Using Wealtie: How to set an income goal in Wealtie and track it month by month
An income goal in Wealtie is a target for what you want to earn each period, set beside your budget. You choose the amount, can split it across income categories like clients or side work, and see progress as income is logged. On the Free plan it's monthly; Pro adds weekly, quarterly and other periods.
By Wealtie Team · 3 min read
Key takeaways
- An income goal is a target for what you earn each period, shown next to your budget.
- On the Free plan, the income goal is monthly; Pro adds daily, weekly, quarterly and yearly periods.
- You can optionally split the target across income categories, such as each client, salary and side work.
- Progress updates as you log income, and each period's result is kept in the goal's history.
- Every period you reach the goal adds to your income goal streak; your best streak is kept if it resets.
What is an income goal in Wealtie?
A target for how much you want to earn in a period, set beside your budget. The budget says how much you'll spend; the income goal says how much needs to come in. Together they show whether the month works.
For a salaried job the goal is simple: it's your pay. It earns its place when income varies. If you freelance, work on commission, or have side income on top of a job, the goal turns "I hope it's a good month" into a number you can check against at any point.
The income goal is included on the Free plan as a monthly goal. On Pro, it can also be daily, weekly, quarterly or yearly.
How do you set an income goal in Wealtie?
Create the goal, give it a name and a target amount, and choose the period.
- Pick the target. Start from what the month needs: your budget, plus savings, plus tax to set aside if you're self-employed. That's the minimum the goal should cover.
- Choose the period. Monthly suits most people. On Pro, weekly or quarterly can fit better if you're paid that way.
- Optionally split it by category. More on that below.
- Log income as it arrives, and the goal's progress updates.
If your income varies a lot, set the goal at what a normal month needs, not your best month. How to measure income stability shows how to find that number from twelve months of pay.
Can you split an income goal by source?
Yes, and for freelancers it's the most useful part. The category breakdown is optional: you allocate parts of the target to income categories, and the allocations can't add up to more than the total.
Here's a worked example in round numbers, the same in any currency. A monthly income goal of 4,000:
| Income category | Allocation |
|---|---|
| Client A (retainer) | 2,000 |
| Client B (projects) | 1,200 |
| Side work | 800 |
| Income goal | 4,000 |
Mid-month, the breakdown shows not only that you're at 2,600, but that Client B hasn't paid anything yet. That's a reminder to chase an invoice or line up the next project while there's still time in the month.
How do you read progress and history?
The goal shows current progress for this period, and a history of past periods.
Current progress is what you've logged against the target so far. When you reach it, the app says so. The history keeps each period's result, so after a few months you can see your pattern: which months fall short, and by how much. That's what to plan your budget and buffer around.
Log income on the day it lands in your account, not the day you send the invoice. The goal should show money you can spend, and an invoice that hasn't been paid isn't that yet. If a client pays late, the gap shows up in the goal straight away, which is the point.
Can you change the goal mid-period?
Yes. When you edit it, you choose when the change applies. Applied to the current period, the period moves to the new setting immediately and keeps the progress it's already collected. Otherwise, the current period runs to its end unchanged and the new target starts with the next one.
Use the second option for most changes. A goal that moves whenever a month looks weak stops telling you anything.
What is the income goal streak?
A count of how many periods in a row you've reached your income goal. It works like the budget streak: each period you reach the goal adds one, and a period that falls short resets it to zero. Your best streak is kept. Both streaks, with their badges, are on the Free plan; the budget streaks page explains them both.
What does Pro add for income?
Income analytics: where your income comes from, a stability score for how consistent it is, and a projection. They're most useful once you have a few months of history. More on income goals and analytics is on the income tracker page.
How does the income goal fit with your budget?
Set the budget from income you can count on, and use the goal to see whether the month is on track. In Wealtie, the monthly budget and the income goal sit side by side, so a slow income month shows up early, while there's still time to slow spending. If your pay varies, the irregular income budget guide covers setting a budget that survives the low months.
Questions people ask
A target for how much you want to earn in a period. Wealtie shows your progress toward it as you log income, and keeps a history of each period's result.
Yes. The Free plan includes a monthly income goal. Pro adds daily, weekly, quarterly and yearly periods, plus income analytics.
Yes. Category breakdown is optional: allocate parts of the target to income categories, such as each client or a side job. The allocations can't add up to more than the total target.
The period is recorded in the goal's history and your income goal streak resets to zero. Your best streak is kept, and the next period starts fresh.
Yes. When you edit it, you choose whether the change applies to the current period now, keeping the progress already collected, or starts from the next period.
This article is general information, not financial, tax or legal advice. Your situation is your own; check the numbers that apply to you before you act on them.
