If you use Mint or Quicken, how do
Apr 5, 2015, 7:49 am
#5
Original Poster
Join Date: Oct 2014
Posts: 201
So looks like everyone is sub-categorizing these under the main category "Transfers".
Before I began MS, I had the category "Transfers" religiously balance out to Zero. Now, it's always off but obviously due to the fact that there are fees associated with MS. For some reason, now transfers is always a negative $4,000 to $5,000. I know there are balances still in transfer but I just never get to less than $1,000. I am not sure why.
Before I began MS, I had the category "Transfers" religiously balance out to Zero. Now, it's always off but obviously due to the fact that there are fees associated with MS. For some reason, now transfers is always a negative $4,000 to $5,000. I know there are balances still in transfer but I just never get to less than $1,000. I am not sure why.
Apr 5, 2015, 8:53 am
#6
Join Date: Feb 2014
Posts: 825
I create a "checking account" for each item, like redcard for example.
I then use transfers (for example from [barclay] to [redcard]) to track the funds moving. This also has the nice bonus of not affecting the tracking of income and spending in quicken.
For general gift cards that I might use for other purposes, I have a [gift cards] checking account.
I then use transfers (for example from [barclay] to [redcard]) to track the funds moving. This also has the nice bonus of not affecting the tracking of income and spending in quicken.
For general gift cards that I might use for other purposes, I have a [gift cards] checking account.
Apr 5, 2015, 9:11 am
#7
Join Date: Feb 2013
Posts: 291
I create a "checking account" for each item, like redcard for example.
I then use transfers (for example from [barclay] to [redcard]) to track the funds moving. This also has the nice bonus of not affecting the tracking of income and spending in quicken.
For general gift cards that I might use for other purposes, I have a [gift cards] checking account.
I then use transfers (for example from [barclay] to [redcard]) to track the funds moving. This also has the nice bonus of not affecting the tracking of income and spending in quicken.
For general gift cards that I might use for other purposes, I have a [gift cards] checking account.
Apr 6, 2015, 7:42 am
#8
Join Date: Jul 2014
Posts: 369
I have an account for each type of product I use. I have an account for Serve, USB Buxx, Gift Cards, chime card, paypall, etc. Sometimes I will have 5 accounts for one product. I never new about sub accounts, I will have to research that.. I also have an account called manufactured spending, which I put transactions that disapear for a few days. Like when I evolve money to my bank account, I loose the funds for up to a week. I balance all the accounts daily. I ahve an expense category for any transaction costs called miles. I have no profit account, I just make sure never to spend more than .007 per mile and make sure I only use the miles for value greater than .021. I know whatever costs I have I have at least doubled it in profit (more like 4 or 5 times)
Apr 6, 2015, 1:44 pm
#9
Original Poster
Join Date: Oct 2014
Posts: 201
Not sure if this is a good method, but I put all MS activities within Transfers (I created a sub-category called "Manufactured Spending"). Transfers do not impact trends or expenses. Every few months, I roughly estimate how much of the total are fees and how much are true cash coming in and out, exclude and hide from mint and only keep the amount associated with fees in some expense category.