YNAB Tutorial - Dealing With Cash Back and Refunds

[@lindawoodworth9346]

So glad this is on video - I can stop, rewind, fix, keep going…..

[@carolynmadvig4705]

I'm a little worried at how much sense this makes to me! :) YNAB is certainly a helpful tool when you take the time to ensure you're learning each piece as the foundation details have really sunk in. Thanks for continuing to explain the extra points that keep coming up. We appreciate it! Carolyn & Don

[@mappedoutmoney]

Thanks so much Carolyn for the kind comment! I really appreciate you watching and so appreciate the words of encouragement. Good luck YNABing!

[@amandabrophy2869]

I really hope by the end of the YNAB series you will have budgeted enough money to buy those fictional kayaks! *fingers crossed*

[@mappedoutmoney]

haha, we actually stopped and shifted our money to other more important things for the time being :) The power of budgeting! It helps you change when you need, but one day we will!

[@mldforce6113]

So glad to have found this video! I find this to be the most confusing part of ynab and find myself coming back to this video again and again. Thank you!!

[@mappedoutmoney]

Hey! Awesome. So glad you found this video then. It's definitely a confusing part of YNAB. Happy to help :)

[@talentcrisis]

Had my first YNAB refund on my credit card today, thanks for walking me through it!

[@mappedoutmoney]

Of course! So glad this was helpful for you :)

[@natalee6654]

I will need to watch this video every time I get a refund or cash back. I already messed up a few transactions, which is why I prefer to use unlinked accounts so I can manage my transactions better. Great video.

[@mappedoutmoney]

Agreed, I completely understand the unlinked accounts sentiment. So glad that the video was helpful for you N P. Thanks for commenting and letting me know.

[@ms.anonymousinformer242]

Same here. I'm on the last day of month two and had to delete the fake "cash back" acc again because it kept needing a category but despite making payments it kept adding more $ I didn't have to the inflow budget. So I deleted the acc and had to start over from scratch again. Now my inflow budget has more $ than it should have even THOUGH I moved that $ to the card.

[@MagicProductNews]

Your channel has genuinely transformed my financial situation. Gone from struggling to 60 days age of money. Thank you!

[@orchidgarden3124]

I truly appreciate you taking the time to do the videos. I’m learning so much. You are a terrific teacher. I’m feeling more confident that I can budget properly with all of this great info!

[@mappedoutmoney]

Orchid Garden awesome!! I’m so glad to hear that :) it’s great to know when the videos are helpful. I really appreciate you taking the time to watch and comment letting me know :)

[@cobysmith3179]

Thank you for your clear explanation on the cash back rewards. I just had one from my credit card and was reading on the YNAB forums how to handle it and I was just getting confused since no one talked about moving the money out of the payment category to be budgeted. I was trying to figure out why my payment listed was way more than I owed. I have it all sorted out now...THANK YOU!!!

[@mappedoutmoney]

Awesome Coby! So glad to hear that the video cleared that issue up for you. I've definitely been there before and I know how frustrating it can be. Good luck man and thanks for letting me know that it helped!

[@RoxiieSays]

I just came bank to look at Nick’s vid because I budgeted more than I owed and couldn’t understand why. This comment was the first one that I saw and solved all my confusion. Thanks!

[@entweetlefamily]

Suuuuuper helpful. I was getting ready to post on your CC video questions about how to do this until I realized you might have made an entire video about it. You're kinda amazing and helping this old mom figure out how to do all this stuff. Great job! I'm excited to see where you go with your career... I have a feeling you'll do some really big things on camera, if that's the direction you choose.

[@mappedoutmoney]

Hey thanks so much for those kind words! That means a ton to hear. Really glad that the videos have been helpful for you :)

[@entweetlefamily]

@@mappedoutmoney I have learned so much and when I'm feeling like I'm just not tracking, I start the video over again until I get it. I wish I would have had this in my life 25 years ago. Better late than never. Thanks for commenting and hopefully we'll have enough saved to drive from KS to AK next summer and get in some epic hiking and sightseeing!

[@mappedoutmoney]

@@entweetlefamily Love it! That's the right attitude and if you start budgeting now, I think you will be able to get some epic hiking in!

[@likhan.ghosh.]

Cashback really messed my comprehensive YNAB….. I would categorise the statement credit as Inflow To Be Budgeted. However when you have a busy YNAB, it’s hard to remember to manually move the cashback out of the credit card budget. Wish there was an easier way. But thank you. This video really helped

[@mappedoutmoney]

Yup, it’s definitely a bit tricky. But glad this helped!

