Tracking Money in Savings Account

[Wayne Bird]

Derek,

> 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.

Good point, I understand!

> 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.

Yes, I understand!

Do you use the budget feature in GnuCash?

Wayne


> From: warlord at MIT.EDU
> To: wrbird at hotmail.com
> CC: adardis at gmail.com; derek at ihtfp.com; gnucash-user at gnucash.org
> Subject: Re: Tracking Money in Savings Account
> Date: Fri, 17 Dec 2010 10:28:28 -0500
> 
> 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