Comments on: Envelope Balances and Account Balances https://goodbudget.com/blog/2010/06/envelope-balances-and-account-balances/ Budget well. Live life. Do good. Wed, 01 Apr 2020 18:50:34 +0000 hourly 1 https://wordpress.org/?v=6.2 By: Paul https://goodbudget.com/blog/2010/06/envelope-balances-and-account-balances/comment-page-1/#comment-1358 Fri, 18 Feb 2011 21:23:36 +0000 https://www.goodbudget.com/?p=148#comment-1358 cmchien,

Actually, it does. I was thinking something similar in order to get started. I have two categories in the budget that can be held off until funded, and that should allow me to start.

Thanks,

Paul

]]> By: cmchien https://goodbudget.com/blog/2010/06/envelope-balances-and-account-balances/comment-page-1/#comment-1357 Fri, 18 Feb 2011 19:33:30 +0000 https://www.goodbudget.com/?p=148#comment-1357 Paul, thanks for the comment.

Actually, the “agreement” that we suggest is that Account balances equal Envelope balances. Even though your budget requires $6,000, you only have $4,000 (before tax refund!) so you would only fund your Envelopes to $4,000. You would leave some of them partially or completely unfunded, which is their true state.

Your second item of sloppy transactions still works. In the sense that if your wife recorded $40, EEBA would take $40 out of the envelope and the account at the same time. When you reconciled your bank statement later on, you would adjust it to 41.50 at which time an additional $1.50 would be deducted from the envelope and the account balances.

Does this make sense / do you have questions that I am not answering?

]]> By: Paul https://goodbudget.com/blog/2010/06/envelope-balances-and-account-balances/comment-page-1/#comment-1356 Fri, 18 Feb 2011 18:36:29 +0000 https://www.goodbudget.com/?p=148#comment-1356 Hi. I am about to purchase your premium product. My problem with the needed agreement, is that currently my budget is not fully funded. My budget requires say 6,000 and my account holds 4,000. Now, I am getting a tax refund soon, so should be able to fix that. I am currently using Quikbudget on the Palm with Ultrasoft Checkbook. QB can write to my Checkbook accounts, and my transactions in QB can have an account, or can not have an account. Then I have a view of all of my accounts in US Checkbook that allows me to quickly see if I am funded or not. This also allows for a little sloppy transactions – wife says 40 bucks at wegmans, and then later I put a seperate transaction for 41.50 in the checkbook register. I am willing to change. just have to think about it. Perhaps you could update this story for people like me, who are trying to come over to your side, and need to think through the implications. Or, I could keep good notes if you are interested. I know palm is dead, and I need a new way to manage, and I really am hoping I can use EEBA.

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