Why Finium counts your income only once

In How this was worked out, you may see this note:

Your September income is already in your account. Finium counted it once, as money you have. It will not count it again.

Here is what it means.

Two ways income can appear

When Finium works out whether your money covers your plans, it adds up two things:

• Cash you have — the balances of your everyday accounts today.
• Income still to come — income in your plan that has not arrived yet.

Then it takes away what your plans still need.

What happens when your salary arrives

Before your salary arrives, it is income still to come. It is in your plan, and Finium counts it as money on its way.

When it arrives, it becomes part of your account balance, so it is now cash you have. If Finium also kept it as income still to come, the same money would be counted twice, and your position would look better than it is.

So once Finium sees the income in your account, it counts it only as cash, and takes it out of income still to come. The note is telling you that this has happened.

An example

It is 21 September. Your plan has £5,700 of income in September and £5,700 in October.

• September's salary arrived on the 15th. It is in your account balance, so it is counted in cash you have.
• October's salary has not arrived, so it is counted in income still to come: £5,700.

Each month's income is counted exactly once. In How this was worked out, the "Income you have planned" section shows both months and says, for each one, whether it is counted and why.

If income arrives early

If a payment for next month lands before this month ends, Finium asks you which month it belongs to. Your answer decides where it is counted — and it is still counted only once.