scheduled transactions for cc?
I am carrying massive cc debt. Should I try to schedule the transactions, even though the amount changes monthly? I am currently in snowball on one card and making payments on the others. Is it better to just enter the amounts monthly?
Hey Gold Saxophone , great question! And congrats on having the courage to tackle those credit card debts! Seems like you've got a pretty strong strategy in place.
As for scheduling transactions, I would only schedule them in YNAB if you've already scheduled them with your bank. If you intend to pay a certain amount in the future, then as your bank allows, feel free to add a scheduled transaction both in YNAB and at your bank. That way, you can set aside that cash and know that it already has a job.
Let me know if that brings up any other questions!
I have a monthly recurring transaction that I update each month. When I scheduled the payment, I update the amount in YNAB and change the memo to the month in which the payment will be made. So if the payment is coming out in December, and the memo in YNAB says "December", I know without looking at mybank that I have updated to the correct amount and scheduled the payment.