Money I owe someone else?

Been trying to wrap my head and am honestly struggling.

 

I borrowed ~$3,000 from someone (person, not company, no interest). I'd like to track every payment I've sent their way to pay back the loan. 

 

How best should I set this up? I've thought maybe to use an account, but which kind? Line of credit? Liability? 

 

What's worked for you?

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    • Melissa
    • Routinely questioning every assumption I have about my budget, my spending, and my savings habits.
    • todays_mel
    • 3 days ago
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    This article goes into how to set up a debt/loan. You'll likely choose to use "Method 2" since  you want to track your payments/progress (note: since your loan won't incur any interest, you can ignore step 5): 

    https://docs.youneedabudget.com/article/181-tracking-loans

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  • Method 2 from the Help doc Melissa mentioned would be a good fit for what you need! 🙂

    Just adding a bit more context here that setting the account up as a Liability Tracking type means the account is "off-budget." You might have other reasons for using Tracking accounts, too! More detail on accounts types can be found here: https://docs.youneedabudget.com/article/177-account-types

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