Here is a video showing you how to do this!
- When you are moving money between your accounts, you will see more than one transaction in Monarch
- Examples include money going from checking to savings, money going from checking to a loan, or money going from your bank to a credit card
- You will see one transaction registered by the initial account (often checking or your bank) from when the money went out, and one transaction registered by the destination account (often your savings or loan/ credit card) from when the money was deposited
- You want your budget to ignore the initial part of the transaction, so set the category to Transfer. Do not assign it to a goal.
- The destination transaction is the one that you want to count in your budget and toward your goal.
- You can give it an assigned category if you'd like, but I prefer to just use Transfer or Credit Card Payment
- Regardless of the category you select, you do not want to include the transaction amount in your budget anywhere outside of the goal, so if you use a category other than Transfer or Credit Card Payment, do not include the amount in your budget for that category
- Open the transaction so you can edit it
- Just beneath the category dropdown, you will see a goal dropdown
- Select the appropriate goal and you're all set!
- If you do not see the goal you need, this indicates that the account the transaction is linked to is not the same account as the transaction linked to your goal! Make sure you have the right transaction open and make sure your goal is linked to the correct account.
- You can give it an assigned category if you'd like, but I prefer to just use Transfer or Credit Card Payment
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