Budgeting for savings

[Joshua_Horvath]

Hello everyone! It’s my first post here. I am using manager.io for personal finances, which I know is overkill, but I enjoy it since I’m majoring in accounting. Anyways, is there a way to budget for savings or budgeting an inter-account transfer? Any help would be appreciated!

[eko]

In the search box at Guides | Manager type Budget.

[Tut]

Also maintain awareness of the fact that budgeting involves looking forward. Accounting is about looking backwards. Manager won’t prepare a budget for you. You can enter an existing budget for comparison with actual results.

[Joshua_Horvath]

When I searched in the budgets tab there only options for income and expense accounts. How would you recommend doing this then? Thanks for the heads up @Tut!

[eko]

@Joshua_Horvath

budgets tab there only options for income and expense accounts.

I think you miss some basic accounting knowledge, as this is supposed to be. You are advised to consult What is a budget? | AccountingCoach

[dalacor]

I am not sure if this is relevant, but I think this concept is what you are asking about albeit for savings.

Budgeting Question

This is for my personal finances. I pay my water bill every three months. The amount is around £60, so effectively £20 a month. I also have expenses such as Car Service once a year. Is there any way to “spend” the money without actually spending it. So in my budget it shows £20 a month spent on Water even though I have not actually spent the money yet. Obviously I want my bank balance in Manager to match exactly what it is on my actual bank account. Can this be done?

[AJD]

@eko has recommended that you read the Guide relating to Budgets and I would recommend that you also read the Guide relating to Forecasts.

[Joshua_Horvath]

Thanks everyone! I will look into everything!