YNAB Credit Card Guide (All You Need to Know)

A step-by-step guide to handling credit cards inside YNAB. This tutorial will walk you through every single detail of using credit cards with YNAB.
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While I love YNAB, unfortunately, it can be pretty confusing. A lot of people will sign up only to get quickly frustrated and then give up never to return. And how YNAB handles credit cards is probably the most confusing aspect of the program. For some reason, it just isn't intuitive for most people, despite the fact that YNAB handles credit cards in the most realistic way possible.
I've never seen another budgeting program out there treat credit cards how they work in real life... except for YNAB. When I finally understand this, it sold me on the program and made me an instant fan.
I hope that this video will do the same for you.
In this video I'll cover:
- How to set up your YNAB accounts
- How to deal with your starting credit card balance
- Using YNAB's goal function to pay off your credit card
- How YNAB treats credit card transactions
- The difference between debit & credit and how YNAB handles them
- How to deal with overspending on a credit card
- Adding credit card interest to YNAB
- Making payments towards your credit cards
- A pro tip for never missing a payment
This tutorial truly is everything you need to know about YNAB and credit cards. I hope you learn something and be sure to leave a comment with any questions you have.
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Quick Jump To Video Sections
0:29 - Setting up credit card accounts
1:36 - Covering the starting credit card balance
3:15 - Setting a goal to pay off your credit card
5:53 - How credit card transactions work
7:36 - Debit vs. Credit transactions in YNAB
13:32 - Credit card balance vs. Available balance
15:00 - Handling overspending on a credit card
22:42 - Dealing with credit card interest
26:12 - Making a payment towards your credit card in YNAB
29:03 - Making multiple credit card payments
29:17 - Pro tip for remembering your payment due date
______________________________________________
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[@barbarahermannster]

Dang, Nick. You are so much better at explaining than the YNAB tutorials. Thanks!

[@mappedoutmoney]

haha, no problem Barbara! Glad the videos are helpful for you!

[@bparrish333]

For real. This has been the biggest obstacle to me sticking with it and he explained it so well

[@benschindler7634]

Nick, after struggling to realize that my "mental" budget was really disconnected to reality I looked around for ways to get a hold of my spending. I tried Mint and it didn‘t really work for me. After watching your videos I gave YNAB a shot and after a month of free trial, I was almost excited to spend the money on this product. Now after almost 6 months in, I have watched your videos countless time, I don‘t even google YNAB questions anymore, I just look for the appropriate video of yours. I agree with many others by saying YNAB should include these videos in their tutorials. Your videos have changed the way I look at my money and spending. Thank you!

[@spencerhyatt]

I've been using YNAB for almost a year but just recently switched to using a credit card for most transactions. This video was incredibly helpful! I fully understand now, and this video answered a question about why a couple numbers weren't matching in my budget. Fantastic explanations, great job!

[@mappedoutmoney]

Awesome Spencer, so glad that the video was helpful. Appreciate you leaving a comment! :)

[@514jej]

True story: We’ve gotten started and comfortable in YNAB because of your videos. Thank you! We decided to add a credit card to the mix, and I tried figuring it out with a shorter tutorial on the subject. A few minutes in I was like, “Nah. I need to learn from Nick. I’ll understand it from him.” And here I am. Keep up the great work!

[@JenellBStewart]

Just started using YNAB 2 weeks now and this credit card thing was soooo confusing because I’m still using my card to get the rewards. I was thinking I had to assign money directly to the credit card category … but then I was like “I’ve budgeted for everything I’m charging so this means I’m budgeting double.” I knew this was wrong but I had no idea HOW to solve this mental dilemma. Now I get it. I also see that YNAB has updated the transaction dashboard and it now says “Record a Payment” - this updates how you’re teaching to make a transfer to the card from the checking. Thank you so much

[@MacAutomationTips]

YNAB has saved me sooooo much money over the last almost four years. For the modest annual subscription, it keeps track of all my spending and income, and because I use a credit card to grow the cash rewards, I use YNAB to keep tack of all my credit card transactions. The beauty of YNAB is that when you spend money it reminds you that you need to actually have money in your account to cover your spending. There’s no surprises at the end of the month. And as you point out, the best thing about YNAB is setting up monthly goals to pay off a debt or prepare for annual or long-term expenses. When my DMV registration, car insurance, or the holidays arrive, I already have the money budgeted for those expenses, so my checking is always at $2k or more. I could talk about YNAB all day. Glad you’ve done some videos about it. I might produce some training videos about YNAB for my audiences.

[@mappedoutmoney]

YES! You're totally right. I'm so glad you enjoyed the video. You're 100% correct about the power of YNAB. I really appreciate you taking the time to comment and watch. Glad to hear that YNAB has been a big win for you :) Thanks so much for stopping by!

