[No Thirst Software] Re: Automatic download

2008-12-22 Thread bluegol...@gmail.com

Yes, you have the correct website.  You will notice that they have a
slightly different login than most banks, in that they have three
fields that must be populated, plus they allow for multiple account
numbers.  Ideally, you should use the overarching access number, as
that allows access to all subordinate accounts, and even accounts that
one is a joint or custodial owner of.  Then, they have both a user ID
and also a password.  I can name several products that all seem to
access them with no problem (Yodlee, Mint, Quicken, etc., etc.)

I also have this problem with other accounts, too, such as my Bank of
America Military Bank accounts.  It also tells me that direct download
is not available, BTW.  They are at https://www.bankofamerica.com/military/.


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[No Thirst Software] Re: business versus non-business income/expense

2008-12-22 Thread Kevin Hoctor

On Dec 22, 2008, at 8:55 AM, Robert wrote:

 As a follow-up to an earlier post about the best way to work with
 Moneywell with my wife, etc., another question comes to mind: how
 might I best differentiate in Moneywell between my income (which is
 all self-employment income) and her's (regular-pay-check income), and
 between my expenses (many of them business tax deductions), and hers,
 which are not? I ask because it seems like it would be easier if we
 could have (for example) one joint bucket for all income coming in,
 and similarly one joint bucket for each of the various expense
 categories. But will it get confusing if we have (as an example) an
 entertainment bucket, some of which will be tax deductible for me as
 research, some of which will be her's and not tax-deductible, etc.? Am
 I obligated to have business and non-business income/expense
 buckets for everything (or am I over-thinking this? :-))
 Thanks in advance!


Hi Robert,

I actually keep two MoneyWell documents and try to keep my business  
expenses all in my business document. When I have business expenses in  
my personal account, I usually put them in a Business Expense bucket  
and reimburse myself so I keep it clean.

For our income, I have two buckets to track Judy's and mine separately  
but when I allocate income, these are combined.

Peace,

Kevin Hoctor
ke...@nothirst.com
No Thirst Software LLC
http://nothirst.com
http://kevinhoctor.blogspot.com






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[No Thirst Software] Re: any ETA for the Iphone version?

2008-12-22 Thread Kevin Hoctor

On Dec 22, 2008, at 9:01 AM, Robert wrote:

 Just curious! (though I know that the real answer is that it's done
 when it's done :-))!
 Also let me know if you need beta testers!


No ETA until I get further along in the development process. Sorry.

Peace,

Kevin Hoctor
ke...@nothirst.com
No Thirst Software LLC
http://nothirst.com
http://kevinhoctor.blogspot.com






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[No Thirst Software] Re: regions bank direct connection via OFX

2008-12-22 Thread Kevin Hoctor

On Dec 22, 2008, at 10:01 AM, stguitar wrote:

 is this supposed to work? i have used moneydance and got it to work,
 as well as in quicken. i really am interested in your product as i can
 get away from MS in any form or fashion.

 interestingly, i had to create a connection manually in moneydance
 with the connection info found on this blog to get it to work.

 http://ofxblog.wordpress.com/2008/10/16/ofx-fi-details-for-regions-bank/

 FI Id: 1001

 FI Org: Amsouth

 FI Url: https://securebank.regions.com/OfxPipeline/ofx.ofx

 OFX Version: 102

 i was trying to connect in moneywell but never got it to successfully
 work. i am considering iBank as its supposed to work as well, but does
 not as of yet. i have emailed them to ask about the same thing. if
 your produce can work, i like yours better and would like to use it
 instead.


Thanks for the updated OFX information. I just updated MoneyWell's  
information so give it another try and let me know if it works. If it  
doesn't, please send me your ofxlog.txt file and I'll try to get it  
working. You can find it in your ~/Library/Application Support/ 
MoneyWell folder.

Peace,

Kevin Hoctor
ke...@nothirst.com
No Thirst Software LLC
http://nothirst.com
http://kevinhoctor.blogspot.com






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[No Thirst Software] Re: regions bank direct connection via OFX

2008-12-22 Thread Steven Guitar
wow thanks for the quick response. ill try it on my lunch break while im at
home and let you know.

