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Moneywell budget software reviews5/6/2023 There are many reasons why you would set a different repeat setting for filling an event than you have for the event itself. MoneyWell will make sure there is money set aside for your "Wish List" bucket waiting for you to collect enough for that special purchase. Simply set up an event with a date and leave the repeat set to "Doesn't Repeat." Then set the fill recurrence to weekly, monthly or however often you decide. You may want to save up for a special purchase, like a trip or a new car, and want to set aside money for that event. One-Time EventsĮvents may also be set to occur just once. In the Starbucks example above, you'll see the custom repeat is set to "Every week on Monday, Tuesday, Wednesday, Thursday and Friday" but the fill happens every "Week." This tells MoneyWell to make sure you have money for these weekday trips at the beginning of the week. It's completely up to you how you use these two settings. There is a "Repeats" setting that you can set to "Every Year" and a "Fill Timing for Event" setting you can set to a more frequent recurrence, like monthly or on the same timing as your paycheck. MoneyWell gives you a way to handle this. You may have an annual tax bill or want to save up for birthday or Christmas presents throughout the year. There are some events that just don't recur very often. MoneyWell revises your budget for you without you having to guess the monthly amount or breaking out a calculator. But with events, when the price of gas goes up you only adjust the amount on the "Fill gas tank" event. Now think about making revisions: If all you see in your Automobile budget is a $350 monthly planned amount, it might be hard to revise that. Think about that for a moment: Instead of pulling up a spreadsheet to figure out what amount you need in each budget category, you simply enter individual events in MoneyWell. By adding three events for these with their own amounts and repeat timings, MoneyWell can calculate a total for your budget and fill this bucket as needed. You may need a weekly event for filling your gas tank, another to cover oil changes every three months, and still another for new tires annually. When you add events and assign them to your expense buckets, you're telling MoneyWell how much money should be moved from income to expense buckets when you click Fill Buckets.įor example, your "Automobile" bucket needs to be filled with different amounts for different expenses. Events ExplainedĮvents are scheduled bucket transfers. When you click Fill Buckets, MoneyWell reviews your events to see how much should be put in each bucket and presents you with a Fill Buckets panel to review and modify your fills. You can assign as many amounts as you'd like per bucket and MoneyWell will tell you what your total planned amount is for any period. MoneyWell's spending plan uses events instead of a single amount per bucket to calculate your planned amounts.
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