Savings account tracking

johnjohn61

In a single savings account, how do you assign amounts for different items? Say you have $10,000 total in the account, but you wish to designate $6000 towards a new car and $4000 as a rainy day fund.

jacobs

Quicken Mac is designed to mirror real-world accounts, so if you have a savings account with $10,000 in it, that's what Quicken reflects. Quicken does not have goal-based or "envelope budgeting", where you designate what you're saving or or intending to spend money on. To do what you're describing, you'd need to keep your goals or allocation in a separate spreadsheet or text document and update it periodically as your numbers change. Or you could create separate but bogus savings accounts in Quicken to allocate the money in your real savings account — but then you won't be able to also track and reconcile your real savings account in Quicken.

johnjohn61

jacobs, thank you for your prompt response.

jacobs

Quicken Mac is designed to mirror real-world accounts, so if you have a savings account with $10,000 in it, that's what Quicken reflects. Quicken does not have goal-based or "envelope budgeting", where you designate what you're saving or or intending to spend money on. To do what you're describing, you'd need to keep your goals or allocation in a separate spreadsheet or text document and update it periodically as your numbers change. Or you could create separate but bogus savings accounts in Quicken to allocate the money in your real savings account — but then you won't be able to also track and reconcile your real savings account in Quicken.

johnjohn61

jacobs, thank you for your prompt response.