I am a recent convert to Fidelity and switched from Mint to FV. I know every software has its shortcomings and can't meet everyone's individual needs. But my biggest need is to track my spending, as it will help me understand my spending/saving patterns and project my future/retirement expenses. So can experts here help me with the following:
1. How do people categorize the transfers between their bank accounts and Fido accounts? Is there a way so it don't count as spending as some of them current do? Right now, money going to my 529 and brokerage count as spending ("savings>investment saving/college savings").
2. In general, how do credit card payment work? I see the negative amount go out of my checking, same positive amount go into the credit card, and my networth seems to be correct. So are there certain categories that doesn't count toward spending? I ask because occasionally the credit card payment is categorized differently, and I wonder if my manual category will throw off the accounting.
3. If I get reimburse/refund for certain things, should I categorize it the same as the expense? E.g. I paid a dinner for a group, and got some money back from friends. Or I buy a flight for work and get reimbursed later.
4. I have a Venmo account linked to my checking account. I see some transactions showing up twice (one for Venmo and one for bank). Will that double count these spendings? If so, I do I fix that?
If there's already a post on this, I appreciate a link.
1. How do people categorize the transfers between their bank accounts and Fido accounts? Is there a way so it don't count as spending as some of them current do? Right now, money going to my 529 and brokerage count as spending ("savings>investment saving/college savings").
2. In general, how do credit card payment work? I see the negative amount go out of my checking, same positive amount go into the credit card, and my networth seems to be correct. So are there certain categories that doesn't count toward spending? I ask because occasionally the credit card payment is categorized differently, and I wonder if my manual category will throw off the accounting.
3. If I get reimburse/refund for certain things, should I categorize it the same as the expense? E.g. I paid a dinner for a group, and got some money back from friends. Or I buy a flight for work and get reimbursed later.
4. I have a Venmo account linked to my checking account. I see some transactions showing up twice (one for Venmo and one for bank). Will that double count these spendings? If so, I do I fix that?
If there's already a post on this, I appreciate a link.
Statistics: Posted by hedge_hog88 — Wed Jun 19, 2024 6:28 pm — Replies 0 — Views 124