When you set up a budget in CoinsBucket, you enter three numbers: income, fixed expenses, and savings goal. Your daily budget is everything left after those two deductions, divided by the number of days in your period.
That means getting fixed expenses right is crucial. Too low and your daily budget looks better than it is. Too high and you'll end every period with unspent money — which is fine, but less useful.
What to include
- Rent or mortgage payments due this period
- Utilities (electricity, internet, phone)
- Insurance premiums
- Loan or car payments
- Subscriptions (streaming, software, gym)
- Any direct debit or standing order you can't avoid
What not to include
Groceries, transport, coffee, eating out — these are variable and should come out of your daily budget. Don't pre-assign them. Let your actual spending tell you how much these cost.
A useful trick for irregular costs
For costs that don't fall every period (quarterly subscriptions, annual fees), divide the yearly total by your number of periods per year and add that fraction to your fixed expenses every period. This way, the money is always accounted for before it's due.
When in doubt, include it as a fixed expense. A conservative daily budget that you beat is more motivating than a generous one you constantly exceed.