Monthly savings down to 0 when I actually saved I doing it wrong?

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  • Updated 5 months ago

On a regular monthly basis I am saving & transferring money to a specific stock exchange account. Transferring money to that other account obviously affect my account balances.

Trying to handle it on the Envelope side, I have set up a Monthly Savings envelope, that I fill after each salary has come in and I know how much money I can spare that very month.

When I do the transaction of moving my savings money out of my GoodBudget account, the transaction is done from my Monthly Savings envelope, allowing me to track "spendings" going into savings.

However, handling it this way means that the Monthly Savings envelope is down to 0 when I have done my savings, which should be seen as good thing. But it obviously state that I now need to fill up the envelope.

So, what is the best way to set aside money per month, and see the saved money sum over time? Doesn ́t really savings / goal envelopes work in an opposite way compared to any other envelope, a spending in a goal envelope down to 0 or even negative, should really be seen as a good thing, right?
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Tobias Persson

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Posted 5 months ago

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Alex Park, Official Rep

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Hi Tobias,

It sounds like you're saying that you track the deposits you make in real-life toward your stock exchange account in Goodbudget as "expenses" from your Savings Envelope and bank Account. It sounds like you're asking if this is the right way to be tracking these savings, as it seems a bit confusing to track savings as "expenses" and have your Envelope and Account lose funds even if they're being saved in real-life.

If I'm understanding what you're doing and your question correctly, then yes, this may be confusing but it is the correct behavior. You can then refer to your Spending by Envelope Report later to see what money you've "spent" (but actually saved). As you note, "spending" in this case, and draining your Envelopes, is actually a good thing!

Hope that helps!