Credit Card Overspending Hard to visualize

I am migrating from YNAB4 and I am unhappy with credit card handling.  I always pay in full so it seems unnecessarily complicated.  But beyond that..

The system makes it super easy to unknowingly to build credit card debt and live off the float.  

It doesn't make it obvious that you haven't allocated money to your credit card balance. Unlike in 4 where this was inherent as it was a cash like account. 

The app should have a warning on the budget tab and on the right hand side that a credit card has a balance that is unaccounted for.  Right now you have to visually and manually reconcile the payment balance with cc balance (or go into each account tab and look at the overspent)

It should be way easier to tell that you are working on debt. and Label these categories as having "UNFUNDED DEBT"

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  • Also there should be a button on the Quick budget to set the amount budgeted to make the payment and balance equal.  Call it "Pay balance in full."

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      • Bruce
      • Software Engineer
      • Bruce
      • 13 days ago
      • Reported - view

      Turquoise Keyboard The toolkit has this feature.  Don't know if you have installed it yet, or not, but if you do, it's under the budget section, and is called "Paid in Full Credit Card Assist" The description of this is:

      Highlights credit card category balances with a yellow warning if the balance of the category does not match the account balance. Adds a button to the Inspector to rectify the difference.

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  • While I think all debts should be display how much is unfunded.  Credit cards are especially important, its too easy to start playing with monopoly money and not know it with this interface. 

    A better solution would be automatically allocate money from the next months budget towards payment so that they are always reconciled.  This could be toggled on/off with a option called "always pay CC in full"
     

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    • Turquoise Keyboard said:
      its too easy to start playing with monopoly money and not know it with this interface

      It's actually more difficult to introduce monopoly money with this version. A lot of people got "upside down" with the independent debt category in YNAB4 without even realizing they were in trouble. The entire CC handling was revamped in order to provide additional warnings. However, I agree there could be more.

      As long as there is no red showing (categories or To Be Budgeted), every penny in categories is real. One major problem of which to be aware is that a future To Be Budgeted can be red without any indication on the current screen. (Search Stealing From The Future).

      The Toolkit Extension adds any future TBB shortage to the header.

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    • dakinemaui 

      Thanks

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  • Another good place to put it.  I am done ranting, I think.

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  • I found another solution, add a goal called always pay in full. 

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  • The YNAB Toolkit (a 3rd party browser extension) adds the exact Quick Budget button you seek. Called "Paid-in-full CC Assist", it also turns the category orange if it doesn't match.

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  • One very effective workaround to your irritation is to use a checking account to represent your paid-in-full CC. This automatically reserves the entire debt (account balance) for payment at all times. Any overspending that sneaks in will be taken out of the following month's To Be Budgeted.

    It's effectively like YNAB4's CC handling with a Pre-YNAB Debt category locked at $0. There's not even any CC payment category to become unsynced, as that's essentially redundant for a PIF card.

    (If you ever need to carry a balance or ride the CC float temporary, it's a 10 second endeavor to balance-transfer to a real credit-based account until PIF status is restored.)

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    • To switch to the checking account representation, make sure you have PIF status (CC Payment category exactly covering the entire account balance first. Then create a new account and issue payment (transfer) of that full balance from that new account to the current credit account. Close the old and you're done.

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  • That's great thanks that fixes my problem.  Still think my suggestions are good tho.  I see some of them have been thought about before.  I didn't realize I could still link the account and have it listed as a checking account. 

    I would like the YNAB toolkit.  I'll have to think about it.  It seems like a bit of a security risk.  I could imagine it submitting a prompt to fix your bank credentials and then being a man in the middle thing.  Not sure if that is paranoid or not. 

    Either way, thanks a bunch. 

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    • Turquoise Keyboard I think your suggestions are good, too! I am definitely an advocate for a "Pay In Full" goal. If you have a moment, I hope you'll share your ideas with our Product Team by submitting a Feature Request

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    • Faness Done thanks

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  • If you're PIF on all your CCs, there is no reason to use YNAB's CC system. All my CCs are checking accounts. Linking/unlinking has no effect on the account type.

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  • Turquoise Keyboard said:
    I would like the YNAB toolkit.  I'll have to think about it.  It seems like a bit of a security risk.

    You face the same security risk by giving YNAB your bank credentials. TBH, I'd say it's LESS of a risk for the toolkit, as that code is in the public domain. No one outside of YNAB knows what YNAB is doing internally.

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