[@mappedoutmoney]

For reference, you can download my YNAB Getting Started Checklist here: mappedoutmoney.com/ynab-checklist/ If you want to skip around to the sections you need most, here's the timestamps :) 0:29 - Setting up credit card accounts 1:36 - Covering the starting credit card balance 3:15 - Setting a goal to pay off your credit card 5:53 - How credit card transactions work 7:36 - Debit vs. Credit transactions in YNAB 13:32 - Credit card balance vs. Available balance 15:00 - Handling overspending on a credit card 22:42 - Dealing with credit card interest 26:12 - Making a payment towards your credit card in YNAB 29:03 - Making multiple credit card payments 29:17 - Pro tip for remembering your payment due date

[@ron6967]

Nick, I tried YNAB a few years ago and never got the hang of it. Recently noticed my spending habits weren't working and researched Mint, Quicken and YNAB and once again felt YNAB was the best solution for me. I appreciate the time you have taken to help us understand it. YNAB can be confusing but your video's really help put it in perspective. Thanks, you've helped me and I'll continue working the program. You're awesome dude!

[@tammymarquis7837]

Found this very helpful.....I am going to get back into using....I some how aloud myself to fall off track. Very helpful but also saw that someone else wrote don't forget to actually PAY the credit card, I made that mistake a few times. Can't wait to get started again and your videos are very helpful....thank you!

[@mappedoutmoney]

@@tammymarquis7837 Thanks! I'm so glad that the videos have been helpful for you :)

[@Roman-rc1cz]

It's 2020, and your teachings are still pure gold. Thanks for the info, Nick!

[@mappedoutmoney]

No problem Roman! So glad the video helped :)

[@tanner8291]

I plan to do all my purchases on my credit card and do my budget goals for each category. Let how much I allocate in each category every week dictate the Max I can use the credit card for on any category at any point in time. Then at the end of the month, just take that ending balance and pay it off. This works because each target for all my categories sums up to my monthly income. I’m a salary employee so I know my monthly income and weekly checks. By targeting everything by the week, and then by the month overall, I always guarantee that I will be able to cover the card in full come months end. This video cleared my idea of this plan up! Thanks a ton

[@woodsb123]

Hi Nick, thanks for making this video. I've been using YNAB for most of this year and mostly have the hang of it. One of the areas that I have issues with is credit cards and how to completely input all of the transactions/payments. I'm one of the people who carry a balance every month, however, am trying to slowly pay them off. Up until I watched this video, I would have a problem when entering my credit card transactions/payments. Your video explained everything and answered all of my questions about what I was doing wrong. I'm definitely keeping this video in my arsenal and will refer to it when needed every month until I get this thing figured out!!!!!!

[@mappedoutmoney]

Brian Woods boom! Dude I’m so pumped that this video was helpful for you. That’s exactly why I made it. I wish you all the luck in the world as you get out of debt! Excited for you to get the hang of it my man. Thanks for letting me know that this was helpful.

[@marlaedington6471]

Nick, I’m just starting to watch just your second video, and I must say, I am impressed! I’ve been trying to budget since I’ve been married 23 years ago, mostly failing. The main problem was keeping track of what I actually spend and categorizing it so it corresponds with my budget. I’m using YNAB for the 2nd time (I didn’t like it several years ago before all of their recent updates and move to the cloud version and newer app), and now I will not budget in anything else. I still mess it up sometimes, and still have the bad habit of overspending but hopefully soon I’ll get this right! Anyway, all that to say, your one video I’ve watched was awesome!!!! I’ve watched hundreds of budgeting videos and yours is really good! Thank you! I can’t wait to finish the credit card one I’m watching (because I think I’ve still been a little confused) and find another one! Are you employed by YNAB? If not, you should pursue it. They need to snag you up in a heartbeat. I’ll recommend you!

[@mappedoutmoney]

Thanks Marla! I really appreciate that. haha, no I'm not employed by them. Although I am in contact with them and we partner together because I love to promote their app. But I'm on my own :) I'm so glad the videos are helpful for you. I'm excited that it feels like you can finally get the hang of the budget and truly use it to get ahead. Thanks so much for commenting. It means a lot to know that the videos are helpful. Please reach out anytime with questions :)

[@tamaranyberg2261]

I've been using YNAB for 3 years without fully understanding the nitty gritty of credit card overspending. Your video really explains it so well. Thanks! I love all your videos. For me it's been good to watch them to review how YNAB works. Also recently learned about the tool kit from you.

[@fsullivan5947]

I just joined the free 30 day trial. I went through several of YNAB’s videos but was still feeling a little overwhelmed. I ran across your video and was so relieved. Excellent job explaining steps...so helpful.

[@jcepri]

Fantastic video. I was ready to pull my hair out with YNAB credit cards. I watched this and how I think I got it. Great job!

[@mappedoutmoney]

Haha well awesome. Glad it helped clear things up Jeff!

[@teamfreddy5945]

Nick been using YNAB for about 6 months now. Finally decided to add my Amex and Discover to track and decided this was a must watch. Thanks for the content and I’m happy to say I’ve told people about YNAB and your videos.

[@teamfreddy5945]

Just buttoned up watching the video. One question I do have.. I notice my Amex for example updates as payments and purchases are made... will it auto update when interest is charged in red similar to how a savings account will add interest in green?