[@saberei71]

Nick to the rescue again! Glad I'm not the only one who has had to just change the date to make it work. Now I have more tools to process refunds correctly! Thank you!

[@mappedoutmoney]

Thanks Stacie! So glad that the video helped :) And yes, sometimes you gotta do what you gotta do :)

[@alissaraboin4956]

Thank you!! I've been piddling over how to deal with this stupid .84 statement credit and this solved it for me.

[@mappedoutmoney]

haha, awesome Alissa! So glad this helped :)

[@debrarodgers1725]

Nick's video helped me to handle a refund on YNAB that had me totally confused. Thanks so much!

[@mappedoutmoney]

Awesome Debra! So glad it helped :)

[@Jlharrell1981]

Excellent video, as always! And a simple fix to my question. Keep it up!!! Thank you!!!

[@MRemes]

Hey Nick. Thanks for this video! I've been using YNAB for years (Classic Version) and never realized I could use 'inflow' in my catagories to reflect a refund. Duhhhhh. Silly Grandma. Used that feature right away today after seeing your video to reflect a refund on some boots I returned to wait until they went on sale. Game changer!!

[@mappedoutmoney]

Awesome M. I’m so glad to hear that the video helped :) It’s definitely confusing at first, but so glad you’ve got it! Thanks for commenting and letting me know that it was helpful :)

[@FoyLo]

Hello Nick. Great video again. Here are my comments. You are a great communicator, but I thought the navigation was a bit too fast, especially towards the end. I realize that since it's a video, viewers could rewind if they missed something though. Also, I personally don't like having background music on this kind of video; I find it more distracting than anything else. But it's a personal preference. I really like that you offer different options and explain the + and - of each other one ; the viewer can then decide by himself what's his preference. My 2 cents! Keep the good work! Louis

[@mappedoutmoney]

Louis Foy I appreciate it! Yes, I definitely edit it expect people who are really following along to pause. And the reason is because most people are skipping around and leaving. I know it’s a lot of info, but I don’t want to keep putting out 30min videos 😂😂😂. It’s a balance though for sure! As for he music, yeah I’ve gone back and forth myself on it. I personally like it because I feel so often without music videos start to drag and become less engaging. But I also understand the argument of distraction. I appreciate it and will keep trying to do what’s best. Thanks so much for watching Louis and for thoughtful response.

[@FritzOettinger]

Solid video. I’m a bigger fan of using cash back as Savings rather than Inflow brocade it throws of my Income statement. It also sets me up to not spend the cash back.

[@mappedoutmoney]

Totally Fritz. I get that completely. All about using the cashback in a way that makes the most sense to you. Whatever you can do so that you spend the cash back/save it in a way that's most efficient is the best. Thanks for watching!

[@BU_89grad22dad]

Another excellent explanation - thank you! Also, I introduced my youngest sister to YNAB through your videos. She signed up yesterday (two free months and one for you, I hope!) Thanks for your insights!

[@mappedoutmoney]

Thanks Scott! I seriously appreciate the support. For real, that means a ton! And yup, it'll help me too! Glad the video was helpful for you my man. Happy new year!

[@BU_89grad22dad]

@@mappedoutmoney You're ever so welcome, and may 2019 find you and Hanna with those kayaks as a small reminder of His goodness with more on the way.

[@mappedoutmoney]

@@BU_89grad22dad haha, I have no doubt that His goodness will come whether we have kayaks or not. But yes, hopefully, those come too! ;)

[@eca712]

Thanks for these videos. Please consider doing a video for expenses or parts of expenses that will eventually be reimbursed, and for expenses that someone else fronted for you (i.e., you need to reimburse them). My partner and I use Splitwise to keep track of shared expenses and I'm struggling to understand the ideas that are circulating around the internet. Thank you!

[@mappedoutmoney]

eca712 sounds good! Yes. This idea is on my list of videos to make. Dealing with splitwise can definitely add another level of confusion. If you give me a specific example I might be able to help you out in comments for now though! Happy to help.

[@coco_on_29]

I am so so grateful that you do this. This is incredibly helpful for a new YNAB-er who wants to do this right and marie kondo my money! I have liked a lot of your videos and subscribed today :) Thank you Nick!

