With YNAB...automation is less scary!

With the help of YNAB, I got two credit cards to have ZERO balance. I'd always been pretty good about them, but now it is so much better, since the only charges will already fit in my budget. As a result...I set them up to just pay the entire balance automatically! 

I've never before trusted that I'd for sure have the full amount each month, but with YNAB I can! No longer any need to spend my time making manual payments. Thanks, YNAB!

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  • I’m thirteen months past paying to zero. I have thirteen months of auto-pay under my belt. I still get the gut clench when I see the auto-pay reminder pop in my email. “OH **** I HAVE TO... right... that money is already there waiting to be sent... I don’t have to do anything...” 

     

    Edited by April - YNAB Team  for language - 11/5 :-)

    Reply Like 6
  • The credit card management functionality of YNAB is the feature that sold me on the product.  My last budgeting tool (through my bank) always double counted all my credit card spend - once when I bought groceries on my credit card, again when I paid my credit card bill.  It was ridiculous.

    Paying to zero is an amazing thing.  Pre-YNAB I said I always paid my credit cards off every month - which was kind of true.  I wasn't paying any interest, but I was taking full advantage of the 30 day float.  I would always pay off last month's credit card before it accrued interest.  It took me a while to actually pay that float down, but I've now got it so that I can pay my cards down to zero - any day of the month.  Its pretty amazing.

    Reply Like 4
    • casner
    • Now retired, and figuring out transitions
    • casner
    • 1 yr ago
    • 2
    • Reported - view

    I've been using the PIF autopay for three years, and really like that with YNAB I know the money is there. But since becoming debt free, I've even been paying off the balances early, just because I can.

    Reply Like 2
  • I've been paying off only the statement balance and automatically within a day or two of the due date because I can. My money is in my control for the longest time period it can be. I can do this in great comfort because due to YNAB I know I always have the money sitting in my accounts to pay off the entire balance at any time. I am now able to take the full advantange of credit cards to my advantage rather than the credit card companies like in my earlier years. It's a beautiful thing.

    Reply Like 3
      • casner
      • Now retired, and figuring out transitions
      • casner
      • 1 yr ago
      • Reported - view

      Superbone I played with paying the CC's off quickly, after the blog about making sure I wasn't in float. I wasn't. And it got me a few points on the credit score, from 830 to 840. But not actually worth the trouble, so I let it go back to PIF automatic on the due date.

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    • Jen
    • Budget Expert
    • Jen_c
    • 1 yr ago
    • 1
    • Reported - view

    Congratulations! The calm feeling of knowing the money is just there and you don't have to waste time shuffling it around -- it's what YNAB is all about!

    Reply Like 1
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