On Dec 17, 2008, at 5:15 AM, Jaysen wrote: > One of the reasons I am really liking moneywell is the quick feed > back. The lack of feed back has been hampering my efforts to get out > of debt. What is the best way manage "liability" accounts from > Quicken? > > I have the following loans and debts to manage: > • Mortgage > • CC x 2 > • Home remodel > • Auto > • consolidation > > I am used to seeing these as liability and asset accounts in Quicken > and figure that I am likely to wind up with the same mess in Moneywell > if I don't simply ask advice. > > Do we just look at these as buckets? If so, one bucket of debt, > separate individual buckets? > Jaysen,
Your liability accounts should be actual accounts in MoneyWell and you should set up a bucket (or buckets) with planned amounts to pay down these accounts. This way when you allocate your income, money will be set aside for each of these and then you can transfer money from your checking to each of these accounts and assign the outgoing transaction to that bucket. It keeps your cash flow clean. > How do we track the interest? Do they all get a but "interest" bucket? > If you want to track interest, you can create an interest bucket. I don't bother since it really isn't something I can change in my cash flow. I try to limit my buckets so I maximize the visuals about my spending habits. If I have a hard time not spending on eating out, then I need a bucket for "Dining" and I limit my spending in that area. I can't affect my insurance spending so all the various one (home, health, life, auto) are simply lumped into one bucket called "Insurance." Having more detail there would only clutter my view and give me longer reports. It won't help me spend more wisely. > Sorry for the questions. If I am going to meet my 12/31 divorce from > quicken date I need to wrap my head around this stuff pretty quick. > Not a problem. Ask as much as you need to please. > <little side conversation to the person who pointed my to Moneywell> > Hello tannie. You only have yourself to blame for all my questions > here. Your answers pushed me over the edge on this. Now I am obsessing > over this instead of working my other projects. See what you have > done? Thanks Tannie! ;-) Peace, Kevin Hoctor [email protected] No Thirst Software LLC http://nothirst.com http://kevinhoctor.blogspot.com --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
