Tracking Money in Savings Account

[Derek Atkins]

Wayne Bird <wrbird at hotmail.com> writes:

> Derek,
>
> So, since you don't use the budget feature, are you using GnuCash to just
> track your finances, i.e., just to know where you money goes?

Pretty much, yes.

> Would you use subaccounts for yearly expenses, i.e., tax payments, insurance
> payments, and allocate some of your weekly paycheck into those subaccounts, so
> when the time comes you know you have enough to pay?

Well, indirectly I do.  For example, I have an escrow account with my
mortgage to collect for insurance and tax payments.  So effectively,
yes, I do.  Do I use subaccounts for ALL my purchases?  No, not really.

Then again, I don't use GnuCash's Online/Import features, either.

> Wayne

-derek

>> From: warlord at MIT.EDU
>> To: wrbird at hotmail.com
>> CC: gnucash-user at gnucash.org
>> Subject: Re: Tracking Money in Savings Account
>> Date: Fri, 17 Dec 2010 11:15:08 -0500
>>
>> Wayne Bird <wrbird at hotmail.com> writes:
>>
>> > 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?
>>
>> No, I do not.
>>
>> > Wayne
>>
>> -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
>

-- 
       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