I received these questions from a new Inzolo user. Posting them here as I suspect other will benefit from the discussion. Answers in bold
1) How do you deal with bank to bank/account to account transfers like Smartypig or moving money from one checking to a savings account? I was just going to delete thee transaction. – This was a problem for me too & I ended up going with only our main checking account linked to Inzolo. This was I see the withdrawals to Inzolo and can track them in a savings envelope. Then when the deposit comes back in I can put it in the appropriate expense envelope. Ex Property Taxes.
2) This doesn’t look like it has the same net value features as mint. Did you even add your investment accounts or mortgage accounts? I was thinking it only really needs my bank allocations and our one credit card. It is not designed to track investments at all. I have savings envelopes to track contributions to investment accounts but only use Inzolo for household spending. We only have the debit card and that flows through the main checking. If you have a credit card I would add that to Inzolo so you can categorize spending and create a Transfers envelope that you can track the transfers to the card
3) I used the link from the Kensington site there was no notification that Kensington was associated with the account. Is there a way to verify they are associated? If you used the link it KCC will get 40% of your membership fees. I can only see the first letter of your user ID for security but below is the report of our affiliate activity. I suspect you can find your signup date.
4) My wife has a fluctuating paycheck +/- about $200 depending on hours. I can automatically allocate my paycheck but wondered what you would recommend for hers. I would allocate a lesser amount on hers and maybe leave $300 or more unallocated. Then when the check comes in use the memorized allocation for her check and manually decide where to put the remaining funds. That is what we do with my wife’s check as it fluctuates by roughly the same as yours. The save allocation plan icon is just below the allocation button. This works really well.
Dave Smith is part of the KCC finance staff and a Dave Ramsey Certified Coach.