Credit Cards... WOW this makes me want to give up every day

I need more resources to figure this out.. I've listened to the ynab videos and the youtube videos and just when I think I understand I can't get my budget to work...  I can't ever trusted my 'to be budgeted' and nothing ever makes sense to what is in my actual checking account... ARGH!!!!   Where do I go from here?  Is there personal 1:1 coaching here?

See above.... Why do I need to budget $4291 in Chase when my balance for the card only has $-1,998 ???   Same for my other accounts...   I also have 'yellow' categories below that I haven't put money in to cover (they are on the credit card and I'm floating) Is this messing up the credit card numbers?

Thanks all... There are so many credit card questions i see in the forum it seems people need dedicated support here. 

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  • You sent money to the credit card that was not set aside. Now you need to move money from other categories to cover what you sent. 

     

    Before making a psyment on your credit card you have to look at what is in the available bubble. If there isn’t enough there, then you need to budget money there until there is enough. 

     

    If you arent naking budgeted purchases then ynab doesnt set aside money to pay the card

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      • StartingOver
      • Green_Wildebeest.6
      • 10 mths ago
      • Reported - view

      satcook  Ok so YNAB didn’t set aside money but how do I really fix it?   I’ve moved money from my savings to pay several large payments which is why I put my Savings account on-budget when I use to leave it off.   Do I just subtract the money from my savings category and move to my credit card?  

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    • StartingOver yes. Use the move money tool. 

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      • satcook
      • satcook
      • 10 mths ago
      • 1
      • Reported - view

      StartingOver Click on the green number in your savings category.  A move money box will pop up.  Enter the amount you need to move to the credit card payments category.

      OR click on the red negative number.  Ynab will ask you where to move money to cover that negative and you will tell it to move it from the savings category

      Like 1
  • Start with the easy fix: have you reconciled your accounts?

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      • StartingOver
      • Green_Wildebeest.6
      • 10 mths ago
      • Reported - view

      Move Light Sound Life   Yes all accounts are accurate and reconciled. 

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  • You've made purchases in categories that you haven't budgeted enough money to.  So you're adding to your credit card debt.  For example, if you spend $100 on dog treats paid for via credit card but you've only budgeted $20 for dog treats, YNAB can only put $20 to the credit card account on the left but the full $100 is added to the big red number on the credit available in the credit card category.  To get that number out of red, you need to move money from wherever (savings or WAMing from other funded categories) to the categories which have the yellow and credit card symbol.  If you're on mobile, I think it shows up differently but I am not familiar with the app. 

    So the idea is to budget only money that is in TBB and then you need to only make purchases you have budgeted money for.  If you don't have money in the dog treat category, you'll need to move money from Friday night date night or savings or whatever.  Once you're only spending money that you currently have budgeted, you will not be accruing additional credit card debt, and thus the number in the credit card on the available payment category top right will be green.  It won't match the number on the left, in the credit card account, until you've paid off any credit card debt and have moved off the credit card float.  To do that you would put money available in TBB in the budgeted column for each credit card and pay that much extra to your credit cards on top of the money that you have spent that was budgeted for.  Moving off the float means that  you could pay your entire balance on the card today instead of only the balance from the last statement balance.  Float means that you are using today's dollars to pay for last month's purchases. 

    I ended up pulling money out of sinking funds to get off the credit card float since i didn't have credit card debt, otherwise it would have taken months.  Now that I am off the float, my number on the left and the number in the credit card column match.  

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      • StartingOver
      • Green_Wildebeest.6
      • 10 mths ago
      • Reported - view

      Technicolor Cheetah Technicolor Cheetah  thank you for the detailed explanation.  This helps. So in the credit card category do I just put the amount of the payment I made for that month then let the “dog treats “ category stay yellow?  I guess I’m asking, how do I continue the float until I can get out of it?  

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      • Technicolor Cheetah
      • Not sure when I became a cheetah...but I'll run with it
      • technicolor_cheetah
      • 10 mths ago
      • Reported - view

      StartingOver Being on the float means that you cannot pay the full balance on your credit card today if you had to.  You can be on the float if you still have debt or if you can pay the statement balance in full on the due date.  

      I'm not sure I understand your question.  On the budget page, the only time you put anything in the budgeted column under credit cards is if you're paying more than what's been budgeted to purchases made on the card(s) that month which will be on the right column, Available.  This should only happen if the number on the right is green and not red.  You should not be taking money from TBB if you have a category that's overspent.  If your dog biscuits category is over spent and you have TBB available, then add the TBB to dog biscuits.

