diff --git a/app/Models/Milestone.php b/app/Models/Milestone.php
index 98efa38..08c7caf 100644
--- a/app/Models/Milestone.php
+++ b/app/Models/Milestone.php
@@ -11,6 +11,7 @@
 class Milestone extends Model
 {
     protected $fillable = [
+        'tracker_id',
         'target',
         'description',
     ];
diff --git a/app/Models/Tracker.php b/app/Models/Tracker.php
new file mode 100644
index 0000000..8b024cb
--- /dev/null
+++ b/app/Models/Tracker.php
@@ -0,0 +1,25 @@
+<?php
+
+declare(strict_types=1);
+
+namespace App\Models;
+
+use Illuminate\Database\Eloquent\Model;
+
+class Tracker extends Model
+{
+    protected $fillable = [
+        'user_id',
+        'asset_id',
+        'label',
+        'unit',
+        'price_tracking_enabled',
+    ];
+
+    protected function casts(): array
+    {
+        return [
+            'price_tracking_enabled' => 'boolean',
+        ];
+    }
+}
diff --git a/database/migrations/2026_05_02_000001_create_trackers_table.php b/database/migrations/2026_05_02_000001_create_trackers_table.php
new file mode 100644
index 0000000..6b3afcf
--- /dev/null
+++ b/database/migrations/2026_05_02_000001_create_trackers_table.php
@@ -0,0 +1,50 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\DB;
+use Illuminate\Support\Facades\Schema;
+
+return new class extends Migration
+{
+    public function up(): void
+    {
+        Schema::create('trackers', function (Blueprint $table) {
+            $table->id();
+            $table->foreignId('user_id')->constrained()->cascadeOnDelete();
+            $table->foreignId('asset_id')->nullable()->constrained()->nullOnDelete();
+            $table->string('label');
+            $table->string('unit');
+            $table->boolean('price_tracking_enabled')->default(false);
+            $table->timestamps();
+        });
+
+        // Migrate existing users: create one tracker per user from their current asset_id + price_tracking_enabled
+        DB::table('users')->orderBy('id')->each(function (object $user) {
+            DB::table('trackers')->insert([
+                'user_id' => $user->id,
+                'asset_id' => $user->asset_id,
+                'label' => 'Portfolio',
+                'unit' => 'shares',
+                'price_tracking_enabled' => $user->price_tracking_enabled ?? false,
+                'created_at' => now(),
+                'updated_at' => now(),
+            ]);
+        });
+    }
+
+    public function down(): void
+    {
+        // Restore asset_id and price_tracking_enabled back onto users before dropping trackers
+        DB::table('trackers')->orderBy('id')->each(function (object $tracker) {
+            DB::table('users')
+                ->where('id', $tracker->user_id)
+                ->update([
+                    'asset_id' => $tracker->asset_id,
+                    'price_tracking_enabled' => $tracker->price_tracking_enabled,
+                ]);
+        });
+
+        Schema::dropIfExists('trackers');
+    }
+};
diff --git a/database/migrations/2026_05_02_000002_refactor_purchases_to_entries.php b/database/migrations/2026_05_02_000002_refactor_purchases_to_entries.php
new file mode 100644
index 0000000..66a3163
--- /dev/null
+++ b/database/migrations/2026_05_02_000002_refactor_purchases_to_entries.php
@@ -0,0 +1,50 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\DB;
+use Illuminate\Support\Facades\Schema;
+
+return new class extends Migration
+{
+    public function up(): void
+    {
+        // Rename table
+        Schema::rename('purchases', 'entries');
+
+        Schema::table('entries', function (Blueprint $table) {
+            // Rename columns
+            $table->renameColumn('shares', 'quantity');
+            $table->renameColumn('price_per_share', 'unit_price');
+
+            // Add tracker_id FK (nullable first so we can backfill)
+            $table->foreignId('tracker_id')->nullable()->after('id')->constrained()->cascadeOnDelete();
+        });
+
+        // Backfill tracker_id: assign all entries to the first tracker (single-user app)
+        $trackerId = DB::table('trackers')->value('id');
+        if ($trackerId) {
+            DB::table('entries')->update(['tracker_id' => $trackerId]);
+        }
+
+        // Make tracker_id non-nullable now that it's backfilled
+        Schema::table('entries', function (Blueprint $table) {
+            $table->unsignedBigInteger('tracker_id')->nullable(false)->change();
+        });
+    }
+
+    public function down(): void
+    {
+        Schema::table('entries', function (Blueprint $table) {
+            $table->dropForeign(['tracker_id']);
+            $table->dropColumn('tracker_id');
+        });
+
+        Schema::table('entries', function (Blueprint $table) {
+            $table->renameColumn('unit_price', 'price_per_share');
+            $table->renameColumn('quantity', 'shares');
+        });
+
+        Schema::rename('entries', 'purchases');
+    }
+};
diff --git a/database/migrations/2026_05_02_000003_add_tracker_to_milestones_drop_from_users.php b/database/migrations/2026_05_02_000003_add_tracker_to_milestones_drop_from_users.php
new file mode 100644
index 0000000..b1cbc2a
--- /dev/null
+++ b/database/migrations/2026_05_02_000003_add_tracker_to_milestones_drop_from_users.php
@@ -0,0 +1,44 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\DB;
+use Illuminate\Support\Facades\Schema;
+
+return new class extends Migration
+{
+    public function up(): void
+    {
+        Schema::table('milestones', function (Blueprint $table) {
+            $table->foreignId('tracker_id')->nullable()->after('id')->constrained()->cascadeOnDelete();
+        });
+
+        // Backfill tracker_id on milestones
+        $trackerId = DB::table('trackers')->value('id');
+        if ($trackerId) {
+            DB::table('milestones')->update(['tracker_id' => $trackerId]);
+        }
+
+        Schema::table('milestones', function (Blueprint $table) {
+            $table->unsignedBigInteger('tracker_id')->nullable(false)->change();
+        });
+
+        Schema::table('users', function (Blueprint $table) {
+            $table->dropForeign(['asset_id']);
+            $table->dropColumn(['asset_id', 'price_tracking_enabled']);
+        });
+    }
+
+    public function down(): void
+    {
+        Schema::table('users', function (Blueprint $table) {
+            $table->foreignId('asset_id')->nullable()->constrained()->nullOnDelete();
+            $table->boolean('price_tracking_enabled')->default(false);
+        });
+
+        Schema::table('milestones', function (Blueprint $table) {
+            $table->dropForeign(['tracker_id']);
+            $table->dropColumn('tracker_id');
+        });
+    }
+};
diff --git a/tests/Feature/MilestoneTest.php b/tests/Feature/MilestoneTest.php
index aa54402..1218dda 100644
--- a/tests/Feature/MilestoneTest.php
+++ b/tests/Feature/MilestoneTest.php
@@ -3,6 +3,8 @@
 namespace Tests\Feature;
 
