Fresh start problems on a PIF credit card payment amount
I made a fresh start on Jan 1, no problems. My PIF CC had a different starting budget than what was really accurate, due to pending purchases. I entered all of my pending purchases and changed the starting balance which made everything line up that day. 😬 Now I'm not sure I should have done that.
On my budget screen, it says I have $5,312.98 activity and a red -$5,312.98 payment bubble. (You've overspent this category by $5,312.98. Cover this overspending or you can't trust your budget balances!)
In the PIF account screen, every processed transaction is accounted for, as is my 1/7 payment of $6,400.18 (which covers last month but none of those transactions are in this fresh start).
How can I rectify this payment discrepancy? The cleared/working balance is correct. I'm betting the problem lies in either me changing the starting balance or the 1/7 payment. I just can't get the math right to change the starting balance correctly.
Nothing to do with either of the transactions you mention. The CC Payment category (same thing as the "Payment" in the register) is how much of the cash you currently have is planned to go toward the next CC bill. YNAB doesn't assume you will pay any of the starting balance off. Your assertion that this is a PIF/paid-in-full card means you need cash reserved to... well... pay the account in full. :-)
The only reason to change the starting transaction is if the cleared balance doesn't agree with the CC's website. You could also make a reconciliation adjustment transaction, which will automatically do the math for you. The point is that the YNAB account agree with the real-world account as well as possible. (YNAB may also include pending transactions if you've entered them manually, not marked cleared of course.)
I have not been riding a float. I am sure of that. I worked that problem out years ago.
I may have budgeted incorrectly when I did the fresh start, because I changed up a lot of categories and tried budgeting into the next month instead just having excess money in each category. But there are too many categories and too many random numbers to try to undo it all now.
I'm going to do the fresh start again and see if I can get it right this time, or I'll just go back to my original budget.
Thanks for the help
Yes, everything in my old budget was equal. everything was positive, there were no negatives or overpayments.
My budget was on autopilot and I had stopped thinking about how it could serve me better. It was made in 2015, and my needs have changed. So, just like YNAB suggests, "Fresh starts are a useful (and dare I say invigorating?) way for seasoned YNABers to see their money with new eyes. They offer you the opportunity to shed your old budget, like a snake sheds its old skin, to reveal the newest, healthiest version buried beneath."
I'm going to try again with Matthew's info about budgeting the starting balance on the card, I think that will get this one going correctly.
Thanks for the concern. I think i'm good now.