On Dec 19, 2008, at 5:56 PM, mhadja...@gmail.com wrote: > I want to put my car loan into the program, but i'm not sure how I > should go about doing this. > > The amount financed from Chase Auto Finance is 19,680.10 for 72 months > @ 7.85% interest rate. The loan started in October of 2007 and my > first payment was due December 5th, 2007. > > Should my starting balance be the total amount of the loan, 19,680.10 > - then add interest each month, followed by a payment? > > If I just add my monthly statement bill, 344.72 then I won't really > know how much I have left to pay off. So I figured by starting with > the full loan amount i'll be able to see a reduction in my 'debt' each > month. > > Any tips would be greatly appreciated! > > I just purchased the software today and i'm struggling to break > Quicken habits.
Hi Mark, Since MoneyWell doesn't calculate the loan for you yet (that is coming in a future release), your starting balance should be the total amount left (principal + interest). Then you can just enter the payments as transactions. When I make a car payment from my checking account, I create a transfer transaction and assign the outgoing transaction to my car payment bucket. I wouldn't bother trying to break out the interest because it really doesn't affect your cash flow (that was a Quicken habit I had to break). Peace, Kevin Hoctor ke...@nothirst.com 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
