On Feb 2, 2009, at 12:16 PM, witsix wrote: > I think I understand that I can start tracking transactions without > starting to track cash flows yet. I've created a spending plan > already, so am reading to go with that. However, I won't receive my > first paycheck for the month of February until Feb. 13. I've created > my checking accounts and entered starting balances as of Feb. 01. I'm > also entering transactions, but am wondering if I can do that without > assigning buckets, since I haven't flowed any income into those > buckets yet. I notice the transactions show up as unassigned, but > don't know the ramifications of that. > Go ahead and start tracking your cash flow. All you need to do is click the green triangle below the x-axis on the chart and put in how much money you have available to spend as of Feb. 1, 2009. MoneyWell will put that in the income bucket you select and you can start allocating that money to your expense buckets today! Watch our Starting Cash Flow Tracking video for more help:
http://nothirst.com/tutorials/MoneyWellStartingCashFlowTracking/ > I'm thinking that on Feb. 13, I will enter my paycheck income, and > flow income into my spending buckets accordingly. Then, any > transactions that occur after that will be assigned to a bucket. Does > this make sense? > Yes. And once you get your next paycheck, you'll just click Allocate Income and have it fill your buckets as well. > Also, what if I have a bill that comes up that doesn't yet have enough > money in the bucket? For example, I just got a huge car repair bill. > Although I'm setting up a bucket for car repairs, there won't be > enough in that bucket for awhile. How are you paying for it? You must have pulled the money from somewhere. If that's the case, then you would drag that bucket to your Automobile bucket and put in the amount so you can create a money flow to it. If it's being paid for on a credit card, then you enter it in that account and assign it to your Automobile bucket. You might have to take money from another bucket to pay for it. In this case, it might be a Debt Repayment bucket. The bottom line is, if you have paid for something you still need to track it even if it sends a bucket into a negative state. You'll just need to work out how to get it back to zero and how to avoid this in the future by building up an emergency fund. 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 -~----------~----~----~----~------~----~------~--~---
