Debt Consolidation Loan - Balancing out values

Hoping someone here might be able to help me make sense of how to balance out my account values.



I was able to secure a really low rate term loan from my local credit union, and have transferred the balance of our household credit cards and a LOC over to that as part of our debt reduction plan (I know it's not universally seen as a great solution, but the interest savings were quite substantial and pre-payment is penalty free, so I feel good about that).


The Issue:

I'd like to set up the term loan in a tracked (non-budget) account, and I've put that in with a $0 starting balance, and then created a transfer to each (budget) account. The issue though is that each of those transfers requires a category, I've been putting them into a Debt Consolidation Payment category, but doing so is making my To Be Budgeted amount go negative by the total amount of the loan.

I've tried doing the same setup with the term loan in a budget account instead, but that caused similar issues, so I can't quite figure out how best to balance it. 


Anyone have some guidance on how to get this straightened out?

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  • Use Inflow:To Be Budgeted as the category. Contrary to expectations, this will not change TBB.

    Loan account is a Tracking account. Enter the transfers from each budget account so you can access the category field.

    Move any funds in the various Payment categories (CC Payment group) elsewhere in the budget.

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  • I think I might be missing something here, I've moved those to TBB and am still just seeing the same values, just in a different line now. Here's a breakdown of what I have (simplified):


    Transfer from Loan (Tracking) to CC1 (Budget), Category TBB, $5,000
    Transfer from Loan (Tracking) to CC2 (Budget), Category TBB, $5,000
    Transfer from Loan (Tracking) to LOC (Budget), Category TBB, $10,000

    Loan (Tracking) Balance: -$20,000 (correct)
    CC1 (Budget) Balance: $0 (correct)
    CC2 (Budget) Balance: $0 (correct)
    LOC (Budget) Balance: $0 (correct)

    In the Budgeting section, CC1, CC2 and LOC all have the transferred amount "Available for Payment", and my TBB is at -$20,000. 

    • Graham K The category balance and Available amount are the same thing. Do the various Payment categories have $0 in the third column of the budget screen? If not, then select the categories and hit the "Available to $0" Quick Budget button on the right.

  • So just to try things out, I made a new budget and recreated this scenario, and it works flawlessly, but for the life of me I can't find anything in my primary budget that's different than this setup, so I'm really at a loss for why it's not balancing. Here's a screenshot of the test setup, and the TBB in the budget window is nicely at $0.


    Edit: Added a screenshot of the actual budget showing the same account transfers, set up the same way.

  • Success! Thanks  dakinemaui , your reply helped me find the error I couldn't previously see.


    I because the transfers were done in August, I didn't see that at some point I had ended up having the value of each transfer as the budget amount for each account that received funds from the loan. Just to error check myself, rather than set available to $0, I subtracted the transfer amount from the amount I had in the Budgeted column, and that balanced everything out as expected. Finally the numbers all make sense!

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