Needo, Moneywell uses a system that's designed to help us plan for future spending by having us set a smaller amount of money aside on a monthy basis for expenses that don't happen monthly, such as license renewals, taxes, etc.
What you need to do for your personal care example is figure how much you'll need when you go to get your hair cut. If you get your hair cut every three months, you'd put a third of that into your monthly allocation. Using your numbers of $17/mo for (gym?) membership and $13/every 3 months for hair cuts, you'd want to put about $22/month into your personal care bucket, and the additional $8 a month into your savings bucket. This way, at the end of the three months, when you're ready for your haircut, you'll have the $13 set aside already, and your savings will automatically grow every month. What I did was I used what I figured would be a yearly average, then divided it by 12 to estimate what I'd need in those buckets on a monthly basis. This helps keep my budget even from month to month, even though my cash flow might be larger or smaller based on the irregular spending. Hope this helps. ~d~ On Mar 1, 2:24 pm, needo <[email protected]> wrote: > On Mar 1, 1:08 pm, txcrew <[email protected]> wrote: > > > > > In my case, I don't allocate any funds to my bank fees bucket. When I > > am charged a fee from my bank, it's usually small enough that I can > > allocate funds from other buckets to cover the cost. > > > If you have several buckets in which you do not want the total to > > breach a set amount, in my opinion what you should do is since you are > > in fact saving money, you should re-allocate (or flow) the difference > > between the total and the amount that you set into your savings > > bucket. > > > Alternatively, since the amount left in each bucket at the end of the > > month can vary, you can override the amount you wish to be allocated > > at the beginning of next month in the 'allocate income' window. If > > the bucket does not need any additional income, set the amount to be > > allocated to '0' or the amount needed to bring the bucket to the > > amount you specified. > > I see what you are saying. I guess the way Moneywell does this one > part doesn't make a lot of sense to me. I assumed that if the bucket > is already full why would I add more? I would rather have that go in > to savings 99% of the time. There is baby 3-4 buckets out of my 10+ > that I want to grow. Here is another example of a way I tried to fix > this issue. > > For Debt Repayment I have $15 left from February. When I go to > allocate my income it wants to put the full amount for the first part > of the month in to the bucket. It doesn't take in to account the $15. > So I subtract $15 from the allocation to get the number I want. I then > "cheated" and pulled up the allocation for my next paycheck. The > allocation then added the $15 back for the 2nd allocation. > > In addition if before allocating my first paycheck I put that $15 in > my savings bucket Moneywell keeps trying to add an additional $15 to > cover that money flow as it now appears that bucket is in the red. > > This just seems like a lot of extra work on my part for what I think > the application should do naturally... I don't know.... maybe I should > submit a feature request so you can set this functionality on a per > bucket basis? > > Another example is it costs me $13 to get a haircut every couple > months in addition I pay for a membership of $17/month so for personal > care I put $30 month in that bucket. Well I don't get a haircut every > month so I don't want that bucket to keep growing. I don't want down > the line to have $45 in there for a haircut. I will never spend that > much. I want the app to see the bucket is full and tell me I have > that money left over from my flows and I will put it in to savings. --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
