Ask your beginners questions here 🚀

A post was merged into an existing topic: Start Investing With Emma

My pay day tends to vary by a few days each month. I should get paid on the last Friday of the month that falls before the 25th.

Sometimes this means I get paid on the 25th, or maybe the 24th or 23rd for example.

When looking at the chart that displays monthly Income vs Outgoings, the mont range seems fixed to show data between 25th of last month to the 25th of this month. Many times this means I see the income containing 2 paydays. This is not helping me to get a true sense of my income vs outgoings for my pay period, because its incluiding more than one pay. It makes it harder for me to simply see over time, if I am earning more than I am spending.

I would have thought Emma would atleast let me see, pay day to pay day, have I earned more than I have spent this period?

Am I doing something wrong? Would appreciate any input.

Sounds to me like your paid monthly, so if you have it as first to last day of the month, you’ll see on paypacket per month and your outgoings for the month. If your income fluctuates that might not be ideal though

For me Emma seems to adapt to my payday - at least it has done the last couple of times I got paid on a non-typical day.

My payday is usually on 26th, so my budget cycle is usually 26 to 25. But sometimes I get paid slightly earlier (e.g. if 26 is on weekends or bank holiday) and Emma seems to auto-adapt the cycle accordingly. For example in June my payday landed on 22 and Emma auto-adapted the budget cycle to 22 June to 25 July.

If it’s not doing something similar for you, it might be worth contacting support.

1 Like

Hi all, I’ve just signed up to Emma and I’m trying to get my head around the features. I appreciate this may be a very obvious question, so if there’s a good how-to guide please point me there!

I have two current accounts with the same bank: Account 1 is where my salary is paid, and Account 2 my husband and I transfer in money to pay for housing, bills etc. Account 2 often has a lot of internal transfers as we move money from it into shared savings pots. At the moment trying to set a budget is proving difficult as my income is obviously less than the outgoings. What’s the most sensible way to set my accounts up in the app so that I can set a budget for my personal account, but ignore the joint account? Can I just exclude Account 2 entirely from Emma’s analysis, or would it be sensible to just remove that account from the app?

Second question: I installed the app mainly to give me a better breakdown of where my money’s going so I can identify areas to cut back and help me increase my savings. I’d like to do this across both my current account and my credit card, which I use for day to day spending and pay off in full at the end of the month. How do I do that?

Hey Liz :wave:

Welcome to Emma!

In regards to your first point, there’s two ways you can manage this. If you’d like to track Account 2 separately from Account 1, use the Spaces feature. Learn more about Spaces here.

Alternatively, if you don’t want to track this account at all, hide the account so it doesn’t count towards your analytics. Learn more about hiding accounts here.

In regards to your second point, all you’ll need to is connect both your current account and your credit card to Emma. On the Feed tab, you should see at the top a field called Everyday. The balance that it shows here is your current accounts minus your credit card. If this balance is negative, it could mean that your current accounts are in overdraft or you’ve spent more on your credit card than you have in your current account.

Your analytics and budgets will apply to all your accounts connected in Emma, this includes your credit card (unless the account has been moved to another Space using the Spaces feature).

I hope that helps! If you have any further questions, let us know.

Hi, I have savings with N S+ I and Fidelity Investments but neither are showing.
How can I add my saving to my account?

Hey @KarenW, NS&I and Fidelity don’t support Open banking so we’re unable to connect with them. However, it is possible to use offline accounts to manually add accounts that you can’t connect. Please see here for more info: Create offline accounts | Emma App


With the ‘Real Estate’ section, I’ve put the value of our house there but should it actually be the equity we have in the house (house value - mortgage value)?

Thanks :slight_smile:

Hey @TanyaMH.

You could do it the way you’ve currently got it and put the house value minus the mortgage value.

For me personally, I’ve added my current house price in the Real Estate section, then added my current Mortage value in the loans section.

This means as I pay off my mortgage I can update that value and as my house price (hopefully) increases, I can update that figure separately and then Emma will calculate this into my overall Net Worth.

You can keep them separate like this if it works better for you too! :slight_smile:

1 Like

That’s great, I’ll do that - thank you

1 Like