Tracking Money in Savings Account

Derek Atkins warlord at MIT.EDU
Fri Dec 17 10:28:28 EST 2010


Wayne Bird <wrbird at hotmail.com> writes:

> Derek,
>
>> You only need to follow the subaccount structure *IF YOU ARE TRYING TO
>> BUDGET FOR FUTURE EXPENSES*. For example, if you're trying to budget
>> for a TV, saving $50 each month to build up the $2000 for that TV, that
>> would be when you'd want a Savings (or Checking) Subaccount.
>>
>> However in this case the subaccounts don't make sense. You're just
>> using them as passthrough accounts, not as budgeting envelopes.
>
> I'm beginning to understand a little bit more.  I'm really mixed up between
> putting everything in envelopes (subaccounts) or nothing at all.  So I
> understand what you mean by budgeting for future expenses, but isn't
> everything really being budgeted for future expenses -- gasoline, groceries,
> utilities, bi-annual insurance premiums, etc.?  Maybe, instead of subaccounts,
> I should use the budgeting feature of GnuCash?

I guess it depends how you look at it.  I don't consider my regular
monthly or weekly expenses to be "future" expenses.  They are expenses
that happy regularly, and it's easy to see whether I've spent it this
month or not by just looking at my accounts.

To me, a future expense is one that I need to save for over multiple
months, multiple pay periods, like buying a TV, a new Car, a vacation,
etc.

> Please don't give up on me!

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available


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