"Overbudgeting" due to positive credit card balance?
Hi there, very new to YNAB and very confused by the message I'm currently getting.
I added a new (unlinked, as it's a capital one card) credit card to my budget. The card had a *credit* of $91.14 initially thanks to cashing out rewards prior to setting up YNAB. That money then went into my TBB pool and I budgeted it towards my long term savings category, since everything was already fully funded this month.
I then manually added a few (3, totalling $40.86) transactions onto the card, categorizing them appropriately. The money was taken out of the proper categories (which had all been funded previously), and put into the "available" category for the credit card, just as I would expect.
However, I'm now left with YNAB telling me that I've overbudgeted by $40.86, but I don't understand how that's the case.
Cyan Android said:
The money was taken out of the proper categories (which had all been funded previously), and put into the "available" category for the credit card
If the CC has a credit balance -- a positive account balance in YNAB -- funds should NOT move to the CC Payment category. Purchases on a positive CC account do not need to be paid back. It is effectively another checking account with a debit card.
When you say "overbudget", do you mean To Be Budgeted is negative? Or do you mean a category Available is negative (which is actually "overspent"). The reason I ask is that new users often mix up the terminology, and parts of your description seem at odds with each other.
Money going into TBB is consistent with a positive account balance (assuming you categorized the rewards as TBB). However, money moving to the CC Payment category is not.
A few questions:
- When you said "money was taken out of the proper categories", do you mean YNAB did that, or that you did that?
- Is anything budgeted to the CC Payment category?
- What is the Available amount in the CC Payment category?
- What is the CC account's working balance (in YNAB) right now?