One-time expenses are non-recurring planned costs, such as home investments, vacations, or special events. These should be entered under the One-Time Expense section to ensure accurate financial forecasting.
Recurring expenses like yearly insurance payments can also be modeled as single amounts with matching start and stop dates in the budget.
When you enter a One Time Expense you two options to fund the expense:
If you select withdrawal order, we will fund the expense with income if possible, and then accounts based upon your withdrawal order if needed.
If you select a specific account. The full amount will be withdrawn from this account only. If the account balance is insufficient you will receive a coach alert that the expense will not be fully funded.
Additional functionality
We've also added a percentage option which is available for one time expenses from a specific account and can be helpful to reduce balances to zero.
To handle HSA withdrawals for medical expenses, you can manually set up a transfer from the HSA account to an after-tax account with the lowest growth rate under 'My Plan > Money Flows.'