[@mappedoutmoney]

Hey thanks C.N. That means a ton to me! Really appreciate you watching and subscribing. Happy budgeting!

[@Healthhomehappy]

Nice! You cover everything! I had put my cc rewards at ‘interest and fees’ wrong 😀 I’m going to fix it!

[@mappedoutmoney]

haha, thanks! So glad that this helped you find the right place to put it :)

[@mappedoutmoney]

For reference, you can download my YNAB beginner's checklist here: mappedoutmoney.com/ynab-checklist/ I cover both cashback and refunds in YNAB, so if you want to skip around to the sections you need most, here are the timestamps :) 0:33 Cashback direct deposit to your bank 1:22 Cashback as a statement credit 3:45 Cashback if you don't pay your card in full 4:32 Refunds during the same month of purchase 7:25 Refunds across multiple months 9:23 The most common refund mistake people make 11:13 How reports work with your refunds

[@Dusbtep]

I generally budget the cashback towards the category it came from, if it's easy to track (assuming the cashback is added to the credit card balance). Say I budget and spend $50 on gas, and receive a $5 cashback from this purchase, I add a $5 inflow to the gas category. This results in $5 available for gas according to the budget, -$45 activity in this category, and -$45 to be paid on the credit card. I prefer this method, as it more accurately tracks the true expenses. I have a dedicated CC for gas purchase, obviously this method doesn't work very well if you use a single credit card for multiple categories. Edit: Kept watching the video. I handle CB like you handle refunds (first example). I add the cashback from last month to the current month, as it appears, so it's not 100% accurate, but over time it's good enough for me.

[@mappedoutmoney]

@@Dusbtep Love it. Ultimately, you've gotta do what works best for you. The problem with that method is like you said, if you use a credit card like I do for all your purchases, it's impossible to know what contributed to what. Also, if you're used to budgeting $45 for gas, but then something happens and you need to switch cards, or that company changes their rewards system, you're back to $50... It's really not a huge deal though. If it works for you, that's great! Keep on keeping on.

[@katereiber]

How would you handle a refund for a transaction that happened before you started using YNAB? (ie I bought curtains in July, started using YNAB in August, and returned the curtains in September)

[@courtneymiller2768]

This helped me so muchhhhh. Thank you. I was putting refunds in TBB and it was throwing everything off. Much appreciated!

[@thatoneguyis]

Thanks for the video, I feel confident in CC refunds but don't deal with them for months then don't again. Progressive got me with a portion of CC refunds 3-4 months after the big transactions. Wonky and confusing

[@mappedoutmoney]

Totally understand that Paul. It can definitely be long times in between. Glad the video helped!

[@chidenchi]

Thanks again for all these videos Nick. You’re the only youtuber I don’t skip the ads on, hoping you get a little more scratch if I let them run their full length. Question on the statement credit section that confuses me. Since you’re not applying the statement credit back to the category you’re spending against, doesn’t the method you describe mess up reporting? Yes you spent $500 but, net net, you “spent” $425 on groceries. Won’t your reports show $500 spent on groceries?

[@mappedoutmoney]

Hey thanks Bill! That means a ton to me. It definitely does help and I appreciate it more than you know. Okay, so for your question, I totally get what you're saying. And yes, I guess it can mess up your reports, but it depends on what you call messing up. You're correct that net net, you spent only $425. But in reality, you did spend $500 on groceries. Meaning, it cost $500 to feed your family. In my opinion, I would rather have my reports accurately reflect how much it costs me to live (because if I was using a debit card I would still need to spend $500 to feed my family). Then I just show cash-back as income in the reports by putting it into TBB. Ultimately, it's a personal preference thing and you could definitely apply it directly to groceries. For me personally, I'd rather show spending in full and then inflate my income with the cashback rather than deflate my spending. Hope that makes sense!

[@chidenchi]

Nick True - MappedOutMoney Ah, ok I can see that perspective now. A sincere thanks for your reply and filling in the gaps in my understanding. These statement credits are how Chase makes the annual fee less painful by reimbursing up to $300 in travel expenses (now grocery during covid since were all grounded). So you’re right, I spent X on groceries and once I’ve hit that $300 credited back I’ll again be paying “full price” in those categories so I better budget for them accurately and treat the credits as bonus TBB cash. Thanks!!!

[@mappedoutmoney]

@@chidenchi Bingo! :) Glad that helped Bill, and glad that you're getting that extra $300 from Chase!