[@heathers.6390]

Sitting here (01/02/2021) determined to give YNAB one more try. I tried last year (didn't know about you) and now having watched your videos I have renewed confidence that not only can I grasp this budgeting platform but that it will further enhance my budgeting skills for our household. So THANK YOU!!!

[@smudgeprooff]

Thank you, thank you, thank you. Have spent the last month trying all kinds of apps, spreadsheets, etc. to get budget on track. Discovered YNAB then discovered you, and now I can take a nap. Thank you for taking the time to make easy to understand videos. I watched this one and the beginners one, and my budget is set up and functioning great.

[@racm2023]

Hey Nick & Hanna, I've been struggling to get my finances in order... I come from a country where older generations have zero financial intelligence (living paycheck-to-paycheck is the norm) and plagued with low income. I basically learned just as much. All my life I've felt like I've been: - receiving a barrage of punches (unexpected expenses) - shopping compulsively (Amazon is basically my home page) - uneducated spending (I want it so I get it... I only want it if it's new... New project after new project) With your videos I've learned how to put my finances front and center, to make them a habit like cooking a meal, and to make it a goal to have financial independence. So many people spend their whole lives just working, earning good money, just to end up poor when they retire (if they can), and I certainly don't want to be one of them. My most sincere thanks for the content you are making, it has helped me immensely! Best,

[@gstolley]

For the 1st time in my 40 years of handing our families finances, I am excited, and most importantly, confident I can. I have tried Mint, and Every Dollor, and gave up quickly. Something was always missing, I thought it was me. You just explained in 2 videos, and 1 hour all my past problems. Starting YNAB today. Can't wait to watch all your videos, laster .... after my head clears. Most likely I'll be watching the starter video and this one over a few times 1st. What would you recommend as the next "most important" if you had to choose. We are months away from a 100% debt free life, also for the 1st time. No more house payments! I can't wait to see where we go from here. Keep up the great work.

[@MrNicky2496]

I tried using YNAB in the past and found it confusing and hard to work with and in the end I stuck with using excel spreadsheets. After watching your tutorial videos this makes using YNAB a lot clearer and more understandable. Thank you, this is good content.

[@flamingo.and.co.26]

Nick, thank you so much. Just after I applied for a secured credit card, I saw a post on a YNAB FB group recommending your videos. I watched this video and once I received the cc, followed your instructions! It was so easy when I did my first transaction! Thanks so much for sharing!

[@mappedoutmoney]

Woot woot! So glad to hear this Angie :) I’m excited that the video was helpful for you. thanks so much for commenting and letting me know that it helped you out! Good luck YNABing! :)

[@dianebentley2004]

I've watched this video at least four times, and today I think I fully understand credit cards in YNAB. Each time I watched the video, I found the answer to the question I had at that particular stage of understanding credit cards. Today, I heard the answer to (what could be) my last question. My stumbling blocks were each explained in this video; my mind just didn't recognize the answer until my mind/stage was ready with the question -- hmmm, that sounds a little confusing. :) My last step is to "write/type" it into my procedures (business and personal, each). Then, it will forever be understood, even if I never read the procedures again ... just my learning process.

[@TRD_Mike]

Yet another great video on YNAB. I just started YNAB 2 weeks ago and I couldn't have done it without your videos. Thank you!

[@mappedoutmoney]

Hey thanks! So glad the videos have helped!

[@christinacastaneda5409]

I've been waiting to have a zero balance on my cards to link my credit cards to YNAB. The time is here, thank you for explaining it so simply. Can't wait to start using the cards responsibly!

[@robaer]

Nick, Your videos have really helped me get YNAB setup and operational. It's only been a few weeks but I am starting to see my attitude change about how I am managing my money. I used to have a sophisticated spreadsheet that was excellent at forecasting but crappy at showing me where I was going wrong and spending poorly. I am now finding those mistakes and correcting my spending. I have set goals for my categories and started getting realistic about how the money is spect. It was your videos however that helped me understand the concept of credit cards (how it works in YNAB) as well as get over the idea I needed to allocate my future money to things each month... that I just roll with the paycheques and make sure my goals are accurate so that those dollars will have a job when I do enter that paycheque transaction. Nice work, thorough explanation... great job.

[@Mcphersongirl]

That is a game changer, I was about to give up on YNAB, but this explains it so much better than their videos.

[@akieshafoster910]

Each time I need to remember how to categorize credit card transactions. I rewatch your video. Thank you for creating this great content.

[@waschosen-]

Actually we are not able to pay off credit card debts by setting goal, because interest (the biggest uncertain factor) will be applied if you don't make payment in full.

[@TylerGraceYT]

This is so good, man! I’m 22, in grad school (with less than $1K in student debt) and was considering getting a credit card! I’ve been using YNAB for a few months, and it’s nice to see how well credit cards can be used in conjunction.

[@mappedoutmoney]

Tyler Grace boom! That’s fantastic man. I’m pumped you’ve been using YNAB for a bit. It’s amazing how helpful it will Be since you’re starting so young. That’s huge dude. I appreciate you taking the time to watch and comment. Let me know if there’s ever anything I can do to help or questions I can answer!

