I have three savings accounts—a regular savings account for big purchases and short-term emergencies, a savings account for my daughter to allocate money that she's been given or that we're setting aside for education, and a Health Savings Account (HSA) for medical expenditures that I get as part of my employer's insurance.
I'm curious how people are handling interest earned on their savings accounts. I can see two options to handle: Option #1 * Allocate interest directly to an expense bucket. For instance, I could allocate interest earned on the HSA Bank account directly to the Medical/Dental bucket. * Advantages: Simple * Disadvantages: Don't have easy visibility into how much interest I've earned. Is this really a problem though? Option #2 * Allocate all interest earned to an Interest Income bucket and then allocate the money from that bucket into the appropriate expense bucket. * Advantages: Can see how much interest I've earned on all three savings accounts by viewing the Interest Income bucket. Also, the graph seems "more correct" since the interest earned shows up on the income graph instead of as a negative amount on the expense graph. * Disadvantages: Two step process to get paid interest—1) allocate interest earned to the Interest Income bucket and then 2) allocate from the Interest Income bucket to the appropriate expense bucket Could other MoneyWell users please weigh in on how they're handling interest earnings? Thanks, Matthew --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