[@juliorgonzalez]

This explanation was just what I needed!

[@electricpenguins3377]

Hi Nick! I love watching all of your videos...got everything pretty much down, but for the first time I have a return in a different month AND the card was already paid. I inflowed the return to the category....then it made my credit card available amount in my budget overspent. The actual card balance is positive. Do I just move my category positive balance to TBB and then cover the credit card overpayment? Thanks!

[@ANYTHINGIWANT100]

So helpful!

[@mappedoutmoney]

ANYTHINGIWANT100 so glad it helped! :)

[@DanG15803]

Nick - I followed everything you said regarding refunds, but it's now showing that I have assigned more than what I have. These purchases were made on a debit card, not a credit card.

[@user-nr2ku9dk9b]

Hey Nick, You helped answer my questions in other videos. You're quickly becoming one of my favorite KZbinrs! I have a question about bank interest. What I've been doing is when my bank interest comes in, I just manually input the transaction under the specific account and put the money in the TBB category. However, when I get bank interest in my Emergency Fund account (all the money in this account I just store in my Emergency Fund category in ynab) should I also put this money in TBB? Or can I just put the money straight into the Emergency Fund category to match the balance of that account? I've been doing the latter. Also, the interest comes in on the last day of the month. Should I be backtracking the transaction to accurately reflect the day the interest posts in the account? Or can I do it when I see it in April? Does it even make a difference?

[@mappedoutmoney]

Hey Jake! Good question. So, I personally wouldn't categorize the interest directly to the category for the emergency fund. I would also put that in TBB and then move it into the emergency fund category. The reason, is that down the road, in your reports you want to see all of your income categorized correctly. Granted, I know it's likely a small amount, but it still matters if you want to be accurate. So all income (even interest) is TBB, then moved somewhere. The only time you put an inflow directly to a category is for returns, reimbursements etc... Like I show in this video. If it's income, then TBB it goes :) As for backdating, that's really up to you. It doesn't make a difference either way. I would do whatever makes the most cents in your head ;)

[@jmercede]

Very helpful! You're so great!

[@mappedoutmoney]

Haha thanks :) glad it helped you out! 😉

[@ambersawyer6305]

It still confused me why you would leave the $100 in clothes the following month...the money was returned to a card...not a checking account so technically can't be budgeted the same as it is a credit on a card not cash in your bank account...unless you do actually spend that $100 on clothes the next month...I think it would be harder to remember to pull the $100 from clothe category to put towards groceries you put on the card that the credit was applied towards

[@dolcevita9382]

Thank you for these really helpful videos. I like the ones better where you don´t play music though.

[@mappedoutmoney]

Thanks for the feedback!

[@smallscreenfilms]

Fantastic video! Thank you so much. I have one question though. I have just set up the budget so I am starting out with the outstanding on my credit card and not individual transactions. I have a refund from Amazon on the credit card. How do I enter this refund in transactions given that I don't have a specific transaction to reverse?

[@ROKYNROBYN]

I have the exact problem! I hope he has a minute...

[@chrisjacobie2775]

Hey Nick, I LOVE this channel and your videos. Quick question about the cashback as statement credit example: does reporting reflect this cashback as an income?

[@ethancushing7771]

Trying again with YNAB and these videos have given me the faith that it's actually possible. But i think the biggest question is, did you ever get that Kayak??

[@mappedoutmoney]

haha, actually no! We were pretty close and then really looked at our budget and decided we wanted to use that money elsewhere. Kayak's became not top priority. So one day, maybe we'll have some, but for now we've focused elsewhere. That's the beauty of budgeting! It helps you decide what's best to do with your money, even if that changes sometimes :)

[@davemahoney6725]

How do you handle getting cash for a refund like Costco does

[@mappedoutmoney]

Hey Dave! You can either: 1) Create a cash account in YNAB and track it and therefore add it to that account. 2) Just not add it to YNAB at all, and use that money for groceries later on down the road but still have to show paying for the item in YNAB with your card or bank account. Unfortunately, those are really the only two options you have

[@dereksjostrom1927]

I think I I have a slightly different scenario than what you explained in this video. I made a couple of CC purchases (In January), then I paid my CC in full (in February). After doing so, I returned items from each of those purchases (in February) and got a statement credit back for those returns. Now when those statement credits come through, they add that money back to my line items and also my TBB shows that same amount less another CC purchase made since the CC payment was made. It seems like I am getting credited twice for those returns. Plus I now have a green amount available in my CC Fund which I no longer need because the statement credit has, in essence, covered that purchase. Do you have any advice on dealing with this scenario? Thanks!

