On Apr 16, 2009, at 5:15 PM, Druzyne wrote:
> > >> I disagree. > > We may have to agree to disagree. However, I do want to respond to > your comments... > >> Yes we should all spend less than we earn, but that should >> be a conscience decision, not an artifact of mistakes we've made in >> data entry. >> >> I still think MoneyWell should enforce this check by default as it is >> a huge stumbling block for new users.... ...although I have yet >> to hear a compelling case for why you'd intentionally let your >> account >> balances diverge from your bucket balances. This one issue has been brought up at least as much as any other issue... and every time, it is very difficult to analyze the cause for out-of-balance relationships because of a variety of factors involved. What Lance says is true, however, that the checks are relatively mechanical and could be enforced by the program. Furthermore, most of the time, the reason the numbers are out of balance aren't due to intentional differences in starting cash flow, but usually because of a misunderstanding in how to apply transfers to buckets, or what starting cash flow is, or the nature of money flows, etc... If this is the case, a difference, even positive, isn't much of a comfort because this misunderstanding could create a negative relationship very quickly. > I very consciously made the decision to allow my Bucket Balance to be > far below my account balances. To me, bucket amounts are what you have > decided to spend, and I DO NOT want to spend every penny I own. Some > of the money I have in savings I plan to spend, but most of it is > money that should not factor into my plans for spending. Nonetheless, even your bucket balance and account balance should be different by a set and known amount if you continue to use MoneyWell correctly: Bucket Balances + Money not accounted for during startup + money deposited not assigned to buckets = Account balance The "delta" above, or the difference between your bucket balances and account balances, should remain the same unless you intentionally deposit more money that you choose not to allocate to a bucket. In this way, integrity between the bucket balance and account balance could still be enforced, recognizing that there is an intentional buffer created that accounts for the difference, and could even be reported by MoneyWell. More importantly, however, I don't think that this is an either-or... I don't think that it's either spend every penny I make (and allocate all money to buckets) or save some money (and not account for all my money in buckets). Some money can be reserved in Income buckets, set aside for specific purposes. Income can also be reserved in expense buckets for future savings, as well as both planned and unplanned expenses. > Fundamentally, however, bucket balances are meta-information separate > from reality, and have different meaning for individual users. They > are simply a tool for your goals, and it's up to you to form them into > depictions of what you need to know. It's fine if you see them as > another way of catching errors in data entry. I want buckets to allow > me to save as much as possible, so it's useful for me to have balances > that tell me I have less to spend than I actually do. Forcing this > metadata to fit reality with default behavior, however, will disrupt > its benefits to users like me. Wouldn't having a savings bucket accomplish the same thing with the added benefit of knowing exactly how much you have saved? There are merits on both sides, and many have been discussed, as to whether a savings bucket should be an income or an expense bucket. Nonetheless, if you insisted on balance integrity and maintained a Savings bucket, it seems like you would still be able save as much as possible, but now also track the amount of that savings. With such a setup, You could answer questions like: How much do I have that isn't committed to future expenses? How much of a deductible do I need on my insurance (can I save money on premiums)? If I get laid off, how long do I have to look for a better job? How much money do I have to start a new business? Can I financially help my family member or friend in need? How much can I contribute to the good cause discussed at church last Sunday? How much extra money do I have to apply to outstanding debts? Can I pay for the repairs for the recent emergency with money on hand? Grace to you, Blair --~--~---------~--~----~------------~-------~--~----~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
