Unable to use "Pay off balance" goal after fresh start
Yay Jan 1! I did a fresh start, and found that for 1 linked credit card where I want to set a goal for paying it off later, the category doesn't have the correct balance (not sure if this is a correct description).
My linked credit card starting balance imported correctly. This is what's shown on the left panel, where all my cards are shown:
Then I added the amount I had previously budgeted to my budget, which does not cover the full balance.
However, when I click on the category and set a goal to "Pay Off Balance" by March, I am told that I have budgeted enough and I have already met the goal, because YNAB thinks my balance is $0. There's nothing that's editable to change the "$0". I can manually set a dollar amount for the goal, but then the goal won't automatically update in the future if I spend money on the card, so I am not inclined to do so. Any ideas on how to make it automatically set the correct balance?
For reference, this is what the goal used to look like in my old budget, before I did "start fresh".
Thank you in advance!
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Managing CC debt in YNAB isn't really my area, but it looks like your new goal is set to $0 instead of $9,540.79. And your account balance doesn't look to be negative. Maybe simply went into the wrong column in the account?
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I used the "Pay off balance" feature in the goal, which means it's supposed to detect the balance automatically and set my goal for me.
If I manually enter $9540,79, then spend more money on that card, then the goal won't be automatically adjusted next month to budget the additional money for paying it off, which is why I don't want to set the goal amount manually.
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Hm, it seems to be something that's wrong just with Wells Fargo. I ended up removing and re-adding all my credit cards, in case others are broken, and the Wells Fargo account is the only one that still has the same problem. I'll have to reach out to Support.
You can see my Amazon credit card shows $0, because I have a balance on it, but only budgeted $0. And when adding the card, YNAB asked me how I want to pay it off. But for whatever reason, for the Wells Fargo account, it never asked me that question and now it thinks the balance is $0. Very bizarre...
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Slate Gray Cup Is the CC balance in the left sidebar *negative* 9K? If not maybe the starting balance imported with the wrong sign, and if you fix that transaction it will behave better?
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Herah Ohhhhhhh great catch! You are absolutely correct that it should be negative, and now that I manually fixed it, everything's fine. Very bizarre that it pulled it in as positive, as it is a linked account... I even tried removing and re-adding it.
Thank you!!
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Slate Gray Cup Hey that’s what I said. Bah.
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Annieland yeah, it looked like he'd blown past it, so I repeated it with more words. 🙂
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Herah Thanks :) And here I am trying to be pithy and not blather on like I usually do. My family put me to bed early last night because I was in a bad mood and they feared a rage quit which I argued I haven't done in like, 20 years. I'm like Mona Lisa in My Cousin Vinny, I just want to help! 😂😂
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You might consider back-dating your starting balances for Dec. 31 and budget the startup capital in the Dec. area. This does skew spending averages on the low side for a while.
Alternatively, set the Payoff goal in the Feb. budget area. Spending averages are correct.
