Excellent post. :)
On Dec 19, 11:34 pm, Jaysen <[email protected]> wrote:
> In a sudden flash of lucidity it all makes sense. I think. Let me pass
> this by the much wiser folks here and see if I am *finally* getting
> it.
>
> On my 3rd time through a tutorial tonight it dawned on me that a
> "bucket" can be thought of as a "register". Think about how you
> account for a check using a paper register. You start with a balance
> and enter the check details. When the balance is $0 you are done (or
> living dangerously). I know this is not shocking, but bear with me a
> minute. The "standard" thought about entering a transaction in most
> software is to go to the account register (or ledger) and enter the
> transaction assigning the transaction to a category (bucket in
> MoneyWell) in the process. This category is a budget line which you
> report against as needed.
>
> If what I described makes sense and seems right then I think we can
> say this is why other software didn't work for me. Here is why.
>
> In MoneyWell each BUCKET is a register with an available balance. When
> you need to spend your $$ enter the transaction in the BUCKET register
> and assign the transaction to the bank account bank account you are
> withdrawing from. This subtle change of writing a check against the
> bucket register instead of the account register (with category) alters
> the entire relationship between your available funds and your
> expenses.
>
> By approaching your buckets like a series of separate registers (think
> check books) the whole idea of following a budget (spending plan)
> vanishes and you are simply honoring your account balance. The budget
> is now the sole point of CONTROL not a point of reference. It can't be
> ignored. Pick the category first, see what you have available in that
> category THEN spend your money. So … simple …
>
> This may not be the glorious epiphany for you that it was for me. If
> not then just smile nicely and humor the fool on this side of the
> connection. He can be slow at times. If by some twist of fate there is
> another person that "sees the light" based on this … my condolences.
> You must think like me. I know just how bad that can be.
>
> Kevin, you have just changed the way I think about budgeting. I don't
> know if there was a radical departure from the envelope system
> somewhere here, but your product certainly shows that you put a large
> amount of thought into how this should work. For the first time I
> finally see a way to actually FOLLOW the budget, not just see how far
> overspent I am. Thank you. Thank you. Thank you.
>
> Jaysen
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