Kevin, I get the whole concept. No problem. I'm just having trouble implementing it. Remember my rebel/lazy phase? Well, I overspent in several categories in November and Dec. My check was deposited 23 Dec. My cash flow date begins 1 Jan 09 and, on the Allocation page, my next month starts 10 days before the end of month because the check was credited on the 23rd of Dec. (My checks come at the end of each month for the succeeding month.)
I've just changed the Cash flow date to 31 Dec 08 and I still have tons-o-red numbers in my buckets. My income bucket was way (3x) in the red so I used the bucket panel to delete dupes from 28 and 29 Dec. Apparently, each time I have a go at Allocation it adds another allocation in each bucket? I have data in MW since 1 Sept. What am I doing wrong? Karen Hairless On 29-Dec-08, at 2:34 PM, Kevin Hoctor wrote: > > On Dec 28, 2008, at 7:57 PM, karenv wrote: > >> After all my gushy words yesterday, I've run into a roadblock. :- >> ( I'm still gushy but I'm stymied. I get paid anywhere between the >> 22nd and the 26th of each month. I've done my Spending Plan--it >> balances-- but, because (I think) I'm not getting the hang of >> planning >> for the month ahead of my check, my over-spends from previous months >> are preventing me from allocating for the month of January. I can't >> stand those red figures! I've tried changing the cash flow date to >> all >> kinds of dates but nothing works. Everything is going to the month of >> December and my shoulders are up against my ears! I thought I had >> things figured out but I guess not. It's funny 'cause the Allocation >> feature is the best/critical part of MoneyWell and yet, it's the most >> complicated, for me anyway. >> >> Thanks for any help. > > > Hi Karen, > > It helps if you think about the Allocate Income process as a physical > act of cashing your check and dropping the correct amount of cash in > each bucket (just like many of us did with the envelope system). When > do you spend the end of month paycheck? If it needs to be used in the > current month then you just allocate income after adding that > transaction. > > If you get paid on the 25th and have paid all this months bills but > still want to handle some allocations for next month so you can pay > bills on the 1st of next month, you would use the new "Next Month > Starts" option and tell MoneyWell that even though there are six more > days in this month, you want to start allocating for next month. Just > set this to 6 days and the buckets will show what they need for next > month instead of looking like they are filled from the current month. > > If you don't need to pay any bills for next month yet then you don't > need to do anything but use Allocate Income on the 1st of next month > and MoneyWell will fill all the buckets correctly. > > If you have overspent buckets in this month then you haven't allocated > enough money to them or you have spent more than you planned and need > to move money around. This can happen if you didn't enter the correct > amount when you set up your cash flow start date. Try this: On Dec. 31 > figure out how much money you have available to spend as of your end > of day balance and use this amount and the date Jan. 1, 2009 in the > cash flow start date panel (Edit > Change Cash Flow Start Date). You > should then be using your leftover cash from your end of month > paycheck to begin funding January and all the past cash flow history > won't affect your bucket amounts. > > 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 -~----------~----~----~----~------~----~------~--~---
