Best way to track Savings Budget/Transfer?

We are curious on the best way to track a transfer to Savings as a budget item with a goal.  Currently, we have budget category called Emergency Fund with a goal amount.  We then do a transfer from our main account to a savings account but it shows Category not needed.  Subsequently, the transaction doesn't get recognized for that budget category.  What is the best way to track this so we can set an amount and it gets registered?

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  • You save to your Emergency Fund category when you assign dollars in the budgeted column (left) on your budget page. The account that you store the money in is irrelevant to the budget.

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  • You keep only what money you need in the short term in your checking account. After all, you're going to get paid again, and that will fill it up again. There's no need to tie moving money between accounts to any particular categories.

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  • Every penny budgeted to a category is saved until you spend it. Savings is deferred spending, by definition. Transferring to another account with a higher rate doesn't make it any more saved.

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  • Hi Orange Saxophone !

    When you have a moment, give this a read: The Relationship Between Your Budget & Your Accounts.

    Budgeting funds towards your Emergency Fund category is how you put money aside for your Emergency Fund. Each month, you'll budget more towards that category and the Available amount will tell you how much you have Available in your Emergency Fund. 

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    • Faness thanks for the reply - so we do what we are doing:

      1. add more budget to the Emergency Fund category
      2. transfer the money to the account
      3. watch the number in the budget to the Emergency Fund category increase every month

      I don't see how this enables us to account for the money that is in there already and keep it tracked easily.

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      • satcook
      • satcook
      • 2 wk ago
      • Reported - view

      Orange Saxophone what jobs do you want that money to have?  Make categories for those things and budget to them

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      • PhysicsGal
      • Nerdy female homo sapien
      • physicsgal
      • 2 wk ago
      • Reported - view

      Faness I was just going to put that link there, it's the answer.

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  • Orange Saxophone said:
    I don't see how this enables us to account for the money that is in there already and keep it tracked easily.

     You have to categorize the original amount! Sounds like you already categorized it elsewhere.

    1. Categorize your existing savings to your Emergency Fund.
    2. Categorize future savings to your Emergency Fund.
    3. Watch the Emergency Fund savings grow every month.

    That's it. Don't get hung up on accounts. I have my EF and more in my savings account. The only purpose of the savings account is to get more interest on your funds. YNAB doesn't care where the funds exist.

    Like 4
  • Orange Saxophone said:
    and keep it tracked easily

     The category available tells you how much you have saved for an Emergency Fund at any time.

    Like 1
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