On Mon, Dec 22, 2008 at 10:31 AM, Kevin Hoctor ke...@nothirst.com wrote:


 On Dec 22, 2008, at 10:01 AM, stguitar wrote:

  is this supposed to work? i have used moneydance and got it to work,
  as well as in quicken. i really am interested in your product as i can
  get away from MS in any form or fashion.
 
  interestingly, i had to create a connection manually in moneydance
  with the connection info found on this blog to get it to work.
 
  http://ofxblog.wordpress.com/2008/10/16/ofx-fi-details-for-regions-bank/
 
  FI Id: 1001
 
  FI Org: Amsouth
 
  FI Url: https://securebank.regions.com/OfxPipeline/ofx.ofx
 
  OFX Version: 102
 
  i was trying to connect in moneywell but never got it to successfully
  work. i am considering iBank as its supposed to work as well, but does
  not as of yet. i have emailed them to ask about the same thing. if
  your produce can work, i like yours better and would like to use it
  instead.


 Thanks for the updated OFX information. I just updated MoneyWell's
 information so give it another try and let me know if it works. If it
 doesn't, please send me your ofxlog.txt file and I'll try to get it
 working. You can find it in your ~/Library/Application Support/
 MoneyWell folder.

 Peace,

 Kevin Hoctor
 ke...@nothirst.com
 No Thirst Software LLC
 http://nothirst.com
 http://kevinhoctor.blogspot.com






 


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[No Thirst Software] Re: regions bank direct connection via OFX

2008-12-22 Thread Steven Guitar
ok i tried it agian... didnt work. i tried a few different regions
connections and also making my own. i re-downloaded the app to get any
changes you made and its still not working. i checked the log file and it
has several attemps. several using the wrong connection settings(which is
what the program tries to use), and i know the last one is the correct
settings but the app still doesnt pull in the data. i have attached that
file here.

On Mon, Dec 22, 2008 at 10:31 AM, Kevin Hoctor ke...@nothirst.com wrote:


 On Dec 22, 2008, at 10:01 AM, stguitar wrote:

  is this supposed to work? i have used moneydance and got it to work,
  as well as in quicken. i really am interested in your product as i can
  get away from MS in any form or fashion.
 
  interestingly, i had to create a connection manually in moneydance
  with the connection info found on this blog to get it to work.
 
  http://ofxblog.wordpress.com/2008/10/16/ofx-fi-details-for-regions-bank/
 
  FI Id: 1001
 
  FI Org: Amsouth
 
  FI Url: https://securebank.regions.com/OfxPipeline/ofx.ofx
 
  OFX Version: 102
 
  i was trying to connect in moneywell but never got it to successfully
  work. i am considering iBank as its supposed to work as well, but does
  not as of yet. i have emailed them to ask about the same thing. if
  your produce can work, i like yours better and would like to use it
  instead.


 Thanks for the updated OFX information. I just updated MoneyWell's
 information so give it another try and let me know if it works. If it
 doesn't, please send me your ofxlog.txt file and I'll try to get it
 working. You can find it in your ~/Library/Application Support/
 MoneyWell folder.

 Peace,

 Kevin Hoctor
 ke...@nothirst.com
 No Thirst Software LLC
 http://nothirst.com
 http://kevinhoctor.blogspot.com






 


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MoneyWell OFX Direct Connect Log

Timestamp: 2008-12-21 19:48:18 -0600
postRequest: https://ofx.morgankeegan.com/begasp/directtocore.asp


OFX Request:
OFXHEADER:100
DATA:OFXSGML
VERSION:102
SECURITY:NONE
ENCODING:USASCII
CHARSET:1252
COMPRESSION:NONE
OLDFILEUID:NONE
NEWFILEUID:NONE

OFX
SIGNONMSGSRQV1
SONRQ
DTCLIENT20081222014818
USERIDstguitar
USERPASS
LANGUAGEENG
FI
ORGregions.com
FID243
/FI
APPIDQMOFX
APPVER1600
/SONRQ
/SIGNONMSGSRQV1
PROFMSGSRQV1
PROFTRNRQ
TRNUIDFDE56F06-1A98-45A2-90A6-A6FDBC7AFA72
PROFRQ
CLIENTROUTINGMSGSET
DTPROFUP1970010100
/PROFRQ
/PROFTRNRQ
/PROFMSGSRQV1
/OFX
processRequest (connection successful)
connection:didReceiveResponse: 
https://ofx.morgankeegan.com/begasp/directtocore.asp
connection:didReceiveData: 489 bytes
connection:willCacheResponse:
connectionDidFinishLoading:


