Feature2 min read
Seeing a tight week before it arrives
Nodu looks 90 days ahead at your bills and your pay. When a week will run short, it tells you, with the bill and the payday behind it.
By The Nodu team
In short
From the statements you send, Nodu finds the bills due over the next 90 days and when your pay lands. Then it works out your expected balance for each day ahead. When a week will run short, Nodu tells you ahead of time, with the amounts and the dates.
A household can be fine over a whole year and still have a week that runs short. Say the power bill is due on Thursday, and pay lands the Thursday after. Nodu is built to see those weeks coming.
Bills, from your statements#
Nodu reads your statements and finds what repeats, like the power, the phone and the insurance. A yearly bill like rego shows up once your statements cover two of them, or as soon as you tell Nodu about it. From that, it lists each bill it found for the next 90 days, with the amount and the day it's due.
Pay, and the gaps between#
Nodu also knows your pay: who's paid, how much, and whether it lands weekly, fortnightly or monthly. With your latest balances, your bills, your pay and your usual spending, it works out your expected balance for each of the next 90 days. Then it finds the day that balance runs low.
A heads-up, before it hits#
When a week will run short, Nodu tells you both. It goes in your shared Inbox, and if it's within 10 days, it emails you both too. It gives the shortfall, the bill and the payday. For an example household, it reads:
Money looks short around Thu 15 Oct. Your everyday accounts could be about $120 below zero once Origin Energy ($386.40) comes out on Thu 15 Oct, from your plan and latest balances. Pay comes in on Thu 22 Oct.
Nodu tells you once for each tight week, and again only if it gets worse. It says it plainly, and doesn't lecture you about spending.
What happens next#
You decide what to do about it. Later, Nodu will also be able to ask the company for a payment plan that starts on payday. It will draft the request for you to see before it goes, and nothing is sent without your OK.
Only as current as your statements#
A forecast is only as good as the statements behind it. Nodu looks ahead only once it has a recent statement for each account you spend from, and knows where your pay lands. Until then, and while you're setting up, it doesn't warn you about tight weeks. It tells you what it's waiting for instead.
Nodu tells you how current each account is, and which statement would help most when one falls behind. The forecast is an estimate, and it says so. Your real balance can differ.
General information, not financial advice. Nodu doesn’t give financial, credit, insurance, investment or tax advice. For advice about your situation, talk to a licensed professional.
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