Having a hard time figuring out how to add to my Goal Savings and have that money deduct from my total Account balance. Seems it’s because Goal Savings is part of your account balance, but in my case, I need it to be deducted from my Account balance because it gets set aside to use when I have saved my goal. Hope that makes sense and thanks for any help!
You’re right—the Goal envelope only allocates money from your accounts, it doesn’t move or “hide” it. If you refer to your Unallocated funds you’ll have an accurate idea of how much is available to spend, but if you look at your Accounts it may look like you have more.
Just like a check that hasn’t cleared, an Account may represent money you can’t spend but still see.
If you absolutely need your accounts to look different (ie you’re using the Accounts instead of the Envelopes to budget—which isn’t ideal—I might suggest you add a separate “account” for that money. It’s much harder to balance that way but you won’t see the money you’ve set aside.
The best use of GB IMHO is to work almost exclusively from the Envelopes and only use Accounts to balance and make sure everything is in alignment. Both Envelopes and Accounts show you the same information but in different presentations.
I hope that helps!
Thank you for that information! My issue is that I like to balance the Account balance in GB to my checking account. Just seems faster, but I can definitely use that amount, minus my goal savings and get to the same number. I see now what the issue is and how to work around.
I was in the same boat—and in fact had four separate “savings accounts” in one (home renovation, student loan disbursement, money held for our daughter, and retirement pending investment). If you can get used to only reading your money from the Envelope side (easier said than done!) you won’t be tempted to spend your savings but you can still easily reconcile everything against the bank.
It makes way more sense now that you’ve explained using Envelopes to balance versus account. Thanks again for your help! I really love this app so far!