How I use Savings Goals for Annual expenses

waynes4680

I use the savings goals to track bills that are paid annually or semi-annually. I enter the due date and an estimated amount as the goal. This allows me to add the monthly amounts, and transfer the amount to a savings account. I also set up so the amount is deducted from the balance so I can easily see how much the savings balance is unallocated.

When I pay the bill I delete the goal and create a new one, instead of doing a withdrawal from the goal. I do this because the transactions in the register are not actual expenses and thus are deleted. It keeps the register clean. It also rotates the goals on the Savings Goals tab so the next one due will be on top since Quicken's default sort is date created.

I budget a transfer in/out of the savings each month, then the actual expense when it is due.

Just wanted to share how I use Savings Goals.

Quicken Anja

Hello @waynes4680,

Appreciate you sharing your workflow—that’s a great way to use Savings Goals for annual expenses, and I’m sure other users will find it helpful!

Thank you!