[@melbell2125]

Will need to add a YNAB subscription to my budget. The videos are super helpful. Thank you!

[@mappedoutmoney]

haha, yup! Definitely add that. Glad the videos are helpful :)

[@joss7772]

Hey Nick! I just want to let you know that your videos are helping people all over the world including me from Dominican Republic in the Caribbean! Your videos are supper clear and detailed, Me and my wallet truly apreciate the time you take to explain how YNAB works. Keep up the fantastic job!

[@Adamsumma]

Thank you, thank you, thank you! In using YNAB (love YNAB!) and with the great help of your videos, Nick, I feel like I'm getting a huge part of my life under control. What a relief! Also, I am able to pass along this information to my teenage kids, giving them a leg-up before they even get started!

[@mappedoutmoney]

Woot woot Jill!! So glad to hear that :) YNAB is a great tool once it really clicks for you. I really appreciate you taking the time to comment and let me know. I’m excited that you’re going to pass it along to your kids! It will definitely give them a huge leg up. :)

[@donnadawes2372]

Hey Nick, Your first video convinced me to try the free trial month and both videos have made it possible to stick with it without giving up. Thanks so much for taking us through it step by step. Even with great tutorials ynab offers, I would not have persevered without your videos. So kudos!,

[@mappedoutmoney]

Thanks so much Donna! I'm so glad that the videos have been really helpful for you. I'm excited for you to be YNABing! Thanks for taking the time to let me know :)

[@lexymcavinchey7147]

Seconding this.

[@mappedoutmoney]

@@lexymcavinchey7147 Thanks :)

[@lesterhess5955]

Great Video! I just started using YNAB and your videos have helped my greatly. I've gotten way more from this video than the content YNAB provides. Thanks!

[@tinaindia2010]

By far, this is the most helpful video on YNAB credit cards. The info on the website is confusing AF... this is so clear! Thank you!

[@mappedoutmoney]

Haha well I’m glad it was helpful for you :) I really appreciate you taking the time to watch and comment. Good luck YNABing! :)

[@justinbruhn4600]

This was super helpful. They need to hire you as a contractor for training material. Much love, brother!

[@mappedoutmoney]

haha, thanks Justin! I appreciate the encouragement man. Glad to hear the video was really helpful for you!

[@davidhallum1223]

Finally! A video that explained the credit card fiasco in YNAB. It makes sense now that you explained it in perfect detail! Thank you so much!

[@lyricallyt8166]

Love your videos, they really have helped me work in YNAB! Hopefully you are still responding to messages! I have 1 problem I can't seem to figure out when first starting to use YNAB. I use credit cards so I get the cash back - and I also pay my statement balance in full on the due date at the end of the next month. (so I keep my cash in an interest earning account) When I start budgeting in YNAB, I am categorizing money into the checking account for spending that month. (So right now it's March) BUT I pay my balance in full at the end of the next month (April) . Since I am just starting YNAB this month, March, I have an outstanding balance from Feb that is due at the end of March. I can either have money to pay the Feb bill, or money categorized for the March spending, to pay the April bill. I know ideally I would just have the extra $1500 laying around to pay off the bill and have a clean slate, but I don't. I am not wanting to have any interest charges, so I pay the bill fully, but it makes YNAB put my cash to spend in red and confuses me on what to do with my income since I still need to pay other bills. Hopefully you have suggestions for options on how to handle getting ahead of my credit card payments? I am sure there are others in this situation too. I use Quicken to make sure there is always money in my checking account to pay the bills - I am just wanting to use YNAB to track my spending closer and get to the point I am paying off outstanding debt (other then my monthly credit card I use for food and bills) faster. Thanks!!

[@rafikibubu]

This is great man, thanks for posting this. Just started with YNAB to replace my old, by-hand budgeting tool, and the way credit cards work was the last big hurdle. Many thanks! Cheers, ~Nate

[@jennjpetersen]

Thanks for a great tutorial. I've been working with YNAB for a while but it was great to learn what the little icons in the available column really meant. And where the $25** magically disappeared to!

[@mappedoutmoney]

Hey Jennifer! So glad to hear that the video was helpful for you! haha, yes, it's tough to figure out just where that money disappears to sometimes! lol

[@sincerelym11]

Amazing! This may be my 4th time trying to get a handle on my finances with YNAB. Thanks again, now I finally feel like I understand how the credit card payment works.

[@mappedoutmoney]

Awesome Marie!! So glad this was the video that finally made things click for you! Thanks for leaving a comment :)

[@beckyanderson9753]

Thank you! I could not figure out how to make a credit card payment in YNAB. You explained it very well!

[@mappedoutmoney]

Awesome Becky! So glad to hear that the video was helpful for you :) I definitely know how confusing the cc's can be. Glad this cleared it up! Happy YNABing!

[@sequansreviews2039]

Keep up the good work I just started with YNAB and your video are helping I was trying to figure out how to add the credit card payment, your videos are on point keep up the good work.

[@micheleweber7297]

You really are a genius when it comes to breaking down concepts and explaining them. Another great YNAB video!

