On Jan 5, 2009, at 9:12 PM, lterenzi wrote: > Been wanting to try this for so long. I have downloaded and deleted it > many times as I didn't feel ready to rethink my daily financial > workflow. But it is a new year so what the heck! > Hi Lenny,
Happy New Year! > Three initial questions... > > 1. One of our income sources falls on the last business day of the > month for the next month. For example my wife got paid on Christmas > Eve as her company was closed from then until Jan 5. How do I tell > MoneyWell that her paycheck changes dates EVERY month? She gets paid > monthly. > If you mean how do you do this for repeating transactions, I don't have a way right now. I am adding a few other options for people that get paid once or twice a month and have to deal with "last day" dates. This is even tricky because many businesses call the last work day the last day and that may be a Friday for some and a Saturday for others. For now use the 28th and just update the date when you change the transaction from pending to open. > 2. I am an independent contractor I might get paid twice in a month, 5 > times or none... How is that handled? > You plan for your average amount each month and work your allocations from that amount. If you get paid more, the start to build a buffer of cash in your account so you can allocate from your reserves instead of living from paycheck to paycheck. > 3. I have already paid all or most major bills for Jan already. I want > to start using MoneyWell. What's the best way for me to approach it? > Should I just use it as a register for Jan and really start my > spending plan in Feb? > It's early in January so set your cash flow start date to Jan 1, 2009 and set the amount to your balance at the beginning of the month and allocate it. What you have paid so far should fall correctly into your buckets. > I hope I don't come off sounding like a moron here :) Looks like this > might really change the way we do our finances. We had been in a BIG > hole for years and now we are virtually debt free and have a good > chunk set aside for emergency and we want to continue and build on > that. Not at all. Budgeting and managing cash flow can be very hard and that's why I designed MoneyWell to be different that Quicken and the rest. I just struggled sticking to a budget and I needed all the help I could get. 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 -~----------~----~----~----~------~----~------~--~---
