Transfer unhidden to pay for vacation

UrsulaA

I successfully unhid one side of a transfer and made it count as income in the spending plan. I used the transfer from my checking account to my credit card to pay for a vacation hotel reservation. Thanks to @RobWilk, @Flopbot and @DannyB, your posts helped me find how to use this Simplifi feature.

I saved for my vacation without a savings goal and did not want the extra spending to count against me on the spending plan. 👍️

DannyB

@UrsulaA

That's great. I've gone the route of using a savings goal and excluding the expenses when they come in.

I'm going to guess that the vacation funds were already in savings before you started using Simplifi so this was money that had not been included in Simplifi to begin with. I wonder how this would work for money saved and accounted for with a SG? I ask, because the "logic" I follow is that with monthly contributions to an SG I am in essence paying for my goal as I go. When the time comes to actually spend the money, I have already accounted for it in Simplifi in advance and thus the expenses need to be excluded at the time they come in.

It's the same basic logic as excluding credit card payments from the Spending Plan and reports since I'm simply paying for the charged expenses in arrears so to speak.

What do you think?

UrsulaA

Yes, the vacation funds were already in my checking account.

The transactions were as follows:

$597 hotel deposit charge to my credit - shown in spending plan and reports

$597 transfer in to pay the credit card - shown in spending plan as income, excluded from reports. I already made that money, no need to count income twice in reports.

$597 transfer out to pay the credit card - hidden

I also agree with your savings goal logic, I will need to create a savings goal if I was saving the money as I go instead of having it already set aside.

Flopbot

Congrats @UrsulaA ! It’s fun when it starts clicking!

UrsulaA

It is fun 😊. Simplifi clicks better if you keep an open mind to it. As a former Minter, I had to shift my mindset.