multiple credit cards

hi there. just starting out with YNAB and I find all my credit cards a little overwhelming. I mostly pay them off in full every month but I find that I have so many - 5-6 as I collect miles. should I input them all individually in YNAB?

also I pay for my partner's credit card too to get more miles and she pays it off herself in full every month. how do I account for that?

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  • Every account you spend from should be on budget. A paid-in-full card such as these should have its Payment category cover the entire account balance.

  • Tan Mermaid said:
    I pay for my partner's credit card too to get more miles

    Not sure what you're saying here. If you're talking about tracking reimbursements, see this, especially the first approach described therein.

  • Hi.  At first the credit card part of YNAB can seem confusing, and that's because YNAB doesn't like DEBT!  Which is also why YNAB works so well to actually change your behavior.  I also use several cards to rack up travel miles/points and pay off each month.  I list each credit card as a Budget account and make transactions under each one.  I use YNAB4 so I'm not in the new YNAB at present.  The key is to pay each one off every month, so when you budget your items (clothing, trips, groceries, everything) YNAB doesn't care what you use to pay for those budgeted items.  If you aren't going over budget, then you just transfer money from your checking account to the credit card you are paying (hopefully to 0 balance). 

    If I understand the 2nd part of your question correctly, you use your partner's card and they pay it in full each month.  So I would include that card use as well, then the payment of that card from their checking account.  You could even have a separate category for "Partner Card" if you wanted to keep that one less in the mix of yours.  The downside of this is not being able to see exactly what you are spending on...gas, grocery, etc.).  

    I know there are Credit Card specific YNAB classes and videos as well!  Hope this is helpful.  

  • Sweet Tangerine said:
    hopefully to 0 balance

    You're likely to have fewer issues if you only pay the statement balance rather than the entire account balance. Returns are less likely to cause a negative Payment category, the payment can be automated, and you earn interest in the CC's money.

    Unless you frequently run up against your credit limit, NOT paying the account to $0 is preferable.

    • dakinemaui Interesting, I pay the balance to $0 every month just before the due date without any issues.   I do automate it paying the balance in full (I basically automate everything I can...loved the book Automatic Millionaire!).  This way is just how I do it...know there are a million and one ways to YNAB!  ;)

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