[@mappedoutmoney]

Thanks Michele! I really appreciate the encouragement. That means more to me than you realize. I'm so glad to hear that the videos have been helpful for you :)

[@janeg1848]

Thanks for the interest tip. You forced me to check how much interest I'm paying every month and yeah, huge motivation to pay off my credit cards as soon as I can.

[@devonpeters8205]

Thank you! I have understood everything except for the credit card aspect (I understood most of it, but there were things Ynab would do that would confuse me). This cleared it up.

[@mappedoutmoney]

Glad to hear that Devon! The credit cards are definitely confusing in YNAB. Happy to hear this video helped you out.

[@geoffaries]

Dear Nick Hello from England! I love the way that you explain the practicalities of using YNAB, the program was rated number 1 by the WHICH magazine in the UK, I have not yet decided as to whether I'm going to purchase it, but I hope that YNAB recompense you for the time and effort that you have put into explaining their product.

[@laurawray7705]

Thanks Nick! You've got the right combination of explanation and example to really help me wrap my brain around handling CCs. I've a few of your YNAB videos now, and they're just stellar! You're my go-to for understanding :)

[@mappedoutmoney]

Woo! That's awesome Laura :) So glad that the videos have been helpful for you. Thanks so much for commenting to let me know!

[@williegeorge2346]

Nick, You really make the action and process easy to easier. You are a great Facilitator.

[@kathrynarnold1966]

Ah... I thought I had watched this one before but had only watched part of it. I see now where I was making my confusing mistake... I was treating loan payments as just payments rather than as transfers.

[@YULABEBE]

Thank you for the excellent and thoughtful content. I became incredibly frustrated trying to find intro level YNAB tutorials on their site; both the language AND content in these tutorials cater to the newb which is of enormous help (to the newb). Thanks!

[@SusanFay-ut9yh]

Fantastic video! I've been off the YNAB bandwagon for several years and your videos are so helpful that I am feeling "armed" enough to jump back on! Very inspiring and empowering -- thank you for your clear as crystal explanations!!!

[@patrickbohlin]

Can you please do an updated version of this video for Mint users trying to switch to YNAB? I imported my data from Q4 2023 and January 2024 and I'm having a miserable experience with this tool

[@jdp5011]

I can’t tell you how helpful this video and the Getting Started video have been... thank you!!!

[@mappedoutmoney]

Awesome, so glad it was helpful for you :)

[@KOSANA76]

Thank you so much for this video! I'm loving YNAB, but I've been having a hell of a time understanding credit cards. I think I get it now!

[@mappedoutmoney]

Of course! Glad it's helpful for you Alice :)

[@JustinSmithXenoabe]

Thanks Nick! I've been confused by this for a long time and this was the first time it clicked.

[@mappedoutmoney]

So glad to hear that Justin! I appreciate you taking the time to comment and let me know that it was helpful for you. Good luck YNABing my man!

[@wc2287]

Outstanding job Nick! Great examples and I'm really glad to be starting over with credit card payments after making most of the mistakes you mentioned on the video. Appreciate the help!

[@mappedoutmoney]

No problem Brad! So glad that the videos are helpful for you.

[@IgniteTheWorld7]

We have watch the video for beginners and this one. LOVE IT! You teach in such a great and easy way to understand. Thank you, Nick!

[@mappedoutmoney]

Awesome!! So glad the video was helpful for you :) I appreciate you taking the time to comment and watch. That means a ton. Thanks!

[@BlueKoinu]

Thank you for this tutorial. Yours was the only one that made sense to me and made it so easy to understand!

[@mappedoutmoney]

No problem! So glad that it was helpful for you. Really appreciate the comment :)

[@aneeshm2]

Thanks for the video; I found the section about how YNAB handles paying off the balance helpful, and it was what I came here looking for as well.

[@kayejanda2884]

thank you!!! I may actually get paying my credit cards right. Your video is terrific.

[@hollisterlaura]

I kind of disagree with the post above (Nick's pinned post) because, though I'm one who pays my entire credit card balance off each month, I found all of the concepts Nick covers in this video very useful. Even the very last concept is important (how to record making a payment on the credit card) and it definitely affects everyone who uses a credit card.

[@donnaowens7692]

Another helpful video! Thank you so much for putting so much effort into these tutorials. Very helpful when I get stuck. No time to figure out how to create goals for shared expenses.

[@mappedoutmoney]

Thanks Donna! Really glad that you enjoyed the video and find them helpful :)

[@jamezzz56]

Great video! Your training is wonderfully in depth. There is one other personal finance app that handles credit cards like this - Mvelopes. However, it is not quite as flexible as YNAB. It tends to want to force you into paying the card off every month. YNAB makes it easier to address different CC scenarios! Nice!

[@mappedoutmoney]

Totally! Another reason I love YNAB. Glad you enjoyed the video. I appreciate the comment. Good luck and happy YNABing!

[@Pellson]

Thanks Nick! It was clear and quick

[@mappedoutmoney]

Glad it helped!

[@Shopgirl2000]

Love all your ynab videos - pls keep making them (even about the simplest things 😊)

[@mappedoutmoney]

Absolutely! So glad that they've been helpful for you :) Thanks so much for commenting and letting me know.

