Maybe i'm missing something, but my interest goes down each payment as I'm paying more towards principle. It also changes depending on how many days sooner my payment clears. The reason for tracking is to see how much money is leaving my checking account each month, as well as the remaining principle left to pay my auto loan.
When I receive my statement, it tells me the prior months interest payment, which I tack on to the remaining auto loan balance. So the actual amount owed for my vehicle isn't exact, but its within 100 bucks typically. I'm trying to learn this program and use it to my advantage, but I feel like i'm struggling more to figure this out and having to hold back from a lot of the 2.0 features. On Dec 20, 11:54 pm, Kevin Hoctor <ke...@nothirst.com> wrote: > On Dec 19, 2008, at 7:27 PM, mhadja...@gmail.com wrote: > > > What if you do not know your total amount left (with interest). I also > > do principle reductions. That was the reason why I wanted to split up > > both principle payments and interest payments. > > Mark, > > You should be able to get a current balance for your loan from either > the latest statement or the bank's website. > > > By having the principle starting balance, then adding interest each > > month, as well as subtracting the monthly payments, that'll show that > > i'm paying the loan down. If I don't create an 'Interest' bucket, i'm > > not sure how that will affect my cash flow reporting. Are the buckets > > needed for reporting? > > They are needed for reporting but the interest isn't something you can > pay less or more of so it doesn't directly affect your cash flow. If > you want to break up your payment into principal and interest with a > split, that will work. It just may be unnecessary since the bank > reports total interest paid on loans. > > Peace, > > Kevin Hoctor > ke...@nothirst.com > 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 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 -~----------~----~----~----~------~----~------~--~---
