Thanks Kevin; I completely agree with the approach of spending cash and staying out of debt. MoneyWell and your other product Debt Quencher make the process of getting out of debt and then managing your money an easy task.
Both new features sound great and I will look forward to the 2.x series. Dan On Dec 17, 8:56 am, Kevin Hoctor <[email protected]> wrote: > On Dec 13, 2008, at 10:34 AM, Dan Harrison wrote: > > > I have used MoneyWell for the past five months and really like the > > design and cash flow concepts. Great work Kevin! > > > I have one area where I would like your (or the user community) advice > > and this deals with an area I call accruals. The concept is that we > > all have expenses that do not occur regularly but need to be in our > > budget. Examples would be automobile, landscaping, medical, and other > > expenses. I initially defined a monthly amount in my spending plan > > that flowed to the appropriate expense bucket. This works and the flow > > of non-used expense money to the next month would handle the so called > > accrual. What I found dangerous was the temptation to move this money > > to other buckets which would not leave enough money when the actual > > expense occurred. > > HI Dan, > > I'm very aware of this temptation and I am looking at ways to help > users manage this better. This also plays into a 2.x feature we have > planned for "Wish List" items. In switch from a reactive spending plan > to a proactive one, it would be nice if I could say that I want to buy > a new computer without using credit so I'll need to save $2000 and > have MoneyWell track that for me. It should give me a thermometer type > display for these items and alert me when I have enough set aside for > this purchase. The trick is for MoneyWell to help me from dipping into > this wish list money. > > This is being worked on because I truly believe that we are empowered > when we walk into a store and pay cash for something instead of > handing over control to Visa, Mastercard, or American Express. > > > My second attempt was to create income buckets where I would then > > allocate the accrual amounts leaving the expense accounts for the > > actual expenses when they occurred. I would transfer money from the > > income accrual to pay the expense. This works well but I had to > > create split transactions for all the accrual accounts when income was > > deposited in the bank. I defined my income transaction as repeating > > every month but it doesn't look like the application wants to repeat > > split transactions (only the master transaction amount). Is it > > possible to repeat split transactions? > > Sorry about the splits not repeating. In 1.4, we added recurring > transfers but splits didn't make the cut. That'll happen in the 2.x > range. > > > Do you (or anyone in the community) have an approach for allocating > > income into a holding bucket (accrual) and then transfer this to an > > actual expense when the expense occurs? > > Peace, > > Kevin Hoctor > [email protected] > No Thirst Software LLChttp://nothirst.comhttp://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 -~----------~----~----~----~------~----~------~--~---