OFX Response:
OFXHEADER:100
DATA:OFXSGML
VERSION:102
SECURITY:NONE
ENCODING:USASCII
CHARSET:1252
COMPRESSION:NONE
OLDFILEUID:NONE
NEWFILEUID:NONE

OFXSIGNONMSGSRSV1SONRSSTATUSCODE15500SEVERITYERRORMESSAGESignon 
Invalid/STATUSDTSERVER20081221200956.531[-6:EST]LANGUAGEENGFIORGregions.comFID243/FI/SONRS/SIGNONMSGSRSV1PROFMSGSRSV1PROFTRNRSTRNUIDFDE56F06-1A98-45A2-90A6-A6FDBC7AFA72STATUSCODE15500SEVERITYERROR/STATUS/PROFTRNRS/PROFMSGSRSV1/OFX
Timestamp: 2008-12-21 19:48:21 -0600
postRequest: https://ofx.morgankeegan.com/begasp/directtocore.asp


OFX Request:
OFXHEADER:100
DATA:OFXSGML
VERSION:102
SECURITY:NONE
ENCODING:USASCII
CHARSET:1252
COMPRESSION:NONE
OLDFILEUID:NONE
NEWFILEUID:NONE

OFX
SIGNONMSGSRQV1
SONRQ
DTCLIENT20081222014821
USERIDstguitar
USERPASS
LANGUAGEENG
FI
ORGregions.com
FID243
/FI
APPIDQMOFX
APPVER1600
/SONRQ
/SIGNONMSGSRQV1
SIGNUPMSGSRQV1
ACCTINFOTRNRQ
TRNUID40537AD7-14CA-43A8-80FE-C27EAACF5BFF
ACCTINFORQ
DTACCTUP1970010100
/ACCTINFORQ
/ACCTINFOTRNRQ
/SIGNUPMSGSRQV1
/OFX
processRequest (connection successful)
connection:didReceiveResponse: 
https://ofx.morgankeegan.com/begasp/directtocore.asp
connection:didReceiveData: 501 bytes
connection:willCacheResponse:
connectionDidFinishLoading:


OFX Response:
OFXHEADER:100
DATA:OFXSGML
VERSION:102
SECURITY:NONE
ENCODING:USASCII
CHARSET:1252
COMPRESSION:NONE
OLDFILEUID:NONE
NEWFILEUID:NONE

OFXSIGNONMSGSRSV1SONRSSTATUSCODE15500SEVERITYERRORMESSAGESignon 
Invalid/STATUSDTSERVER20081221200959.578[-6:EST]LANGUAGEENGFIORGregions.comFID243/FI/SONRS/SIGNONMSGSRSV1SIGNUPMSGSRSV1ACCTINFOTRNRSTRNUID40537AD7-14CA-43A8-80FE-C27EAACF5BFFSTATUSCODE15500SEVERITYERROR/STATUS/ACCTINFOTRNRS/SIGNUPMSGSRSV1/OFX
Timestamp: 2008-12-21 19:49:31 -0600
postRequest: https://ofx.morgankeegan.com/begasp/directtocore.asp


OFX Request:
OFXHEADER:100
DATA:OFXSGML
VERSION:102
SECURITY:NONE
ENCODING:USASCII

[No Thirst Software] Downloading Problem

2008-12-22 Thread bnkirby

Hi,

New user here, I just purchased my license about 20 min ago.  I'm
having a problem downloading transactions from my bank.  I have 5
accounts with my bank and MW sees all of them when I set up the
downloading service.  Once I start downloading transactions, only 4
out of 5 accounts are downloading.  My checking account shows no
activity or starting balance.  All the other accounts are in working
order.  Is this a problem with my bank or MW?

Thanks,

Brian

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[No Thirst Software] Re: Downloading Problem

2008-12-22 Thread bnkirby

I guess it would help a bit if I told you what bank I am
using...PSECU.