[@juliorgonzalez]

Thanks a lot for this. I really needed it.

[@mappedoutmoney]

No problem Julio! So glad that it was helpful for you.

[@metepolat8162]

Thanks man, super helpful. Watched this and the savings video and feel so much more set up to start budgeting. Really appreciate you putting time into this!

[@mappedoutmoney]

Excellent Mete! So glad the videos have been helpful for you man. I appreciate you letting me know. Good luck and reach out if there's ever anything I can do to help!

[@Raegoul]

Frick.... I wish I had this video when I was struggling to figure out credit cards in YNAB. So much needless frustration.

[@mappedoutmoney]

haha, sorry you just now found it! I'm glad that it was helpful for you now though. Thanks for taking the time to let me know.

[@jenaboone4787]

This was super helpful! Excited to check out your other videos!

[@mappedoutmoney]

Awesome Jena! I'm super glad to hear that the video was helpful for you :)

[@mrmuffin5046]

can we get an update its been 5 years

[@joegarfunkel3851]

Excellent !

[@petmomful2260]

I have been married 44 years, and we have never been able really to budget. What I don't get is this: if you go to the grocery store to spend your budgeted $100, how do you know what you are spending? Are you adding it up as you go? Then do you come home and look at everything on your receipt and divide it up into groceries, and toiletries, or whatever? Or are you just budgeting on paper? Seems like so much work! Do you use your credit card for lots of things, to get the points or cash back, and then go right home and make a payment? My husband refuses to let me do this because he is scared of those high CC bills. Also, my husband wants to buy what he wants, he does not want to worry about whether it fits into his budget. Luckily we are naturally frugal, and we are retired now and are out of debt and living just fine on our pensions and savings. I would, however, like to try budgeting and see if we can do better.

[@mappedoutmoney]

Cool, so lots of questions here. Let me see if I can make sense of them. - As for spending at the store, I keep a counter app on my phone and if something is $2.10 I'll tap twice for 2. Then if the next item is 4.90 I'll tap 5 times. So now my counter says 7. I do this as we go, and it's not perfect, but it gets me close enough so that when I come to the register, I'm in the ballpark. - When I first started I entered toiletries, groceries, household items etc... Basically, most things at Walmart into one category called groceries. I believe this is what most people should do starting out because it's easiest. These days, we group our items together in the checkout line so that the receipt comes out easy in groups of cosmetics, groceries, and pet expenses. I enter the receipt in YNAB into my phone when I get to the car before I leave the parking lot. Takes less than 1 minute and its easy to remember since I just bought it. - We personally use a CC for everything we buy that takes a CC. Some people feel okay with this, others don't. You've got to know yourself and what you/your husband can and can't handle. The points are nice, but it's not worth fighting over. If he doesn't feel comfortable with it, move on. there's bigger fish to fry. - As for buying what he wants, you can still do that on a budget. People think of budgets being restrictive, but they aren't. Budgets are how you spend MORE money on what you want, not less. It sounds like your husband has a mindset problem with budgeting. It's a mis-understanding based on what people think about a budet. But it isn't true. Check out this video I made for a more in depth explanation. Hope that helps :) kzbin.info/www/bejne/Z4bUfWd_fJtrb9k

[@petmomful2260]

@@mappedoutmoney Thank you so very much.

[@mappedoutmoney]

@@petmomful2260 No problem! Let me know if you get into it and still have questions. I know it's confusing, especially at first!

[@DouglasJMack]

Does YNAB auto-import credit card transactions to update the balances? Also, what's the best way of handling transfers from checking to savings throughout the month to then pay your statement balance next month. For example -- I budget $1000 for groceries. I transfer $500 twice this month to a savings account to prep for the $1000 grocery bill. Turns out I only spent $800. The statement comes next month for $800 --I transfer $800 to my checking and then pay off the card. I have an extra $200 in the savings and $200 in my grocery budget that I'd like to roll over into next month, allowing me to spend up to $1200. I hope that makes sense. Your videos are super helpful Nick and I really appreciate all of your efforts and education!

[@TheSpinsterz]

Very helpful. I think after 20 years I FINALLY get how to “pay” aka transfer money to my resort card and how to actually record it. Thanks!

[@LMDixon]

Thank you Nick for this great video! I've been testing YNAB out this month and for the most part I actually like the concepts for their budgeting process. The cc section was really causing me some confusion but your video answered so many of my questions. I'll watching a couple more of your other videos this week to see if you offer any pro tips for becoming a YNAB rockstar. :-) Thank you again.

[@sandypetersen6329]

Thanks so much for taking the time to explain this so thoroughly!

[@mappedoutmoney]

Of course Sandy! I"m so glad that the videos are helpful for you :) Thanks for commenting!

[@lilscraftandthings]

Thanks for the video(s). They have helped tremendously.

[@mappedoutmoney]

Lillie Lofton great! I'm so glad to hear that they've helped you out :) I really appreciate you taking the time to watch and comment!