 use App\Models\Milestone;
+use App\Models\Tracker;
+use App\Models\User;
 use Illuminate\Foundation\Testing\RefreshDatabase;
 use Tests\TestCase;
 
@@ -10,9 +12,23 @@ class MilestoneTest extends TestCase
 {
     use RefreshDatabase;
 
+    private function tracker(): Tracker
+    {
+        $user = User::factory()->create();
+
+        return Tracker::create([
+            'user_id' => $user->id,
+            'label' => 'Test',
+            'unit' => 'units',
+        ]);
+    }
+
     public function test_can_create_milestone(): void
     {
+        $tracker = $this->tracker();
+
         $milestone = Milestone::create([
+            'tracker_id' => $tracker->id,
             'target' => 1500,
             'description' => 'First milestone',
         ]);
@@ -28,9 +44,9 @@ public function test_can_create_milestone(): void
 
     public function test_can_fetch_milestones_via_api(): void
     {
-        // Create test milestones
-        Milestone::create(['target' => 1500, 'description' => 'First milestone']);
-        Milestone::create(['target' => 3000, 'description' => 'Second milestone']);
+        $tracker = $this->tracker();
+        Milestone::create(['tracker_id' => $tracker->id, 'target' => 1500, 'description' => 'First milestone']);
+        Milestone::create(['tracker_id' => $tracker->id, 'target' => 3000, 'description' => 'Second milestone']);
 
         $response = $this->get('/milestones');
 
@@ -44,10 +60,10 @@ public function test_can_fetch_milestones_via_api(): void
 
     public function test_milestones_ordered_by_target(): void
     {
-        // Create milestones in reverse order
-        Milestone::create(['target' => 3000, 'description' => 'Third']);
-        Milestone::create(['target' => 1000, 'description' => 'First']);
-        Milestone::create(['target' => 2000, 'description' => 'Second']);
+        $tracker = $this->tracker();
+        Milestone::create(['tracker_id' => $tracker->id, 'target' => 3000, 'description' => 'Third']);
+        Milestone::create(['tracker_id' => $tracker->id, 'target' => 1000, 'description' => 'First']);
+        Milestone::create(['tracker_id' => $tracker->id, 'target' => 2000, 'description' => 'Second']);
 
         $response = $this->get('/milestones');