Hello,
Each month I plan how much I am paying on my credit cards and how much I am transferring into various investment accounts. I see no way of including this in the Spending Plan without making a one-time Planned Spending Expense and using a custom category, or going through the tedious process of creating a future-dated transaction in Other spending.
The way I understand the Spending Plan is that it is accounting for cash in and cash out. Maybe my understanding is wrong, but the way Planned Spending is currently implemented, I cannot plan my spending.
Ideally Planned Spending should allow me to input transfers like credit card payments and investments. I know the accounts where the money is coming from and I know the accounts where the money is going to. I'd like to be able to create the following:
- Planned Spending for transfers
- Ability to designate a funding account and a recipient account
This is an easier alternative than
http://help.simplifimoney.com/en/articles/5142302-how-are-credit-card-payments-handled-in-the-spending-plan
for planning month-to-month credit card payments as the suggested method of tracking credit card transfers either requires you to have already made a payment (negating the idea of a plan), or using a projected amount.
I recognize that this probably has some complications... it would change the way the Other spending category is calculated. Instead of summing up the transactions on credit cards, Other spending would have to take into account the Planned credit card transfer.
I also recognize there are workarounds like
and
. I think this should be a first-class feature instead of a workaround.
P.S. I think this is very useful for folks who do not pay off their CCs in full each month, and folks that treat their CCs like an extension of their checking account. Ultimately I want the Spending Plan to tell me how much cash I'm going to have at the end of the month.
