Why does transfer from checking to TFSA savings account not showing up in "activity"?

I just set up a new budget with a starting account balance in TFSA. When I transferred a weekly amount from checking to savings TFSA account in YNAB, the transfer did not allow me to assig a category. But I did need to budget for this spending in my budget. Because I could not assign the categories the TFSA category in the budget now looks off showing that money has not been "spent". How will this work in long term with spending not recognized in the budget? How can I capture the spending in the budget?

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  • The money hasn’t been spent yet, it just moved accounts 

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  • If the TFSA is an investment account dedicated to long-term goals, it's probably best to create it as a Tracking account rather than a savings account. That way you don't have to account for principal fluctuations in your budget.

    If the TFSA is a cash account, I'd keep it as-is!

  • Think of the TFSA as a longer term savings account. I would keep it on budget because it is fairly liquid and you can withdraw it at anytime if you wish (I am Canadian as well). Thus, if you treat it as a budget account, there is no "spending" for it but simply a transfer to another location. You budget the money in it towards a savings category. 

  • Hello, Slate Blue Lion

    I would encourage you to not include your TFSA as an on-budget account, and if your TFSA investments are invested in the market, I would definitely not include them as on-budget. 

    Most of my TFSA funds are invested in the stock market, so those are definitely long-term investments. I also have a TFSA where I build up funds in the highest interest I can get (currently GICs) for planned large purchases I expect to make in 3 to 7 years (e.g. a replacement car). Although I selected investments that are fairly stable and guaranteed for these planned big purchases, I really don't consider those funds to be liquid enough to be on-budget and sloshing around in my categories for spending.

    I use a "next car purchase" category or my "investing" category for all the funds that I plan to contribute to registered accounts (RRSP and TFSA) and those funds show up as "spent" in my reports when I move them from my on-budget accounts to those registered accounts.

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