#42 Benefits of a Spending Plan



  • Organize in one place (Spending Plan software) all your bills (amount, frequency, next time due, acct#).
  • Have a spending plan for each bank account.
  • Enter expenses once, no more creating a new budget each year. 
  • No more “this bill comes from HIS wage and then bills comes from HER wage”.
  • All income is deposited in BILLS account to cover all bills 1st, then excess funds are transferred to other spending or saving accounts.
  • Timing leverage of incomes and expenses.
  • See your spending plan always 12 months in advance. Up to 10 years.
  • No more keeping due dates of bills in your head.  Enter expense once and just adjust, when needed.
  • Know all your bills in the next 12 months will be covered.
  • Know the ‘right’ (exact) starting balance required for your bills account.
  • Automate all your bills because you will know they will be covered.  No more late fees.
  • Pay your bills only when they are due.  No more installments, as they cost you more anyway.
  • Pay your annual bills annually and quarterly bills quarterly.  Keep your money in your bank account longer.
  • Know early (months in advance) if you will be short in the Bill account to pay a bill
  • Make a plan to re-adjust plan to ensure future bills are paid.
  • Decrease your interest on your mortgage by putting your Bills/Savings accounts into an offset account.
  • Virtually test your future spending in your plan 1st, instead of real money.
  • “Dear Spending Plan, can I afford this large purchase?” VS spending actual money and then wondering how you will pay for it.
  • After entering expenses and income, see how much money remaining you have to “give a job”.
  • Give every dollar a job so it doesn’t leak from your wallet.  Have a plan for every dollar.
  • Gone are the days of spending money you didn’t realise you had.  Plan to spend it on your really wants.
  • Know every day of the year what your bank balance should be to cover expenses.
  • Know if you have too much money in your bill account. Transfer extra to another job or spend.
  • Quick weekly money management – compare spending plan account balance to your actual account balance in as little as 10 minutes a week.
  • Be accountable in software if you stayed to your plan the past week, etc.  Adjust if necessary.
  • No more tracking your spending that is in the past (it’s gone).  We forward plan your future spending.
  • Too much in the Spending Plan account?  Then you have choices what you will do with that extra money.
  • Know the dates you will have your debts paid off.
  • Know the date your savings goal will be achieved and how much a week you need to save.
  • The ability to see your spending plan up to 10 years ahead.
  • Easily see how much you have planned to spend on different categories.
  • Print a calendar that shows what income and expenses will occur on that day in your plan.  Time to spend!
  • Know every day what your Spending plan target plan balance should be – the right place (number).  The missing # a bank statement does not show you.
  • Be reminded of your spouses birthday or your anniversary etc because your plan will tell you there is money available for a gift.
  • Know your weekly grocery bill.  Create and keep spending boundaries for your food and spend in other areas.
  • Spend your money on your “really” wants.
  • Have peace of mind when it comes to your money.  No more stressing!
  • Know your current financial health.  Get your head-out-of-the-sand.
  • Lose the desire to spend money you do not have. Knowledge–>
  • Financial Literacy (knowledge) brings power and making better choices!
  • Having a Spending Planner motivate, teach, support and vital accountability to reach the goals you will set. 
  • Accountability to your Spending Planner is the glue that connects commitment to results.