On Dec 22, 3:35 pm, bnkirby bnki...@gmail.com wrote:
 Hi,

 New user here, I just purchased my license about 20 min ago.  I'm
 having a problem downloading transactions from my bank.  I have 5
 accounts with my bank and MW sees all of them when I set up the
 downloading service.  Once I start downloading transactions, only 4
 out of 5 accounts are downloading.  My checking account shows no
 activity or starting balance.  All the other accounts are in working
 order.  Is this a problem with my bank or MW?

 Thanks,

 Brian
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[No Thirst Software] Re: Downloading Problem

2008-12-22 Thread Kevin Hoctor

On Dec 22, 2008, at 2:47 PM, bnkirby wrote:

 I guess it would help a bit if I told you what bank I am
 using...PSECU.

 On Dec 22, 3:35 pm, bnkirby bnki...@gmail.com wrote:
 Hi,

 New user here, I just purchased my license about 20 min ago.  I'm
 having a problem downloading transactions from my bank.  I have 5
 accounts with my bank and MW sees all of them when I set up the
 downloading service.  Once I start downloading transactions, only 4
 out of 5 accounts are downloading.  My checking account shows no
 activity or starting balance.  All the other accounts are in working
 order.  Is this a problem with my bank or MW?



Hi Brian,

I'm not sure why this isn't working. If you could send me the  
ofxlog.txt file I would appreciate it. You can find it in your ~/ 
Library/Application Support/MoneyWell folder. Make sure to send it to  
my private address ke...@nothirst.com please.

Peace,

Kevin Hoctor
ke...@nothirst.com
No Thirst Software LLC
http://nothirst.com
http://kevinhoctor.blogspot.com






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[No Thirst Software] Re: Auto downloads / recommendation

2008-12-22 Thread Jaysen

To automate a transaction of this type you need to have static
storage of tokens. in THEORY any cipher is breakable given enough time
an power. Given that most encryption standards in use today are not
really very strong and most keys are easily accessible to a smart
person (with direct access to the machine) the banks are right. Add to
this the fact that save my password and other setting can make a
public systems a prime scrape target (think internet cafe). Let's not
even start discussing packet capture and and other advanced
techniques. Now consider that most advanced security technics
consist of not letting you store your password and requiring manual
entry† and no, they are not the same.

Now the reality is that ANY internet communication is inherently
insecure. Even with all the available realtime encryption a determined
attack WILL defeat the encryption. This means that even given the it
may not be safe to give you automated access argument the improved
access argument is bunk.

Yes the banks are right. Their practice is wrong. If they really had
your security in mind they would do the following:
1. No net access at all.
2. Require to go to a branch for all communication (your kids have
access to your mailbox? what about the neighbors?)
3. Refuse to accept checks, debit transaction (largest areas of
fraud).
4. Have no investments in risky ventures like low credit mortgages,
stock, etc.

Banks don't like hearing it, but a rational evaluation of their
practices shows that none of them actually have security in mind. In
reality most customers don't really care either. They just want to
know that the crook has to try a little harder to compromise them.

Sorry for the rant.

Jaysen

† Look up javascript onkeyup() and AJAX. It is possible to detect
a manual password submitted in a field using server side session
management and timing approximations (look in your banks login page
source).

On Dec 22, 12:56 pm, Jason Frisvold xenopha...@gmail.com wrote:
 Jaysen wrote:
  BUT, their excuse is legit. The OFX download is inherently insecure
  from a theoretical perspective. In the real world it holds up fine.
  Too bad most of the folks who make these decisions internet security
  are so detached from the real world that they are unable to see the
  stupidity of this position. If we used the same logic to determine is
  heart transplant were secure then we the medical community would
  never have would have tried it.

 Why would you say it's insecure?  The downloaded file is accessed in the
 same manner you would access the account, so the same security features
 should be in place, no?

  For the record I am one of those internet security types. More on
  the implementation and verification then decision making, but close
  enough to see both side of the story.

 I dabble..

