Beautiful! This makes complete sense now. Thanks so much for the reply!
txcrew On Feb 22, 12:29 pm, Kevin Hoctor <[email protected]> wrote: > On Feb 22, 2009, at 11:16 AM, txcrew wrote: > > > Greetings all! > > > In my scenario, I had to transfer money out of my savings in order to > > spend it in one of my buckets bucket. I read some place on here when > > you make a transfer you aren't supposed to assign either side of the > > transfer to a bucket, is this correct? It only seems like it should > > be natural when you want to take money out of your savings and put it > > into an expense bucket, because it would not be classified as income. > > > What is the best practice for transferring money from your savings in > > order to spend it in a single bucket or across several buckets? > > Hi txcrew, > > I like transferring my money from a savings account to my "Other > Income" bucket so I can use Allocate Income to spend it. There's no > "right" way to do it but this puts the cash back into the flow at the > income level and this helps me keep it in the right perspective. > > > What is the best practice for doing the reverse (I assume just setting > > up your savings as an expense bucket and allocating income to it, but > > I'm getting stuck at the part of how to get that income transferred > > into my savings)? > > When you transfer money from your checking to savings, then assign the > outgoing transaction to your "Savings" bucket and that will remove the > amount that you allocated to it during Allocate Income (or from a > manual money flow). Allocating income to a Savings bucket is just a > way to set it aside until you get around to transferring it so you > don't spend it. > > > A fork issue from the above question is that I have money that I > > transferred into my savings account from my checking account. I > > marked the transfer OUT of checking in the Savings bucket and marked > > the transfer INTO my savings in the Savings bucket hoping that they > > would offset each other and mark the bucket at zero. But alas the > > transaction happened at the end of the month and the money posted to > > my savings before it cleared out of my checking which spanned the > > transaction across two months and now one month I have $0 in savings > > bucket the next month I have ($700)... > > > I know I'm doing something wrong, but I just don't know where! > > Arggg!! > > Just don't assign the incoming transaction. Remember that your action > was to "spend" money on savings (a great way to spend money) so you > only need to assign the one side of the transfer. > > 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 -~----------~----~----~----~------~----~------~--~---
