Get a clearer view of your income, and plan ahead for upcoming expenses with confidence by setting a budget
If your business uses On-demand Wages (Wageflo), you also have access to foundU's Budget Tool.
With our Budgeting Tool, you can set up your ‘fixed’ expenses (things like rent, car, food, entertainment, bills, etc) and see how much you'll have left at the end of the week. This lets you control where your earnt money gets allocated.
The Budgeting Tool also gives you the ability to see your earnings in real time and better still, be able to know what you’re likely to earn for the week based on your upcoming shifts!
Along with using the Budgeting Tool, you can nominate either a fixed $ amount or a % of your wages to go into multiple bank accounts.
Please see our Edit financial details (bank account or super) article for instructions on how to set up multiple bank accounts in your Employee App!
Setting up a budget
Setting a budget in an app helps you take control of your money by tracking where it goes and preventing overspending. It allows you to plan for expenses, save toward goals, and make smarter financial decisions—all in one convenient place.
To set up your budget:
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On the home page of your Employee App, navigate to Calculate Budget (see the image below).
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You will see a history of your hours for previous pay periods, along with the hours you have worked for the current pay period.
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Select 'Budget' to see your Earned Pay and Upcoming Pay and to add any additional income or expenses.
Add an additional income
Adding additional or external income sources to your budgeting app helps you get a complete picture of your finances. It ensures your budget reflects all your income, making it easier to plan spending, save effectively, and reach your financial goals faster.
To add an additional income:
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Select 'Add Other income' and type in the relevant amount and 'Save income'.
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You will now see your remaining budget for the current pay cycle, including the additional income you have entered.
Add an expense
Adding expenses to your budgeting app helps you keep track of where your money goes. By recording your spending, you can see patterns, stay within your budget, and make better decisions to improve your financial health.
To add an expense:
- Select 'Add expense'
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Select the Expense type (e.g. rent, bills etc), enter the amount and select 'Save Expense'.
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You will now see your remaining budget for the current pay cycle, including the expenses you have entered.
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Repeat steps 1 & 2 to add any additional expenses (optional).
Edit your budget
If your additional income or expense changes, you can do this by selecting the existing income or expense and editing the amount.
To edit an existing additional income or expense:
- On the home page of your Employee App navigate to Calculate Budget.
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Select 'Budget' then select your existing additional income or expense.
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Update the existing amount and select 'Save'.
Remove your budget
Removing a budget from your app helps you stay organised and focused on your current financial goals. It allows you to clear out outdated or unnecessary budgets, keeping your planning simple and relevant to your needs.
To remove an existing additional income or expense:
- On the home page of your Employee App navigate to Calculate Budget.
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Select 'Budget' then select your existing additional income or expense.
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Remove the amount specified and select 'Save'. The additional income or expense will be removed from your budget.