  Jaysen

 --
 ---
 Jason Frisvold
 xenopha...@gmail.com
 ---
 I love deadlines. I like the whooshing sound they make as they fly by.
    - Douglas Adams
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[No Thirst Software] Redo

2008-12-22 Thread karenv

Kevin, I seem to have rally goofed up somewhere. I'm thinking of
starting over, before the new year. I paid in Feb for 1.0. Can I use
the same receipt number if I download v.2?
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[No Thirst Software] Re: Redo

2008-12-22 Thread Kevin Hoctor

On Dec 22, 2008, at 4:11 PM, karenv wrote:

 Kevin, I seem to have rally goofed up somewhere. I'm thinking of
 starting over, before the new year. I paid in Feb for 1.0. Can I use
 the same receipt number if I download v.2?


Hi Karen,

Well, MoneyWell 2.0 is not out yet and won't be for several months but  
1.4 is out and is free for all customers of MoneyWell 1.x. You can  
download it and start over. If do want to start fresh, try deleting  
your preferences (~/Library/Preferences/com.NoThirst.MoneyWell.plist)  
before running MoneyWell again.

Peace,

Kevin Hoctor
ke...@nothirst.com
No Thirst Software LLC
http://nothirst.com
http://kevinhoctor.blogspot.com






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[No Thirst Software] Re: Redo

2008-12-22 Thread karenv

Thanks. I have 2.0 on the brain. :-)


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[No Thirst Software] Re: Redo

2008-12-22 Thread Kevin Hoctor

On Dec 22, 2008, at 4:24 PM, karenv wrote:

 Thanks. I have 2.0 on the brain. :-)


Me too, but I have to finish the iPhone version first. ;-)

Peace,

Kevin Hoctor
ke...@nothirst.com
No Thirst Software LLC
http://nothirst.com
http://kevinhoctor.blogspot.com






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[No Thirst Software] Re: New MoneyWell Getting Started video

2008-12-22 Thread mikemc

thx, looking forward to them.

On Dec 22, 4:24 pm, Kevin Hoctor ke...@nothirst.com wrote:
 The first of our new MoneyWell 1.4 video tutorials has been posted.  
 You can check out our Getting Started video here:

 http://nothirst.com/tutorials/MoneyWellGettingStarted/

 More tutorials will appear over the next couple of weeks.

 Peace,

 Kevin Hoctor
 ke...@nothirst.com
 No Thirst Software LLChttp://nothirst.comhttp://kevinhoctor.blogspot.com
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[No Thirst Software] Re: Car Loan

2008-12-22 Thread mhadja...@gmail.com

My monthly payment from the bank is lets say 200 bucks. Each month, I
pay a different amount, sometimes 225, sometimes 250, sometimes even
300. Now any extra over the 200 goes towards principle.

So I can't track a steady cash flow because depending on how much
extra money I have left is what I put in towards the car payment.

So my 60 month loan should be paid off within 48 months hopefully.
Which makes having to do more work in MW to see my remaining loan
balance as well as track cash flow.

Mark


On Dec 22, 9:59 am, Kevin Hoctor ke...@nothirst.com wrote:
 On Dec 21, 2008, at 7:01 PM, mhadja...@gmail.com wrote:

  Maybe i'm missing something, but my interest goes down each payment as
  I'm paying more towards principle. It also changes depending on how
  many days sooner my payment clears. The reason for tracking is to see
  how much money is leaving my checking account each month, as well as
  the remaining principle left to pay my auto loan.

  When I receive my statement, it tells me the prior months interest
  payment, which I tack on to the remaining auto loan balance. So the
  actual amount owed for my vehicle isn't exact, but its within 100
  bucks typically.

 But your loan payments are the same all the time, correct? And this is  
 what comes out of your checking account each month so this is what you  
 are trying to track to control cash flow, right?

 What I am saying is, tracking the principal and interest is fine but  
 excessive work because you are not affecting it unless you decide to  
 pay more than you calculated loan payment. If you are going to do  
 that, then you still will have a static amount going to your loan each  
 month and you just have to check with the bank to see what you balance  
 is prior to your last payment because it will get paid off early.

  I'm trying to learn this program and use it to my advantage, but I
  feel like i'm struggling more to figure this out and having to hold
  back from a lot of the 2.0 features.

