June 12th

Yes, set up a saving envelope, and put the funding of it in your plan. Do you track the account holding the savings in MoneyWise? If so, then the balance will build in that envelope as your savings grow (less any expenditures, of course).

June 12th

Great question! Jim is correct, you will want to create a saving envelope, but how you plan/fund/transfer money depends on if the savings account is included in your Available for Funding (ie the savings account is toggled on for Envelopes ). If your savings balance is not part of your envelope funding, then create a plan/funding for your monthly contribution, then when you actually transfer the funds, assign the transfer transaction to the savings envelope, which will bring the envelope balance to $0. If your savings account is included in your available for funding, you will want to plan/fund the envelopes you are allocating your savings balance to (gifts, travel…). Because the savings account is toggled on for Envelopes you will actually see both sides of the transfer in the system. Assign both transactions (one from checking and one to savings) to your savings envelope. If properly transferred the savings envelope should have a $0 balance because it simply holds the offsetting transactions. I hope that helps! Let us know if you have any questions as everyone’s situation is unique sid your we’d be happy to help you get it set up to work best for you!
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