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Old 09-28-2006, 01:48 PM
Dick Watson
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Posts: n/a
Default Re: Paycheck Gas Mileage

(second try to send--munged to hopefully fake out the spam filters at
msnews.microsoft.com)
---
I think we may have some mixed concepts about Money and, perhaps, mileage
reimbursements here.

Money treats all money in any cash/non-investment/non-retirement account as
equal. Once you deposit the reimbursement it's just there. It's like a dime
in your pocket. How it got there loses meaning once it's there. Your plans
for what to do with it are disassociated from the dime itself.

So, you categorize the reason for the inflow as Automobile:Gasoline. All
that does is help Money recognize that you've spent less on this category in
the period and have more available cash as a result. The Money budget lets
you count this as being available toward a savings goal, but that's just
what it reports; it doesn't change the fact that the money is sitting in the
account you deposited it in. Given all of this, there is no automatic way
for Money to do anything with this money. It's just there. In summary, what
you are doing is one perfectly reasonable approach to treating the
reimbursement, but there is nothing more that can be done or needs done.

As to this premium of the reimbursement amount over the cost of the gas
being "f_r_e_e m_o_n_e_y" that you can "save"--consider that the cost of
driving your vehicle includes maintenance, insurance, depreciation (what you
bought it for minus what you ultimately get when you dispose of it), license
fees, etc. If you add up all of the vehicle costs for its life with you and
divide it by the number of miles you drove it, the cost per mile will surely
be a whole lot closer to the reimbursement than just the gas cost.

"DaveWW00" <david.westendorf[at]gmail.com> wrote in message
news:1159324423.172334.296930[at]m73g2000cwd.googlegroups.com...
- quote -

> I recieve a varying amount of gas mileage reimbursement on each
> paycheck. What i do now is take the mileage part of the check and put
> that towards the gasoline category in my budget so that it cancels out
> part of it. However, since the mileage rate i get paid is more than it
> actually costs me per mile i get paid more than it costs me for all the
> gas in a month.
> I would like to take part of the gas mileage pay and put that towards
> gas then take another part and put that towards a savings goal
> (maintenance fund/new car fund). Is there an automatic way to do this
> or if not how do i do this manually?



 
Old 09-27-2006, 05:38 PM
Eric
Guest
 
Posts: n/a
Default Re: Paycheck Gas Mileage

Hello Dave,

I would think that it would be easiest to transfer the whole amount of gas
mileage reimbursement to the account in which you also deduct the actual gas
mileage-costs. (the amount varies, so you cannot transfer the right amount
to two different accounts from within your paycheck) You can then transfer
any credit-amount in this account towards an account as you described
yourself. Maybe this would even work with two bankaccounts you have online
with the same bank.

Eric
"DaveWW00" <david.westendorf[at]gmail.com> schreef in bericht
news:1159324423.172334.296930[at]m73g2000cwd.googlegroups.com...
- quote -

> I recieve a varying amount of gas mileage reimbursement on each
> paycheck. What i do now is take the mileage part of the check and put
> that towards the gasoline category in my budget so that it cancels out
> part of it. However, since the mileage rate i get paid is more than it
> actually costs me per mile i get paid more than it costs me for all the
> gas in a month.
> I would like to take part of the gas mileage pay and put that towards
> gas then take another part and put that towards a savings goal
> (maintenance fund/new car fund). Is there an automatic way to do this
> or if not how do i do this manually?



  #-1  
Old 09-27-2006, 02:33 AM
DaveWW00
Guest
 
Posts: n/a
Default Paycheck Gas Mileage

I recieve a varying amount of gas mileage reimbursement on each
paycheck. What i do now is take the mileage part of the check and put
that towards the gasoline category in my budget so that it cancels out
part of it. However, since the mileage rate i get paid is more than it
actually costs me per mile i get paid more than it costs me for all the
gas in a month.
I would like to take part of the gas mileage pay and put that towards
gas then take another part and put that towards a savings goal
(maintenance fund/new car fund). Is there an automatic way to do this
or if not how do i do this manually?

 

Tags
gas, mileage, paycheck
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