Help - loan repaid as cash!
Due to Christmas followed by a long period of illness, I left my budget for a number of weeks and am spending many hours trying to sort it out. As a result my head hurts but I am nearly there.
Perhaps because I have spent too much time looking at my budget, but I can't work this out. I lent my Mum some money a couple of months ago which went into my loans and expenses category. She repaid me in cash while we were out at dinner a couple of months ago and I completely forgot about it and spent the money - not sure what on just day to day random spending - it was only a small amount.
How do I account for this in my budget?
Hello, MiniMum ! Hope you're on the mend.
Daily Impressions 's suggestion will work.
Here's another method that might be a little simpler, since you don't remember exactly what you spent the cash on.
Are you looking to replenish the Loans category in anticipation of giving another loan? If so, move money from some of your daily spending categories (approximating what you spent the cash on) to the Loans category.
If you're not looking to replenish the Loans category, you don't actually need to do anything in your budget—other than perhaps reconciling your cash account to make sure it equals your current cash on hand.
It should not be an issue then to reallocate and avoid the monthly fight with the tool. (If you put $X in Mum's category and the category is less than $X, you are owed. Pretty simple.) Your call, of course.