Everyday Spending in Castworth

The problem

It's a little bit, every day.

A few purchases here, a few there. Too many to plan one by one, but too important to ignore when we build your forecast.

So Castworth looks back at your past few months to estimate what you'll spend in the future.

Step 1

Castworth adds up your last 3 months.

Let's say your Everyday Spending was $4,800 in August, $5,300 in September and $4,900 in October. That totals $15,000.

Step 2

Castworth plans on the average.

$15,000 ÷ 3 = $5,000 a month. Castworth plans on $5,000 of Everyday Spending for every month ahead.

Step 3

Castworth splits each month in two.

Your Castworth forecast splits each month into two periods: the 1st to the 15th, and the 16th to the end of the month.

So November's $5,000 of Everyday Spending is split into $2,500 in each period.

Step 4

Some spending comes from checking. Some goes on a credit card.

In this example, Castworth plans for $2,500 in each period. That's $1,000 from checking and $1,500 on a credit card .

In your forecast

Checking shows up right away.

Everyday Spending in your checking account shows up during that period: $1,000 in each half of November.

In your forecast

Credit card spending is paid with your credit card bill.

Spending on your credit card doesn't leave your bank right away. It's paid when your credit card bill is due.

In this example, November's $1,500 + $1,500 = $3,000 is charged in November and paid with the bill due in December.

Castworth uses your credit card's own statement and due dates. Purchases late in a month can land on the next bill, so one month's spending may be paid across two bills.

See yours

Now see what Castworth predicts for you.

To see your own predicted spending, open Castworth on a computer. From your forecast, select More, then Predicted Spend.

It shows your Everyday Spending for a month and how it splits between your accounts.