What is "In My Pocket"?
Simply put, "In My Pocket" shows how much money is left for everyday spending after all your bills and subscriptions are paid.
How does "In My Pocket" work?
You should remember that connecting all your checking and credit accounts is essential for In My Pocket calculation. Once your bank accounts are connected and transactions are pulled in, PocketGuard will identify your Income and Bills. Note that you may still need to tag some transactions as Income or Bills manually on the Plan screen. We use this information to do calculations, including your monthly savings goal. The equation looks like this:
INCOME – BILLS – SAVINGS GOAL – ONGOING SPENDING = IN MY POCKET
Your “In My Pocket” starts over on the 1st of each month.
Swipe the "In My Pocket" to change it to Weekly or Daily
Do transfers count towards "In My Pocket"?
PocketGuard automatically detects transfers between your banks and credit cards and excludes them from calculations, to avoid double counting.
To change that, just toggle the “Don’t count” option off for a specific debit transaction (marked with “FROM” stamp) or credit transaction (marked with “TO” stamp).
My "In My Pocket" is negative even though I have money in my account. Why is that?
Your “In My Pocket” is unrelated to your available balance and solely depends on your income. If you have unusual spending like paying taxes or planning a vacation out of your savings, we recommend marking excluding the transaction from calculations (Transaction details > “Exclude from calculations” on the bottom of the page).