Credit card payments
I am still confused by the credit card payments. My credit card balance is correct but the credit card payment is wrong. I pay my credit card off each month and I thought I started with the right initial balance but it still isn't right. Shouldn't they both be the same? I never spend on my credit card without assigning it to a category. Thanks
Hi! If you're finding your Credit Card Payment category doesn't match your credit card balance—even though you budgeted for your Starting Balance on the card directly in that category, the difference might be caused by a few common culprits.
1. Is there credit overspending? You said above that you assign expenses to categories, but do you ensure the spending is budgeted for in those categories? Look for yellow Available balances with exclaiming credit cards to quickly view credit card overspending. Be sure to cover those expenses.
If none of those are the reason, we're happy to help you figure out what is! You can reach out to our support team right from your budget and we'll take a look. :)
I would also check to see if you have goals, or did you budget the credit card when you first started YNAB? If you did not, then it assumes you have not made any payments. When the new month begins, if you don't have a goal, YNAB assumes you have zero spending. In that case if you have used it, then YNAB assumes you are going to pay it "that month".
YNAB makes it a zero based budget and assumes you are trying to avoid using the credit card but budget for the expenses if you must.
For example, I have had this credit card. The balance is currently ~500 dollars. I started this month with a goal to pay it off by next month. I also spent some money (on food and stuff using the card) So YNAB makes it so I need to "pay off" - completely, not charging any more that much this month - that amount in the budgeted column. So I have to pay that amount by this month, otherwise the "available" will not be zero. The money has to come from the categories the spending was for. Notice, the balance is not the payment.