Budgeting from 1st of the month, CC billing is mid-month... Payment?
I just started using the web app, coming from YNAB 4. I'm trying to work this out in my brain, having difficulty, and couldn't find an answer here in the forums.
✔️ Old debt on the card - amount I want to pay towards that goes in the Budget column.
✔️ New credit charges are entered into the CC register and show up under Activity in the Budget.
✔️ Statement closes on the 15th of the month. Bill due on the 13th of the following month.
So... Now how does the payment work?
❓ Do I only pay the budgeted amount for old debt + new charges made 1st through 15th?
❓ Do I pay the budgeted amount + new charges made 1st through last day of the month, despite them not "closed out"?
Thanks for any insight while I navigate the new app!
If there is old debt on the card, paying the statement balance might not be what the OP wants to pay or can pay.
As dakinemaui said, it's your call how much you send as long as it doesn't exceed the amount in the Available column of the CC payment category. But most CC with debt on it don't have a grace period for the interest, so you might be better off to send as much as you have reserved.
So you are carrying debt on the card? Is it interest incurring?
And you are also making new purchases on the card?
If this is the case, my recommendation would be to pay the full amount shown in the CC payment available more frequently. Perhaps anytime you are able to add money to the Budget column for the CC payment. This will reduce the amount of interest paid overall, since new purchases start incurring interest immediately when you are incurring interest on old debt... there is no grace period.