 MoneyWell 2.0 will have some great additions but the core process of  
 managing your cash flow better is already in place. If this is what  
 you're trying to accomplish or you just enjoy a cleaner register  
 manager, then MoneyWell 1.4 should be helpful.

 Peace,

 Kevin Hoctor
 ke...@nothirst.com
 No Thirst Software LLChttp://nothirst.comhttp://kevinhoctor.blogspot.com
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[No Thirst Software] Re: Car Loan

2008-12-22 Thread The Watkinson Family

Hi, Mark,

I take a different approach to loans than the others that have  
responded.  I like that MoneyWell helps me spend only the money that I  
have by allocating it to specific purposes.  However, as your example  
demonstrates, finance software should do more than that.  I refuse to  
keep two money softwares to track overall net worth as well as keep  
spending under control, and I have found that MoneyWell will actually  
do both.

Consider the fact that both your interest payment as well as the  
principal payment are Car Loan expenses.

Here's what I do.  When I first pay the bill every month, I don't know  
how much I am paying towards interest and how much towards  
principal... I'm just paying the bill.  I create this expense as a  
single transfer from my Checking account to my Car loan account.  I  
put this transfer in the Car Loan bucket.

Later, when I receive my loan statement, or look at it on-line, I can  
see how much of my payment was for interest and how much was for  
principal.

I edit the original transaction, creating a split.  I put Interest  
and Principal in the memo of the two split items.  The Interest  
item should not be a transfer, but it should be assigned to the Car  
Loan bucket.  Principal should be a transfer from Checking to Car  
loan, and it should also be assigned to your Car Loan bucket.

This way, your Car loan account will show approximately what you owe  
on your car loan as far as the principal is concerned (of course this  
amount changes every day), and you will be able to track your spending  
with buckets, as well.

Hope this helps.  Please let me know if you need further detail.

Grace to you,
Blair

On Dec 22, 2008, at 10:08 PM, mhadja...@gmail.com wrote:


 My monthly payment from the bank is lets say 200 bucks. Each month, I
 pay a different amount, sometimes 225, sometimes 250, sometimes even
 300. Now any extra over the 200 goes towards principle.

 So I can't track a steady cash flow because depending on how much
 extra money I have left is what I put in towards the car payment.

 So my 60 month loan should be paid off within 48 months hopefully.
 Which makes having to do more work in MW to see my remaining loan
 balance as well as track cash flow.

 Mark


 On Dec 22, 9:59 am, Kevin Hoctor ke...@nothirst.com wrote:
 On Dec 21, 2008, at 7:01 PM, mhadja...@gmail.com wrote:

 Maybe i'm missing something, but my interest goes down each  
 payment as
 I'm paying more towards principle. It also changes depending on how
 many days sooner my payment clears. The reason for tracking is to  
 see
 how much money is leaving my checking account each month, as well as
 the remaining principle left to pay my auto loan.

 When I receive my statement, it tells me the prior months interest
 payment, which I tack on to the remaining auto loan balance. So the
 actual amount owed for my vehicle isn't exact, but its within 100
 bucks typically.

 But your loan payments are the same all the time, correct? And this  
 is
 what comes out of your checking account each month so this is what  
 you
 are trying to track to control cash flow, right?

 What I am saying is, tracking the principal and interest is fine but
 excessive work because you are not affecting it unless you decide to
 pay more than you calculated loan payment. If you are going to do
 that, then you still will have a static amount going to your loan  
 each
 month and you just have to check with the bank to see what you  
 balance
 is prior to your last payment because it will get paid off early.

 I'm trying to learn this program and use it to my advantage, but I
 feel like i'm struggling more to figure this out and having to hold
 back from a lot of the 2.0 features.

 MoneyWell 2.0 will have some great additions but the core process of
 managing your cash flow better is already in place. If this is what
 you're trying to accomplish or you just enjoy a cleaner register
 manager, then MoneyWell 1.4 should be helpful.

 Peace,

 Kevin Hoctor
 ke...@nothirst.com
 No Thirst Software LLChttp://nothirst.comhttp:// 
 kevinhoctor.blogspot.com
 


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[No Thirst Software] Re: Car Loan

2008-12-22 Thread mhadja...@gmail.com

I was messing around with iBank and it seems to do what I want,
however, I'm still willing to give MW a shot till the end of the week.

