Moving over mid month and setting up payments
I’m coming from different software and was on a debt roll down plan. I am assuming that I can just budget this month for the amount showing in my current software to be paid (minimum payment plus expenses) and then moving forward ynab will do that for me?
for example credit card has minimum payment of $208 but current envelope in old software shows I should pay $656. So make budget for this month $656 and then for next month the $208?
Hi Slate Gray Sander !
Sorry for the delayed response here! You're right - you'll want to budget $656 in the current month and the $208 in future months. Just a heads up, YNAB handles credit cards differently to help you stay on top of your credit card spending.
Let's say you have $5 in your Dining Out category. If you spend $5 on your credit card and categorize the spending as Dining Out, YNAB will move that $5 to the credit card category for you, so that you can pay off that spending. If that happened in the current month, you'd see $661 Available (the $656 you Budgeted, then the added $5 for the spending). If it happens in a future month, you'd see $213 Available (the $208 you Budgeted then the added $5 for the spending).
To learn more about how credit cards work in YNAB, take a look at our Quick Start Guide to Credit Cards and consider taking our Master Credit Cards with your Budget workshop or check out our Budget for Credit Cards video course! :)