The Month Rolled Over...
Hello YNAB! Forgive me if this is posted before somewhere... I did not find anything in my search but I could have overlooked! My CC cycle ends on the 5th, instead of the end of the month. I did not make the payment before March ended, so my budget has now moved into April and I cannot figure out what my payment should have been for March. Is there an easy way to discover this? Or, does this just become part of the balance to continue paying off, and I have a lot of extra cash in my checking account! Thanks in advance to the gurus!!
At any given time, regardless of your credit card cycle, the amount in green in the Credit Card Payment category is how much you have set aside in your budget to pay your credit card bill. Ideally, the amount in green should be the same amount, but opposite sign, of the credit card account working balance on the left side of the screen (ie credit card working balance is -$500 and the credit card payment category is +$500). If the account balance is higher, you are carrying credit card debt. In order to pay down credit card debt, you will have to allocate funds as you are able to the credit card payment category (in the left column which will increase the amount available in the right column).
Unless your balance is close to your credit limit, there is never any reason to pay more than your statement balance so even after a payment, there may be some money left in the Credit Card Payment available balance. YNAB seems to favor the user paying the full account balance rather than just the statement balance, but I don't think the credit card companies deserve my money a day earlier than it is actually due.
nicolee. rva as jenmas mentioned, the goal of the Credit Card Payment category in YNAB is to match your current or full balance, not the statement balance--that way you're not spending money you don't have or getting in the position of creating more debt.
However, if you are paying just the statement balance and you know exactly what that is, you can enter that in as a future transaction so that when it pulls you'll no exactly what the remaining balance is on the card and that you have set aside. I wouldn't say that YNAB favors paying the full account balance, but just having the amount set aside for payment for whenever you prefer to pay it.