Thanks Kevin! I may need to elaborate a bit more.... Or we may be saying the same thing just in different ways.
For question #1 Getting paid on the last day... My wife always get paid on the last business day of the month so it always a weekday but it does change from month to month of course. So you are saying just update the date before I fill my income bucket? Question #2 Sounds perfect, makes sense! Nice! :) Question #3 When / how to start I am not quite following you here... Let me re-explain and see if we are still on the same page. You probably answered my question perfectly and I may just not be getting it yet. Since I have already paid my bills and entered everything in my old financial program I am not too keen on redoing it as there have been many other transactions as well in that time. I don't want to go back and redo everything in MoneyWell. Bills are paid and other transactions have cleared and i have X amount of dollars in my account now for monthly living, savings, etc. Thanks for the fast and thorough reply! Make me want to stick with it and really give it a shot knowing that service is this nice and easy! :) Best Lenny On Jan 6, 10:43 am, Kevin Hoctor <[email protected]> wrote: > 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 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 [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 -~----------~----~----~----~------~----~------~--~---