[@gsp0113]

Feedback: I wish you had handled interest -- which is something everyone who carries a balance has to deal with -- before going into all the convoluted scenarios of overspending and spending money you haven't budgeted for. Not everyone who has just set up YNAB is going to keep spending recklessly on a credit card; in fact, I'd say most will avoid it. But everyone carrying a balance and working to pay it off has to deal with interest. Please consider covering that first. Thanks.

[@mappedoutmoney]

gsp0113 thanks. You can always use the time stamps in the description and pinned comment that I add for all my videos. I’ll copy it below for your convenience. If you want to skip around to the sections you need most, here's the timestamps :) 0:29 - Setting up credit card accounts 1:36 - Covering the starting credit card balance 3:15 - Setting a goal to pay off your credit card 5:53 - How credit card transactions work 7:36 - Debit vs. Credit transactions in YNAB 13:32 - Credit card balance vs. Available balance 15:00 - Handling overspending on a credit card 22:42 - Dealing with credit card interest 26:12 - Making a payment towards your credit card in YNAB 29:03 - Making multiple credit card payments 29:17 - Pro tip for remembering your payment due date

[@tdmac3089]

I still don't quite understand why when I pay my balance in full, the remaining balance in the budget screen does not show the statement balance when I have taken the time to always budget for all my credit card spending. For example, my statement balance ends on the 28th of each month, and the due date is the 25th of the following month. Let's say I owed $574.65 which was spent in February. All of that money was budgeted spending. In March, I spent $725.69, again all budgeted spending. At this point my working balance in the YNAB credit card screen is $1300.34 (725.69 + 574.65) and this is as of the March due date of March 25th. The amount my budget says I can afford to pay is $725.69. On March 25th, I pay the Feb balance in full of $574.65. My working balance in my credit card screen changes to $725.69 (which is correct and I understand that) . HOWEVER, why does the amount by budget says that I can afford to pay is NOT $725.69. It says I can only afford to pay $151.04 ($725.69-$574.65) ! Remember, I have budgeted spending for every credit card transaction. I would expect my budget screen to show that I have $725.69 ready and waiting to pay for the April 25th due date, not $151.04. Right now, it looks like I do not have enough money to pay my balance in full, however the rest of budget shows no overspending or yellow boxes - everything is GREEN!

[@mappedoutmoney]

Hey TD Mac, that's a good question. I'm not sure what's going on here. I read through this a couple of times, and I agree with you, that as long as you're budgeting for ALL of your spending, the amount you can afford to pay should always match the balance on the credit card. Did you remember to budget directly to the card for the initial balance on the card when you started YNAB? If not, that could be messing things up. Basically, whatever the balance is of the card (not statement, the actual working balance on the card) is at the time you start YNAB, you need to budget that money directly to the credit card payment category since the spending doesn't happen in YNAB. If that's not the problem, I'm happy to help. Send me some screenshots of what's going on to nick(at)mappedoutmoney(dot)com and I'll take a look and see if I can spot the issue.

[@marapenfil1142]

Here is my take your question after watching a couple YNAB official videos on using credit cards. When you budget money each month in their separate categories, it doesn't matter to YNAB if you are making those purchases on credit cards, with a check, via Venmo, etc. It just recognizes that you have already put aside money for those specific purchases, no matter your method of purchasing. Therefore, the 574.65 you budgeted for February should be in your checking account (or whatever other accounts you're using) and available for you to pay the credit card with. This money WILL NOT show up in your "available to budget" balance because you have already budgeted it. That area only shows newly available money that can be budgeted, so the $151.04 you are seeing should technically be new money that you have on top of the 574/725 amounts from previous months. YNAB automatically moves money to credit card balances to keep track of where your spending is happening, but again, it isn't separate budgeting (unless you are saving extra to pay off previous CC debt). I hope this makes sense, and I hope it helps! Sorry if I misread your question entirely. I am still new at all of this myself and have been having some tricky moments with credit cards too. Honestly, I decided to change my CC due dates to reflect reality, so I budget at the beginning of the month with essentially a zero-balance on the CC, and will pay off at the end of the month to zero it out again (rather than wait an entire month after my spending actually occurred, cause that's what the CC companies set it up as). We'll see if that helps! Good luck!

[@mappedoutmoney]

Thanks for coming in here Mara :) I appreciate you chiming in with some help!

[@Christian-rt3kg]

Great video!!!! Thanks for taking the time and posting it!

[@mappedoutmoney]

Awesome Christian! Thanks so much for watching and commenting. Glad the video helped you out!

[@janicemercer1293]

Extremely helpful! Thank you.

[@mappedoutmoney]

Awesome Janice! So glad that the video helped you out! :)

[@wendyfrick4211]

Tracking outside the budget! Thank you!

[@rebelleco7291]

Very helpful video! 10/10

[@mappedoutmoney]

Thanks! So glad it helped

[@dianemeredith8810]

great video.. very helpful answered a lot of my questions.. thank you

[@mappedoutmoney]

Awesome, so glad it helped!

[@jenniferabp]

THANK YOU!!!!!! Best tutorial! Timeless info!

