Month-end forecast: know how this month ends while you can still change it
IncomeWise predicts what you will have spent and saved by the last day of the month. It learns from up to your last three months, separates rent and bills from day-to-day spending, and updates every time you record something. You see the result at the top of Analytics, early enough to act on it.
What you get
From your own months
Up to three of your recent months, weighted 50/30/20 towards the latest, so one unusual month can’t become the model for the next.
Rent isn’t treated like coffee
Recurring payments, bills, loan repayments and unusually large purchases are counted where they fall. Only day-to-day spending is projected by day, so paying rent on the 1st doesn’t set off a false alarm.
Income that’s still due
A salary that arrived in every recent month is expected until it arrives this month. A one-off bonus from two months ago isn’t.
Honest about how sure it is
Early in a month it says the number is a rough direction. As the month fills in the estimate tightens, and it shows what it was based on.
How it works
- 1
Record your income and spending by voice, receipt photo or typing.
- 2
Open Analytics. The forecast is the first thing on the page.
- 3
See the expected spend and the expected savings or shortfall, and cut back while there’s still time if you need to.
Why a simple daily average gets it wrong
Dividing what you have spent by the days gone and multiplying by the days in the month sounds reasonable, until rent lands on the 1st. With 3,000 of rent and 50 a day of groceries, that calculation on day 5 sees 3,250 spent and predicts 19,500, against a real total of about 4,500.
IncomeWise separates fixed commitments from day-to-day spending first, and only the day-to-day part is projected by day.
How the estimate is worked out
Four signals are blended: how much of your day-to-day spending has usually happened by this day of the month, your last seven days carried forward, this month’s average so far, and your past months’ daily rate. Commitments your history says are still due this month are added on top, category by category, so a one-off television can’t stand in for rent.
It is an estimate, not a promise. With no history it works from this month so far, and says so.
What is free and what is Premium
Tracking income and expenses is free. The forecast, with its amounts and how they add up, is in Analytics, which is part of Premium at $3 a month.
Frequently asked questions
How does IncomeWise predict my month-end?
It separates fixed commitments such as rent and bills from day-to-day spending, then projects the day-to-day part from your past months’ pattern, your last seven days and this month so far. Commitments and income still due are added from your history.
How much history does the forecast need?
None to start: in your first month it works from the month so far. It gets steadier with one previous month and steadiest with three.
Does it need my bank account?
No. It only reads the transactions you have recorded in IncomeWise.
Can it remind me where the month is heading?
Yes. A few times a month IncomeWise can tell you where the month is heading, and more often when money looks tight. You can turn this off under Notifications in Settings.
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Get the month-end forecast with Premium
Start free, then upgrade for $3 a month when you want the full toolkit. Cancel any time.