Alternate Reimbursement Method?
This summer my budget got pretty screwed up as a result of some outstanding reimbursements. I would like to prevent this from happening again.
I sometimes have some pretty big work related reimbursements and some medical reimbursements.
Has anyone tried creating an entirely different budget using a separate credit card to track reimbursements? This would keep it totally out of my default family budget, and make it easier to identify which transactions are for reimbursement.
What are your thoughts?
Hey Jim S ! I haven't used a separate budget for reimbursements, but I have used a tracking account (one for each person/work reimbursements/medical reimbursements, etc). For those, I do a transfer out from checking/credit when I buy something I'll be reimbursed for, and an inflow when I'm actually reimbursed. This has worked well for when one of my kids will reimburse me in multiple installments, or even by working off part of the payment (I can make an inflow for this to the tracking account, rather than a transfer back to checking). Would that work for you? What methods have you tried in the past?