How do I budget for large one time expenses, such as the purchase of a roof with savings money?

I am planning to use my savings for a large purchase - a roof installation. How do I include that in my budget? I have Quicken for Mac.
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Best Answer

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    edited December 2020 Accepted Answer
    I am not sure of your intent here (other than saving for a roof.)

    The technical answer is to have a budget category with that expense as goal in the month you expect to have the place re-roofed.

    But, I suspect your real question is how to "put away" $ to prepare for the large expenditure. If so, Quicken for Mac doesn't support savings goals at this time, so you would have to manually save up money in the source account.

Answers

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    edited December 2020 Accepted Answer
    I am not sure of your intent here (other than saving for a roof.)

    The technical answer is to have a budget category with that expense as goal in the month you expect to have the place re-roofed.

    But, I suspect your real question is how to "put away" $ to prepare for the large expenditure. If so, Quicken for Mac doesn't support savings goals at this time, so you would have to manually save up money in the source account.
  • Thanks for your response. I do miss the savings goals.
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