How to show a car downpayment

I am using the savings budget template and just bought a car. I have a category for the car payment, but I was curious about how to handle the down payment. Should I adjust the car payment to account for the down payment or should I some how show a savings transfer?


I recently bought an apartment and came across the same conundrum when it came to the down payment for the property. Mine came directly out of my savings account, and I chose to categorise it as a (large) repayment, then changed the budget for that month. Ultimately, it’s your decision so do what makes the most sense for you - there is no ‘right’ or ‘wrong’ way for these types of things.

Thanks Sam. What I ended up dong was adjusting the category for my car payment to include my down payment. I think that makes sense, but it just makes the cashflow for that month look a bit wacky since the down payment along with all my other expenses is greater than my income for the month and the resulting cashflow is negative. Again that makes sense. Technically I spent more that month than I earn even if it came out of surplus savings. I am not sure of another way to do it.

I do struggle a bit with how to track savings. Right now I have all my cash in a high yield savings account where my salary is deposited and my expenses are paid out of. I have a surplus of cash for emergencies, things like this down payment, and whatever else I need. I don’t really track that in the savings budget. I mainly just using the savings budget to track monthly expenses and categories that roll over from one month to the next and then I move money around the categories as needed to try to keep things balanced. I track my long terms savings for the year and out years with a different sheet. I feel like there is a way to better utilize the savings budget for tracking savings, but I haven’t cracked that just yet.

Haha, I do something similar with my ‘savings’, which are actually in the offset account linked to my mortgage. My salary goes in there, and all expenses are paid out of it.

Personally, I don’t use the savings budget through Tiller, as I find it unnecessary. I use Tiller to track my spending, but I’m not on such a tight budget that I need to track how much I’m saving - it’s just whatever is leftover at the end of the month. Sometimes that’s 10% of my salary, sometimes it’s more.

agreed here @sam.benito . There is no right or wrong way, it’s just what makes the most sense for you. And that’s the level of customization Tiller provides. I learn a lot from hearing about customer experiences and uses of the various categories and other hacks/workflows! Thanks Community!