Archive | March, 2012

Net Savings

Posted on 13 March 2012 by Vikram

Track Every Coin now displays “Net Savings” of an account.

What is Net Savings? 

Net Savings is the unspent money from every month in the your account. It should ideally reflect your bank balance if all the card and cash expenses are captured.

Why is my Net Savings showing a negative value despite having entered my Income?

Original – Why is my Net Savings negative when my Income is not? 

Since net savings is the sum of all the savings over months, if you have spent more than your income in most of the previous months, then net savings will be negative.

Firstly, we allow users to add expenses without adding any income which can cause “Net Savings” to go negative.

Secondly, the negative savings can also reflect your credit expenses.

What is the best way to use Net Savings? 

Check your bank account and make sure your net savings is on par with your bank balance. This will be a one time effort and if you continue to track all your income types (salary, bonus, share trading etc) and expense types (cash, credit-card, insurance etc ) your “Net Savings” will always reflect your bank account.

Hope you enjoy this feature as much as we enjoyed bringing this to you.

 

 

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