Thank you! That is clear. Unfortunately, I am still have a couple of questions. For example:
My checking account balance is currently $ 163.25. When I click on that account, Moneywell tells me the 3/30/09 balance is $163.25; the reconciled balance is ($16,951.15); and the buckets balance is $2,424.98, a number that I can't for the life of me figure out how it calculates. As near as I can tell, what it reports as the reconciled balance is the total withdrawals from the last statement I reconciled. It has nothing to do with the actual reconciled balance from that bank statement or anything else. The groceries bucket is currently showing a negative 7.07, yet I *know* that I spent more than that over budget (unfortunately). When I clicked on the bucket to try and see what transactions it has, it showed me just the transactions from whichever account is selected (for example, checking or Amex, which I use when buying groceries out of town). Is there a way to look at all the transactions for a bucket, regardless of which account the money came from? Lynne On Tue, Mar 31, 2009 at 10:13 PM, Kevin Hoctor <ke...@nothirst.com> wrote: > On Mar 31, 2009, at 9:47 PM, cardigrl wrote: > > When you use the debt repayment bucket, do you use that for the entire > amount of the payment, or just the interest? In other words, I'm paying > down a credit card. I need to plan for the entire monthly payment, so > that's what I assign to the debt repayment bucket. But what do you do with > the interest charges? Do you track those somewhere other than as an > increase in the credit card account not assigned to a bucket? If I assign > those to the debt repayment bucket, it seems I would be counting that twice > because it's included in the monthly payment. > > Does that question make any sense? > > > Hi Lynne, > > You don't need to track the interest separate from the payment since a > credit card is charging you interest on interest. Trying to break those > values out isn't helping your cash flow management. Pay down your credit > card balance and work to eliminate them as a means of paying any expenses as > quickly as you can and that will help reduce the interest you are paying. > > As for the bucket assignment, the goal is to set aside money to pay off > your debt so you'd give the Debt Repayment bucket a planned amount, allocate > income to it, and then pay your credit card with that payment assigning the > whole withdrawal transaction to that bucket. If this isn't clear, please let > me know. > > Peace, > > Kevin Hoctor > ke...@nothirst.com > 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 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 -~----------~----~----~----~------~----~------~--~---
