I need personal finance software that does virtual account splitting?
Basically I have 3 bank accounts that i keep my money in, but i need a software that knows that but also can pretend i have a lot of accounts, for example: Lets say i have $1000 in the bank, but i want $300 of that to be for a car payment every month, the software would put it in an account labelled "Car Payment" and deduct it from the "available money" in the main account (although it still shows the total). Now even if i spend less moeny on my car payment than $300 the remainder will will remain in that account to be used later. So basically every month i get my pay check and it automatically splits all the money up to different accounts so i know how much money I have to spend on different things. Anybody get that it’s kind of complicated. Quicken and Ms Money just aren’t doing it, quicken is close because you can do financial subaccounts, but theres no way to tell how much moeny there is left to allocate…..
Quicken is probably the best software out there. If you’re not pleased with that I doubt you’ll find anything. Good luck.
Quicken is probably the best software out there. If you’re not pleased with that I doubt you’ll find anything. Good luck.
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Quicken will tell you how much you have left before your next paycheck. That’s about the only one I know.
You "schedule" all your payments. You "schedule" your paychecks. Then when you go to the "bill and income reminders" tab at the bottom of your checking account detail page, it will say "lowest balance forecast before xx/xx/xxxx is $xxx.xx". The date it uses is the date of your next scheduled deposit. So that "lowest balance forecast" is the amount of money you have to spend on things you didn’t forecast.
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You can do something a bit similar to what you describe with the YNAB (You Need A Budget) program. It’s an envelope-based personal finance software which lets you set up a budget with your monthly income and expenses in different categories (e.g. car payments). Once you’ve set it up, each month it will keep track of your income and expenses. If you should have money left over one month in one spending category, then it rolls over to the following month in that same category. There’s a free trial available and a 10% discount on at the moment here: http://www.financesoftwarestore.com/ynab-pro.html (this is an affiliate link).
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