What I want to know is my principle balance on the car. I don't need
it down to the exact dollar, as this amount will change on a daily
basis since that's how interest is calculated with this loan. However,
I would like it to be more ballpark. So updating it once a month is
sufficient.

My starting balance is a -xx,xxx

So what your saying is, when you make the payment, you move X dollars
from your checking into your car loan bucket. Since I pay mine
differently each month, I can't really budget for this, or can I?  I
have to make at least (eg, $350.00) - anything more goes towards
principle like I said. So should I set my budget for 350, or should I
make it lets say double this amount? Most likely I don't plan on
making more than double payments.

Then when you receive your next months statement, you update the
interest and principle (doing a split transaction) ?

I'll try that out as i'm doing something close to it, but mine seems
to involve a few more steps.

Mark

On Dec 22, 11:41 pm, The Watkinson Family thewatkins...@mac.com
wrote:
 Hi, Mark,

 I take a different approach to loans than the others that have  
 responded.  I like that MoneyWell helps me spend only the money that I  
 have by allocating it to specific purposes.  However, as your example  
 demonstrates, finance software should do more than that.  I refuse to  
 keep two money softwares to track overall net worth as well as keep  
 spending under control, and I have found that MoneyWell will actually  
 do both.

 Consider the fact that both your interest payment as well as the  
 principal payment are Car Loan expenses.

 Here's what I do.  When I first pay the bill every month, I don't know  
 how much I am paying towards interest and how much towards  
 principal... I'm just paying the bill.  I create this expense as a  
 single transfer from my Checking account to my Car loan account.  I  
 put this transfer in the Car Loan bucket.

 Later, when I receive my loan statement, or look at it on-line, I can  
 see how much of my payment was for interest and how much was for  
 principal.

 I edit the original transaction, creating a split.  I put Interest  
 and Principal in the memo of the two split items.  The Interest  
 item should not be a transfer, but it should be assigned to the Car  
 Loan bucket.  Principal should be a transfer from Checking to Car  
 loan, and it should also be assigned to your Car Loan bucket.

 This way, your Car loan account will show approximately what you owe  
 on your car loan as far as the principal is concerned (of course this  
 amount changes every day), and you will be able to track your spending  
 with buckets, as well.

 Hope this helps.  Please let me know if you need further detail.

 Grace to you,
 Blair

 On Dec 22, 2008, at 10:08 PM, mhadja...@gmail.com wrote:



  My monthly payment from the bank is lets say 200 bucks. Each month, I
  pay a different amount, sometimes 225, sometimes 250, sometimes even
  300. Now any extra over the 200 goes towards principle.

  So I can't track a steady cash flow because depending on how much
  extra money I have left is what I put in towards the car payment.

  So my 60 month loan should be paid off within 48 months hopefully.
  Which makes having to do more work in MW to see my remaining loan
  balance as well as track cash flow.

  Mark

  On Dec 22, 9:59 am, Kevin Hoctor ke...@nothirst.com wrote:
  On Dec 21, 2008, at 7:01 PM, mhadja...@gmail.com wrote:

  Maybe i'm missing something, but my interest goes down each  
  payment as
  I'm paying more towards principle. It also changes depending on how
  many days sooner my payment clears. The reason for tracking is to  
  see
  how much money is leaving my checking account each month, as well as
  the remaining principle left to pay my auto loan.

  When I receive my statement, it tells me the prior months interest
  payment, which I tack on to the remaining auto loan balance. So the
  actual amount owed for my vehicle isn't exact, but its within 100
  bucks typically.

  But your loan payments are the same all the time, correct? And this  
  is
  what comes out of your checking account each month so this is what  
  you
  are trying to track to control cash flow, right?

  What I am saying is, tracking the principal and interest is fine but
  excessive work because you are not affecting it unless you decide to
  pay more than you calculated loan payment. If you are going to do
  that, then you still will have a static amount going to your loan  
  each
  month and you just have to check with the bank to see what you  
  balance
  is prior to your last payment because it will get paid off early.

  I'm trying to learn this program and use it to my advantage, but I
  feel like i'm struggling more to figure this out and having to hold
  back from a lot of the 2.0