Shared credit card

Which can be the best way to account in the following situation?
I have a shared credit card with my Dad. I spend an x amount to give him back with a immediate bank transfer (like revolut). But he tell me I can keep an y amount.

For example. I spent 1000 this month, I should give my dad 1000 with a bank transfer, but he tell me that 900 is ok. How can I account for this 1000 difference?

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  • Hi, there! It seems like your Dad is primary on the credit card. How do you budget for the credit card spending in YNAB? Do you have a CC account in which you log only your transactions?

  • Your Dad is very generous.  I would treat the difference between spending and what he asks you to pay the same way one treats a rebate from a credit card company (e.g. my credit card gives me points from certain purchases that I can cash out for a reduction in my balance).

    There are a few posts (and I think some official YNAB content) on different ways to handle credit card rebates, but here's how I do it.

    When I spend on my card, money from the categories I spent gets reallocated to the card.  Let's say I have $1200 ready to pay my card, having made $1200 in purchases after starting with a zero balance.  A lot of my recent purchases qualified for rebates, so I'm getting $150 statement credit from the bank.

    1. I enter a card transaction for $150 inflow from the bank.  This raises my credit card balance, giving me a balance of -$1050, up from -$1200. 
    2. I move $150 from my credit card's budget to "Ready to Assign".  This will probably make my budgeted amount a negative number, but that's fine.  My available money now matches the $1050 I actually need to pay.
    3. I assign the money from Ready to Assign to my priorities, as I would any other income.

    Hope that helps!


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