How to account for "saving up for X"?

[Greg Hewgill]

On Sun, Sep 26, 2004 at 08:13:43PM -0400, Derek Atkins wrote:
> Another option is a subaccount.  You can get the total value in the
> account tree by compressing the tree at the bank level, and you can
> see the individual budget bucket values by expanding the tree.

This is what I do too. If I need to spend something big out of one of
the savings sub-accounts (eg. Property Taxes), I would transfer the
money from the savings subaccount to my checking account so I can write
a check. If it's something smaller that I can pay out of funds already
in my checking account, then I just transfer the appropriate amount
from the specific savings subaccount to the general savings subaccount
at the same time as I make the payment.

The rolled-up balance always matches what the bank says I have in the
account, and I can tell at a glance how much I have allocated for each
specific subaccount.

Of course with subaccounts one must be sure to check the "include
subaccounts" option when reconciling the main account.

Greg Hewgill
http://hewgill.com
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