If using reward credit card to pay expenses, am I double counting?
I am have been with YNAB for a while now but still have some things about it I don't understand. If I am using a rewards credit card to pay all my expenses and then transferring funds to pay off the balance each month, am I double counting those expenses.? I see the individual expenses (water , electric, internet) broken out into categories in the expense section and I also see the lump sum Credit Card Payment also listed.
Thanks in advance! If there is another thread or video I should review, please let me know.
You should record the CC Payment as a transfer (no category). It will not double-count if you do it this way.
If this is a change from what you've been doing, you'll probably have to adjust what you're doing in the budget as far as a payment. There's a built-in payment category for every on-budget credit account that you should be using, rather than something you've created.
Edit: Some useful resources...