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A transfer budget tracks your budgeted contributions towards an asset and automatically increases the balance of the asset accordingly.
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Liabilities and assets in PocketSmith are different from your bank accounts in that transactions alone won't affect their balance. Then, you'd want to create a transfer budget to represent/track your contributions to your Sharesies portfolio.
Free budgeting software with bank feeds how to#
You can learn how to add an asset here: Managing your assets and liabilities In PocketSmith, you'd want to create a new asset called 'Sharesies Portfolio', and set the assets 'current value' to $800. Let's say that, currently on Sharesies, your portfolio is worth $800, and you plan to transfer $50 into this each week on Wednesday. You can then create a transfer budget for your regular Sharesies contributions so that the value of the asset increases automatically! An asset (and liability) works a little differently to regular accounts, as assets/liabilities don't contain any transactions. The best way to set up your Sharesies portfolio (or any other investment accounts you might have, but we don’t have bank feeds for) in PocketSmith is by setting it up as an 'asset'. I was wondering if you can track your investments (i.e Sharesies portfolio) with PocketSmith and it gets included with your net worth report?Ī. Thanks, Jason, Dora and all of the team for hosting me for the day! I loved it! It’s not often that I get to geek out on personal finance! If YOU have questions you can contact them directly via the HELP tab on your PocketSmith dashboard. So, below they have answered all of your questions and I’m the first to admit that I’ve learned a thing or two by reading them. Before going to Dunedin I asked my audience if there were any specific questions they had about using the PocketSmith budgeting software and I put those questions directly to the support team in the office. I went because they are so close to where I live and in this online world, that’s almost unheard of, it was too good an opportunity to pass up and I finished my day with them on a real high. In February 2020 I went to Dunedin to spend the day with the PocketSmith team.
Free budgeting software with bank feeds free#
This also reminded me that they have a FREE version of their budgeting app you can use if you need to get a fast look at your financial position. PocketSmith did reach out to me and ask if I could put a link to their Money Worries Poll in this post where they are asking how they can help YOU with your money worries at this point in time as they are wanting to put together a specific and useful list of resources for anybody who needs help with their money which they intend to release ASAP. As you will see in the other post I released today I’ve used this budget to cull any and all unnecessary expenses and we have really had to tighten our belts as a way to get through this COVID-19 uncertainty. I’ve found my ability to budget to be a godsend at a time like this as it has helped me understand our exact financial position and from there I can look at my calendar and project forward as to how much money we are going to need to cover our upcoming expenses.
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You will find the answers to those questions below. Back in mid February - let’s face it that seems like such a long time ago now - I asked users of the PocketSmith budgeting app if they had any specific questions about how to get the most out of the software.