Budget

[[email protected]]

When setting and monitoring my budgets, prior to using iCash, I liked to set aside a portion of my savings account for specific purposes. i.e. Most of the money was there for general expenditure, but I like to mark off a sum for my computer upgrades and another for my photography equipment upgrades. I would then add an amount to each of these monthly to allow for buying new equipment periodically. I don't really want to set up separate savings accounts at the bank for each of these purposes. With iCash, I can't see a way of leaving this money where it is, all in one account, but marking off portions for specific purposes. Is this possible, or is there a work around?

 

[stanbusk]

It is not possible but how would you like this to be done?

 

[[email protected]]

perhaps the simplest implementation would be to have an ability to sub-divide the money in bank accounts into a series of "pots" and be able to add deposits to, and deduct expenses from each pot. The way I have done it using Excel in the past is to have an account with say £5000 in it, and an adjacent column shows that of that £5000, £2000 is being saved towards a new computer, £500 towards an new printer, and the rest for sundry replacements when things break. I could then save say £20 per month towards the computer, and £10 per month towards the printer, and £5 towards sundry replacement, making £35 per month going into that one account althogether Then when I buy a new printer, the money is taken from that account, and is shown as a reduction against the £500 portion of the £5000. If I don't buy anything, obviously the £5000 would grow by £35 per month, and each pot by the amount mentioned above. There are probably other ways of doing it, but the basic desire is to be able to save for a number of separately identified reasons, but keep the money in the account where it attracts the best interest.

 

[stanbusk]

I don't know right now how it could be done but I take note of your request.