For me, since I don't consider the interest earned on my savings account as income to spend, I just make it a Optional Bucket (right click on the interest transaction). That way I don't have to assign it to a bucket. When/if I have to use the money out of my saving account, I usually transfer it to my checking account so I can write a check or use a debt card for it.
I never look to see how much interest I have earned over a certain time period. But it would be easy by selecting the savings accounts and filtering by payee name (in my case I use Interest Earned). Mark On Dec 10, 9:44 am, Matthew Rankin <[EMAIL PROTECTED]> wrote: > 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 -~----------~----~----~----~------~----~------~--~---
