Penny PaydayWhat is Penny Payday?
An iPhone app for planning your paycheck. You type your take-home check, the bills due before your next payday, and what you usually spend. Penny splits the check into bills, a set-aside for your goal, and envelopes, then gives you one number a day you can spend until payday.
How does Penny get my daily number?
It's arithmetic: your check, minus the bills due before your next payday, minus your set-aside and your envelopes, divided by the days until payday, rounded down to a whole dollar. You can try the simple version in the paycheck budget calculator.
What happens if I spend more than my number?
Log it. What's left is split again over the days left, so the next days' number goes down a little. Spend less than your number and it goes up.
Does Penny connect to my bank?
No. There's no bank link and no account. Penny never asks for bank logins. You type your check and bills yourself, and log spending with an amount and a name.
Where is my data kept?
Your plan is stored on your phone. Some numbers are sent as anonymous usage analytics, not tied to a name, email or account; the Privacy Policy lists exactly what. To erase your plan, use "Delete all my data" in the app, or delete the app.
Does it work if I'm paid hourly, in tips, or by a gig app?
Yes. Penny handles pay every week, every two weeks, twice a month or monthly. For gig pay you plan each week on a number you choose, like your last 4 weeks or your lowest week, and payouts count toward it as they land. Extra money, like a good tip night, can be added when it comes in.
I'm paid 1099. Does Penny handle taxes?
Penny can set aside a percent of every payout in a Taxes envelope before anything else is planned. It's a set-aside, not a tax calculation, and it isn't tax advice. See the gig tax set-aside calculator for how people pick a percent.
What does it cost?
Penny Payday is a subscription. You build your whole plan first, and the price shows in the app before you pay. Payments go through Apple.
How do I cancel?
On your iPhone, open Settings, tap your name, then Subscriptions, then Penny Payday, then Cancel Subscription. Deleting the app does not cancel a subscription. More on the support page.
Is Penny on Android?
Not now. Penny Payday is an iPhone app.
Is this financial advice?
No. Penny does arithmetic on the numbers you enter. It is not financial, tax or legal advice, and decisions about your money are yours.
How do I reach you?
Email support.tyhlabs@gmail.com. Tell us your iPhone model, iOS version and what happened.
Ready when you are. Type your check and see your number.
