How? Can I earmark a savings contribution to pay for a particular expense?
No, itÆs not necessary to do that. Money calculates whether you have enough savings to pay for all of your future expenses, not just one particular expense. For example, if you want to take a vacation in a year, Money will tell you if youÆre saving enough to meet all your goals. You can pay for the vacation with money from any of your accounts.
What happens to earmarked funds on conversion from Quicken?
Money imports Quicken Savings Goals as asset accounts with transactions representing transfers to and from that account. However, if you were saving for items that youÆll buy within a year, you donÆt need to keep those items in your plan at all. Add them as an expense in your budget in the Budget Planner.
What if I plan to change how much I save in the future?
To change information about a contribution:
For example, if you plan to double your 401(k) contribution next year, set an end date to your current contribution to the end of this year, then create a new contribution (doubled in size) and give it a start date for next year.
How do employer contributions work?
If your employer matches your retirement plan contributions, Money tracks this contribution. Follow the instructions of the Contribution Plan wizard for contributing a percentage of your salary, then tell Money that your employer matches.
WhatÆs the difference between matching contributions and profit sharing?
With profit-sharing plans the employer decides the contribution each year depending on the profitability of the enterprise. Matching contributions are guaranteed, based on some percentage of your own contributions.