I have set up a debt plan and a budget.
The debt plan is simple, since I have only a mortgage.
For simplicity, let's say my required mortgage payment is $1000 a month.
I add the mortgage account and choose to base my plan on 'what I want to pay
each month'. Since I want to prepay my mortgage, I then tell the Debt
Planner that I have $2000 for my 'monthly allocation for debt' ( $1000
required + $1000 pre-payment). It appears that everything sets up fine. My
payment appears in the monthly Bills and Deposits schedule. The split on
the payments shows the extra $1000 as a "Principal Transfer", along with one
calculated interest and one calculated principal payment. This makes
perfect sense to me.
Now, I goto the Budget Planner. On the "Enter your expenses" screen, I can
see that the Budget Planner has allocated $2000 for my "Debt Reduction
Planner" entry under the "Debt" budget group. Again, everything seems fine
since I told the Debt Planner that I had $2000 for my 'monthly allocation
for debt'.
The confusion is when I looked at the "Review your current budget status" I
noticed that my 'Special : Debt' category has an "Actual" of $2000 and a
"Budgeted" amount equal to the PRINCIPAL payments only. That is, the
interest paid is ignored in the "Budgeted" amount.
Is there anyway to have it include the principal and interest in that
total... because it says I'm under budget for that category when I review my
budget. The amount that I'm under budget is EXACTLY the interest amount
paid to my mortgage.
Thanks in advance,
T