diff --git a/src/store/migrations.test.ts b/src/store/migrations.test.ts
index 0201f44..84e5061 100644
--- a/src/store/migrations.test.ts
+++ b/src/store/migrations.test.ts
@@ -22,3 +22,95 @@ describe("migrate", () => {
     expect(() => migrate({ posts: [] })).toThrow(/schemaVersion/);
   });
 });
+
+import { allocationFor } from "../domain/allocation.ts";
+
+/** A v1 dataset, in the shape that shipped before rules were versioned. */
+function v1Dataset() {
+  return {
+    settings: { baseCurrency: "DKK", foldStartMonth: "2026-01", schemaVersion: 1 },
+    fxRates: [],
+    posts: [
+      {
+        id: "food",
+        name: "Food",
+        order: 0,
+        archived: false,
+        currency: "DKK",
+        standingRule: { kind: "percentOfIncome", percent: 20 },
+      },
+      {
+        id: "games",
+        name: "Video Games",
+        order: 1,
+        archived: false,
+        currency: "DKK",
+        standingRule: { kind: "fixed", amount: { amount: 400, currency: "DKK" } },
+      },
+    ],
+    months: [
+      { id: "2026-01", income: { amount: 10000, currency: "DKK" }, ruleOverrides: {} },
+      {
+        id: "2026-02",
+        income: { amount: 12000, currency: "DKK" },
+        ruleOverrides: { games: { kind: "fixed", amount: { amount: 900, currency: "DKK" } } },
+      },
+    ],
+    purchases: [],
+  };
+}
+
+describe("v1 -> v2: rules become a dated series", () => {
+  test("each standingRule becomes one version starting at the fold start", () => {
+    const migrated = migrate(v1Dataset());
+    expect(migrated.settings.schemaVersion).toBe(2);
+    expect(migrated.posts[0]!.rules).toEqual([
+      { from: "2026-01", rule: { kind: "percentOfIncome", percent: 20 } },
+    ]);
+    expect(migrated.posts[1]!.rules).toEqual([
+      { from: "2026-01", rule: { kind: "fixed", amount: { amount: 400, currency: "DKK" } } },
+    ]);
+  });
+
+  test("the old field is gone afterwards", () => {
+    const migrated = migrate(v1Dataset()) as unknown as Record<string, any>;
+    expect("standingRule" in (migrated.posts as any[])[0]).toBe(false);
+  });
+
+  test("per-month overrides are left untouched", () => {
+    const migrated = migrate(v1Dataset());
+    expect(migrated.months[1]!.ruleOverrides.games).toEqual({
+      kind: "fixed",
+      amount: { amount: 900, currency: "DKK" },
+    });
+  });
+
+  // The property that matters: this is a shape change, not a recalculation.
+  // A shape-only test would pass while every balance quietly moved.
+  test("NO allocation changes: every post in every month resolves identically", () => {
+    const before = v1Dataset();
+    const migrated = migrate(v1Dataset());
+
+    // Resolve the v1 way by hand, since allocationFor now speaks v2 only.
+    const v1Allocation = (postId: string, monthId: string) => {
+      const post = before.posts.find((p) => p.id === postId)!;
+      const month = before.months.find((m) => m.id === monthId);
+      const rule = (month?.ruleOverrides as any)?.[postId] ?? post.standingRule;
+      const income = before.months.find((m) => m.id === monthId)?.income.amount ?? 0;
+      return rule.kind === "fixed"
+        ? rule.amount.amount
+        : Number(((income * rule.percent) / 100).toFixed(2));
+    };
+
+    for (const postId of ["food", "games"]) {
+      for (const monthId of ["2026-01", "2026-02"]) {
+        expect(allocationFor(migrated, postId, monthId)).toBe(v1Allocation(postId, monthId));
+      }
+    }
+  });
+
+  test("a v1 post with no posts at all migrates without throwing", () => {
+    const empty = { ...v1Dataset(), posts: [] };
+    expect(migrate(empty).posts).toEqual([]);
+  });
+});
diff --git a/src/store/migrations.ts b/src/store/migrations.ts
index 4791e1c..348c416 100644
--- a/src/store/migrations.ts
+++ b/src/store/migrations.ts
@@ -16,7 +16,27 @@ export class UnsupportedSchemaError extends Error {
  * because users' stored data has already been through it.
  */
 const MIGRATIONS: Array<(data: any) => any> = [
-  // index 0: there is no version 0 in the wild yet.
+  // index 0: there is no version 0 in the wild.
+  undefined as unknown as (data: any) => any,
+
+  // 1 -> 2: a post's single `standingRule` becomes a one-entry dated series,
+  // effective from the fold start. Behaviour-preserving by construction: the
+  // standing rule already applied from the fold start onward, so every month
+  // resolves to exactly the allocation it did before.
+  (data: any) => ({
+    ...data,
+    settings: { ...data.settings, schemaVersion: 2 },
+    posts: (data.posts ?? []).map((post: any) => {
+      const { standingRule, ...rest } = post;
+      return {
+        ...rest,
+        rules:
+          standingRule === undefined
+            ? []
+            : [{ from: data.settings.foldStartMonth, rule: standingRule }],
+      };
+    }),
+  }),
 ];
 
 export function migrate(raw: unknown): Dataset {