diff --git a/src/domain/fold.test.ts b/src/domain/fold.test.ts
index d3f11fb..1426888 100644
--- a/src/domain/fold.test.ts
+++ b/src/domain/fold.test.ts
@@ -285,3 +285,77 @@ describe("the projected track", () => {
     expect(EMPTY_FIGURES.projectedCarriedIn).toBe(0);
   });
 });
+
+/**
+ * A `lastCharge` cost with no recurring charges yet: `foldBalances` sees only
+ * `startDate` and no confirmations. Kept separate from `datasetWithRent`
+ * (which is `calendar`) so an anchored fixture never accidentally inherits a
+ * grid that anchoring does not have.
+ */
+function datasetWithAnchoredPlan(): Dataset {
+  return {
+    settings: { baseCurrency: "DKK", foldStartMonth: "2026-01", schemaVersion: 8, digits: 2 },
+    currencies: [{ code: "DKK", symbol: "kr", name: "Danish krone" }],
+    fxRates: [],
+    posts: [
+      {
+        id: "phone",
+        name: "Phone",
+        order: 0,
+        archived: false,
+        currency: "DKK",
+        rules: [{ from: "2026-01", rule: { kind: "fixed", amount: { amount: 10000, currency: "DKK" } } }],
+      },
+    ],
+    months: [],
+    purchases: [],
+    recurring: [
+      {
+        id: "plan",
+        name: "Phone plan",
+        order: 0,
+        archived: false,
+        amount: { amount: 300, currency: "DKK" },
+        startDate: "2026-01-01",
+        recurrence: { kind: "everyNDays", n: 30 },
+        anchoring: "lastCharge",
+        splitMode: "percent",
+        splits: [{ postId: "phone", value: 100, absorbsRemainder: true }],
+      },
+    ],
+  };
+}
+
+describe("the anchored (lastCharge) track", () => {
+  test("three charges in one month are all ACTUAL, with NO expectation left in it", () => {
+    // The phone-bill case: hitting the data cap three times in January means
+    // three real purchases, each restarting the cycle. None of them is a
+    // "confirmation" of anything — an anchored cost has no slot to confirm —
+    // so every occurrence the walk still emits is a genuinely FUTURE one, and
+    // none of it should land back in January alongside the charges that
+    // already happened there.
+    const data = datasetWithAnchoredPlan();
+    data.purchases.push(
+      { id: "p1", date: "2026-01-05", description: "Phone plan", total: { amount: 300, currency: "DKK" }, splitMode: "percent", splits: [{ postId: "phone", value: 100, absorbsRemainder: true }], schedule: null, source: { recurringId: "plan" } },
+      { id: "p2", date: "2026-01-15", description: "Phone plan", total: { amount: 300, currency: "DKK" }, splitMode: "percent", splits: [{ postId: "phone", value: 100, absorbsRemainder: true }], schedule: null, source: { recurringId: "plan" } },
+      { id: "p3", date: "2026-01-25", description: "Phone plan", total: { amount: 300, currency: "DKK" }, splitMode: "percent", splits: [{ postId: "phone", value: 100, absorbsRemainder: true }], schedule: null, source: { recurringId: "plan" } },
+    );
+
+    const january = figuresFor(foldBalances(data, "2026-01"), "phone", "2026-01");
+    expect(january.charges).toBe(900); // 3 x 300, all real money already moved
+    expect(january.expected).toBe(0); // nothing left uncharged in January itself
+  });
+
+  test("with no recurring costs, projected still equals remaining", () => {
+    // The anchored model adds a second walk (`anchoredOccurrences`), but a
+    // dataset that never defines a recurring cost must never see it: both
+    // walks are keyed off `dataset.recurring`, which is empty here.
+    const data = dataset([post("food", 500)], [spend("a", "food", 300, "2026-01-05")]);
+    const fold = foldBalances(data, "2026-03");
+    for (const month of ["2026-01", "2026-02", "2026-03"]) {
+      const figures = figuresFor(fold, "food", month);
+      expect(figures.expected).toBe(0);
+      expect(figures.projected).toBe(figures.remaining);
+    }
+  });
+});
diff --git a/src/domain/types.ts b/src/domain/types.ts
index 1b0c281..9dbf687 100755
--- a/src/domain/types.ts
+++ b/src/domain/types.ts
@@ -153,7 +153,15 @@ export interface RecurringCost {
    * future occurrences move.
    */
   amount: Money;
-  /** The first occurrence. "YYYY-MM" for everyNMonths, "YYYY-MM-DD" otherwise. */
+  /**
+   * The first occurrence. "YYYY-MM-DD" always, except `everyNMonths` under
+   * `calendar` anchoring, where "YYYY-MM" is also allowed — that grid is
+   * month-granular, but every other combination needs a real day: `everyNDays`
+   * and `everyNWeeks` hand this straight to `addDays`, and `everyNMonths`
+   * under `lastCharge` steps day-precisely from a real charge date. Both write
+   * boundaries (`requireStartDateGranularity` in `store/actions.ts`, the
+   * mirrored check in `export/json.ts`) enforce this pairing.
+   */
   startDate: IsoDate;
   /** Occurrences on or after this date are not projected. This is cancellation. */
   endedFrom?: IsoDate;