       

      In other words, budgeted on the budget page for credit cards is very different than paying the credit card.  You pay the card by going to the credit card page and selecting record payment.  Whatever you pay to the credit card will show up on the budgeting page under activity.  

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      • StartingOver
      • Green_Wildebeest.6
      • 10 mths ago
      • Reported - view

      Technicolor Cheetah  I guess that is where my budget sheet is causing issues.  I don’t know what to put in the budget column for CC.    Do I never put anything in there since my payment is recorder elsewhere?   If it is green then I have some funds to pay which were transferred when I put funds in other budget buckets.  Got that.  What if it is Red?  Do I add more funds (I’d pull from savings since I can’t cover with TBB) or do I not do this since when I make the payment it will become a record up the CC as a payment.   Which scenarios do I add money to the budget column versus only looking at what is happening in the ‘Available’ column?

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    • StartingOver Someone else will chime in if you are dealing with debt that's already on card ... but to answer your question, I never put anything in the budget column for CC. If I make a purchase on my card (that is budgeted for), YNAB simply says "ok, now that money isn't categorized for more dog treats, it's ready to pay your CC bill". If the purchase was not budgeted for I move money from another category, but I don't touch the CC category at the top. When I pay my credit card bill I enter the transaction on YNAB and it takes the payment from the CC category.  

      If there is debt on the card I *believe* you add what you can afford to the CC budget category to pay down the debt, while still doing all the things mentioned above. 

      Like 1
      • Technicolor Cheetah
      • Not sure when I became a cheetah...but I'll run with it
      • technicolor_cheetah
      • 10 mths ago
      • Reported - view

      StartingOver 

      My suggestion is find out if you have any over spent categories in this month and in last month.  Fix those first by moving money from somewhere else (this is called WAMing here, stands for 'whack a mole') to cover the over spending.  OK.  You've done that, the available credit card payments column is no longer an angry red, yes?  ok.  But now the numbers on the credit card available does not match the numbers on the left side of the web screen where the credit card accounts live, right?  That means either you have credit card debt or you're still on the credit card float.  If you're still not sure what those are and how to deal with them, there are classes on YNAB and I can also recommend Nick True's videos on YNAB on youtube.   He also has a detailed credit card video with obviously video showing you scenarios in case you're a visual learner.  

      In any case, if you're on the float/have credit card debt, this is when you will move money from savings, put it on budget if it's not or make it an inflow to your bank account, as TBB.  Or if you have money left over from paying your absolute necessities, you can use that too, if that exists.  Anyway, you have CC debt or float and now you have money in the TBB.  This is when you budget money into the Credit Card Payments budgeted column.  If you have $500 of budgeted spending shown green in the Credit card payment available column and you add $100 to the budgeted column to the left of that, the credit card payment available will go up to $600.  When you make the actual payment to the credit card (YNAB won't do that for you), $600 will show up in the activity column in Credit Card Payments, and the number in the credit card account to the left will go down $600.

      And hey, if you can't start repaying debt because you're broke right now, my suggestion is to start by trying to stop adding to the debt by only making purchases for which you've budgeted money to cover those purchases.  Start checking your categories if you can remember before purchases to see if there are funds available  and if not, decide what's more important, a night out or the electric payment.  Or whatever.   You'll have to move money from somewhere else, after all.  It's a matter of priorities.  Start with basic necessities.  You'll start paring down what you find are not a priority.  You'll start plugging the holes in your budget where mindless spending is happening that you can't even recall a month later.  Once you're doing ok there, then set your sights on getting out of debt then getting off the float. 

      Baby steps - walk before you run.   Good luck!  Don't let the really hard parts in the beginning scare you off!  Most of us have been there before, we needed help too.  I watched videos on youtube, either nick true or really old YNAB ones, I signed up for web classes, I read a lot of blog entrees on YNAB, and then I came here.  Lots of resources at your fingertips.  It's ok to step away for a day or two if you're overwhelmed, just come back!  

      Oh, hey, Slate Gray Gazelle just linked the Nick True vid I referred to above.  Like minds!

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  • Honestly, Handling the credit cards was the hardest thing for me to grasp. I didn't understand how the money moved. I felt like I was searching for a needle in a haystack. I've attached a video that I came across during the free 34 day trial that really help me to understand how credit cards are handled YNAB. After watching his other beginners guide to YNAB I was able to get set up very quickly. I have no association with this guy or anything affiliated with him. I just thought it might save you some time and frustration. BTW, I no longer move allocated money from categories to cover credit card payments. That is handled within the transactions that are imported or recorded. Makes it super simple. Best of luck.

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