any time, and SpendSquirrel updates the money available to plan straight away.