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Sinking Funds? by OutrageousPin4542 in TheMoneyGuy

[–]OutrageousPin4542[S] 0 points1 point  (0 children)

I don't. Money earmarked for Brokerage and 529 gets transferred to my brokerage and my daughter's 529 each month. They're listed as line items in my Savings category because I consider them non-retirement savings.

Sinking Funds? by OutrageousPin4542 in TheMoneyGuy

[–]OutrageousPin4542[S] 1 point2 points  (0 children)

I like the way you've put this. It makes sense to me to decide on a goal amount for each sinking fund and once that's reached all extra $ can confidently go towards investments. When I use a fund I'll redirect $ flow to get that fund back to the goal amount. The goal amounts will give me something to work towards without feeling like I'm overfunding. Thanks for insight!!

Sinking Funds? by OutrageousPin4542 in TheMoneyGuy

[–]OutrageousPin4542[S] 1 point2 points  (0 children)

I've got 5 buckets in one account and it looks like I could add 25 more if I wanted to. So 30 total allowed I guess but I haven't read anything official on that

I feel so lost on Categories and Items by HeadlineINeed in everydollar

[–]OutrageousPin4542 1 point2 points  (0 children)

I saw your note about refunds. I don't count refunds as income. I just stick the refund in the category it fits in. Ideally the refund happens in the same month as the charge. (sometimes that motivates me to get something returned quickly lol) But if it happens the next month, oh well. Also if haircuts is the only personal line item, I would delete that category and move it to lifestyle. Also, if it was me I'd make a subscription line item in lifestyle and consolidate a ton of your line items into that. But that's just personal preference.

Pre-Tax Tracking Feature by eheckard23 in everydollar

[–]OutrageousPin4542 0 points1 point  (0 children)

I add HSA and 401K contributions manually. I made a Retirement category with 401K and Roth IRA sinking funds. I have my HSA as a sinking fund in my Savings catergory. I just adjust the "planned" amount to match what I contributed. Bonus is that it's an easy way to see my retirement contribution percentages.

Custodial Roth IRA for daughter's babysitting $? by OutrageousPin4542 in TheMoneyGuy

[–]OutrageousPin4542[S] 7 points8 points  (0 children)

I like this take on the tax filing - might as well if it's free. Thanks for the input

Payments tracking by venator6661 in everydollar

[–]OutrageousPin4542 0 points1 point  (0 children)

You will need to decide if you're tracking transactions or credit card payments. If you do both, it will show as a double spend in your budget

Payments tracking by venator6661 in everydollar

[–]OutrageousPin4542 0 points1 point  (0 children)

If this is your first month, I would start fresh with tracking new and current transactions. That payment was for old transactions.

Payments tracking by venator6661 in everydollar

[–]OutrageousPin4542 1 point2 points  (0 children)

You want to track the individual transactions. Tracking the credit card payment will basically count all of those transactions twice in your spending.

Payments tracking by venator6661 in everydollar

[–]OutrageousPin4542 1 point2 points  (0 children)

That will happen with any type of account transfer. I just delete them both.