[@alpamaret5459]

you are amazing. YNAB should have hired you!

[@pmvtest3052]

I liked this video and found it helpful.

[@mappedoutmoney]

Awesome Pmvtest! Glad it was helpful for you. I appreciate you watching and commenting to let me know.

[@katrinajparker]

Totally helped me with the c/c accounts! Thanks!

[@WORLDLURK]

I get it! Thanks so much, Nick.

[@nikkisartvideos6412]

Super Duper Helpful, Nick True!!!

[@MarianoAgusti]

Hi Nick ! First of your videos that I've watched so far and it was really helpful, let me ask you a couple of questions. 1- How would you do for installments? 2- What about the billing cycle that doesn't match the calendar ? for example if your credit card due date is on the middle of the month instead of the end? You would make the payment as always but the balance on the credit card won't match right? anyway Thanks for your videos!

[@bobbilawless7479]

Your videos have been very helpful. I have been using YNAB for a few months now and love it. But I have made a mess of things. Don't YNAB with a post vacation brain. My cc was off. So I went through each transaction and found a few errors. But then that made my share draft balance off. I feel like my eyes are going to start to bleed trying to find the error. So whats the best option a fresh start or reconciling the accounts?

[@pedalpowerbicycles1520]

Awesome explanation, but I'm confused about credits-like if I return something-is there another video for that?

[@mappedoutmoney]

Yes! I actually do have a video on that :) See if this helps: kzbin.info/www/bejne/fny7aqqEmN2hoLc

[@jesaltrivedi4249]

Nick, you're the best at this. Thanks so much for your care and effort -- I've learned a ton! That said, I have two questions: 1) Do you recommend starting out going full manual inputting to build a habit of monitoring your expenses with a fine tooth comb initially to get your bearings? 2) Should you spend the time added expenses from the past (maybe a month) into YNAB or will that make it messy? Alternatively I would start logging expenses today moving forward.

[@mappedoutmoney]

Hey Jesal! Glad that the videos have helped you out. I appreciate the comment and you taking the time to watch. Now lemme get to your questions. 1) Yes. :) Now, that being said, I think it's important to know yourself. If you're the type of person who will get frustrated and stop because manual entry is a pain. Then DON'T. I'd rather you use YNAB and budget with automatic entry than to not use it or not budget at all. BUT, if you have the discipline to manually enter, it will help you tremendously and force you to stay on top of things. My wife and I have been using YNAB for over 2 years and still do manual entry because it's so helpful to be intimate with the budget. 2) No, I wouldn't do that. Unless you're really really detailed oriented and just love it for the practice, it can be confusing to do this and is a lot more trouble than it's worth. If you feel you must, that's fine, but I don't recommend it. Too easy to mess something up and then get really confused. I would just start today and move forward. If you haven't yet, check out my video on starting YNAB in the middle of a month, I think it'll help. kzbin.info/www/bejne/mKWneqVndradfq8 Again, thanks for watching, and let me know if there's anything else I can answer for you! Nick

[@jesaltrivedi4249]

@@mappedoutmoney Thanks for this info. Helps me tremendously. :) Will reach out if there are any other questions!

[@mappedoutmoney]

Jesal Trivedi sounds good! Happy YNABing! 💪

[@marineb7617]

Super super helpful....Thankyou!! 😊

[@biblethumber4008]

Thank The LORD! 🙌 something that finally makes sense! Watched your first one and this one and I'm convinced I'm getting this system, totally worth it! I NEED this... I live in a motorhome, so wow, birds of a feather! going to subscribe and watch all you other videos! Thank You so much! 🙌✝️🕊🎺🎹🎸🥁🎊

[@kentuckybananas]

Once a credit card is paid off and the account is closed can I delete it from my accounts without messing up the transactions?

[@mappedoutmoney]

Great question! So you don't want to "delete" it, but instead, if you right click on the account, just click "close account" This will take it and move it to the bottom and create a new section of accounts called "closed" and it will keep all the transactions correct and have them in the reports correct. However, you can DELETE the account even after closing, but that will mess up your transactions. If you hover over the delete button YNAB says "If you want to delete this account, first delete all of the transactions in it and transfers pointing to it. Be cautious as this will potentially change your budget values. Here's a pic: cl.ly/46984e485d16 Bottom line: Just right click on it and "close" the account. Then you're good to go :)

[@martystewart1131]

Excellent tutorial, mucho gracias!

[@mappedoutmoney]

Thanks again! So glad you've liked it.

[@nunyabizness1004]

Question - at 19:01 after you reset the budget dollars for Clothing to $50, but before you reset the pet expenses back to $75, I don't see anything that highlights the fact that, for a moment, you are overbudgeted, other than the fact that your future budgeted item got reduced. You'd have to look at the next month where the $50 you had budgeted for gas now only has $25 available. The CC payment is still at $356. Which technically you did not have enough money for without reducing budget somewhere else. It only went back to $331 when you fixed the pet expenses category. That makes me nervous, if you got distracted midway and then spent all the other budgeted money, you could potentially end up making a payment that you couldn't cover. Am I missing something?