Credit Card totals in Reports

Hi, so I am new to YNAB and I am sure that I am just doing something wrong but I'm a little confused about CC.  I am trying to pay off CC debt and I have all of my min payments budgeted in my CC category plus my debt snowball added to one.  I just put the min payment info in the description.  However, when I run the income vs expense report it does not include any of my CC payments.  The amount I spend on CC payments is an important part of my budgeting and its not showing a total at all.  Hopefully I'm just missing something.

Any help would be greatly appreciated!

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    • WordTenor
    • I have the honor to be your obedient servant
    • WordTenor
    • 2 yrs ago
    • 5
    • Reported - view

     It's a different way of thinking about credit cards. YNAB  deals with your credit cards as part of your total net worth.  So instead of having your cards be a payment that you pay,  they are simply a transferring of your assets from one account to another.  This is technically correct,  and importantly, it's exactly the way the credit card companies do *not* want you to think about the card.  They want you to think of the card as a bill,   So that you'll charge more money. When you account for your credit card balance as detracting from your overall money on hand, it makes you less likely to charge. It hurts more. 

    What YNAB says instead is,   You have a bunch of accounts.  One of those accounts happens to have a negative balance.  As you transfer money around your different accounts, you don't end up with more money or less money--those account balances simply change.  So $500 on hand might be $500 and zero dollars,  or it might be $1000 and -$500.  If you move $500 out of the $1000 account you end up with $500 and zero dollars between the two accounts, but it still $500 total. 

     That, in short, is why ynab does not see your credit card payments as an outflow. 

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      • Jesse B
      • Lavender_Cleric.1
      • 2 yrs ago
      • Reported - view

      WordTenor thank you so much for your help! That makes sense.

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      • WordTenor
      • I have the honor to be your obedient servant
      • WordTenor
      • 2 yrs ago
      • Reported - view

      nolesrule For me!

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  • I get what Word Tenor is saying. However, I would like there to be some kind of report that allows me to easily see how much extra money I've been throwing at the unsecured debt to pay it down. That way I'll better see how much money I'll have free once I pay down the unsecured debt. It's hard to figure that out without a report that will show this.

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 2 yrs ago
      • 1
      • Reported - view

      Maroon Clarinet That should be whatever amount appears in your Budgeted cell for the credit card payment category. You can always log the monthly number in a spreadsheet. I track a lot of data outside YNAB for further analysis.

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      • briefcase
      • A rack of ties, a travel mug, telephone, briefcase filled with papers
      • briefcase
      • 2 yrs ago
      • 2
      • Reported - view

      Maroon Clarinet Alternately, if you're not planning on using the cards again in the future, you could set them as tracking accounts and create a budget category for paying them down.  Then, you could see the totals on the spending trends report.

       

      If you elect to use the cards again in the future, you could fresh start the budget, thereby retaining your history in a separate budget file, and set them up as normal credit cards.

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      • Dazed
      • and a little less confused
      • dazed
      • 2 yrs ago
      • Reported - view

      Maroon Clarinet I use Undebt.it in conjunction with YNAB to track my debt paydown.

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  • Both those ideas make sense. I think I will use a mix:

    1) I will use what nolesrule said to go back and track the past stuff, as we are almost done paying the last card (two months to go)! 

    2) I will use briefcase 's idea as well after we pay off the card. The card we are paying down constantly offers us 0% APR balance transfers. So we may transfer money back into it from the HELOC and start it as a new tracking account. 

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