[@dereksjostrom1927]

My issue seems to have resolved itself overnight. The CC line suddenly reflects -$182.70 instead of +$36.58. And I was able to budget the $182.70 from TBB to the CC line to zero it out. Now I basically have $182.70 to spend on my CC before I need to fund it for payment. I tested this out with a fake $200 CC transaction which funded the CC line $17.30 for payment. I literally changed nothing and it is now acting as I expected it should.

[@tyu3456]

$500 at Walmart??! Sounds like some overspending on groceries ;) jk jk. love your videos btw!

[@mappedoutmoney]

tyu3456 haha maybe buying groceries one a month ;) Thanks 🙏

[@heatherrenee729]

@@mappedoutmoney Haha...probably not much space for once-per-month groceries if you live in an Airstream! :p

[@lakeisharhyant2045]

I returned an item I purchase Pre-YNAP. I read and watched articles. I'm slightly confused on what to do.

[@DreamWRLD22]

I’m not understanding.. I can’t withdraw my ready too budget money out back into my bank account.

[@commanderjoy4927]

Would love to understand the benefits and differences of either linking your accounts or entering everything manually. Is one strategy better than the other? What is the workflow like if you use both? Not sure if you cover this in detail in one of your videos. thank you.

[@SgtSam1]

Thanks for the vid, but I could use more help. Here’s my scenario: I just started using YNAB in Feb. I have no data for Jan budget. A refund for a purchase on my CC from bk in Jan just came thru today. I have no idea what to do with it/how to categorize it. Please help. TIA!!

[@chele850]

So, I'm new (your videos are a godsend btw). So we pay in full, but also received a refund for some airline tickets. Some of that is applied to our current CC pending transactions, but the rest (the -$ on the CC website) I requested to be transferred back to my checking account (less than the actual refund). HOWEVER, the purchase isn't in ynab because it was before 4 days ago when I started. What do I do? The credit/inflow shows in transactions in ynab and wants a category. I'm also in between months... The CC is RED for July (random amount) and 0 in August (no change in TBB). Since I don't actually have the refund (applied to outstanding balance), how do I put this in ynab? Thank you!

[@stevepekar6120]

How would u handle a refund for an item that wasn't previously budgeted for? I got a credit on my credit card for a refund from Geico. I need to reduce my total on my credit card but the money doesn't really go back to any account.

[@mappedoutmoney]

Hey guys, somehow this question slipped through the cracks. So, you have a couple of options here. I try not to overthink too much in these situations, since ultimately, getting bogged down in the weeds doesn't help hit your goals. Instead we should stay focused on higher level stuff. That being said, here's a few options, you can pick one that makes most sense for you. 1. For this one time only, simple add it as To Be Budgeted, just like you would a paycheck, but do this on the CC account if that's where it's at. This will just simply lower the balance on the credit card. Which means if you have funded all of your categories, you will now have more money in the credit card payment category that can be used to pay the card, than the actual balance of the card... If that's the case, you can just transfer money from that category up to TBB or to another category of your choice.... If you're in CC debt, then you can just let the refund reduce the balance by using TBB and then just keep moving. 2. You could also follow what I do in this video and put it on a category that it WOULD'VE been on. For example, Neal might have the category as "medical" and have the credit as an inflow there. If you do that, you will also end up with a positive amount in the available column of that category. At that point you can just move it wherever you like. The only downside here is that if you look at the reporting section, the amount you spent in that category since starting YNAB will be reduced by the amount of the refund we just added. Hope that makes sense guys!

[@2susanj]

Hi Nick, Enjoying your videos, so helpful. I have a question, want to make sure I do it right, just beginning to use the app. I ordered something online and accidentally ordered three instead of one item. The company has refunded two of the charges. They appear as cleared on my credit card but the original charge for the three is on a statement that is due the end of the month. I have already set aside money to pay in full including the two. Do I only pay for the one and deduct the other two from my bill? What happens if I'm not able to do that and end up having to have the 'refunds' on my next statement. Thanks for your help!

[@2BOS2]

Another very helpful video. I restarted again on YNAB b/c I got frustrated with various things. I re-started budgeting in the middle of the month. I bought something at Target with Target Credit Card in the beginning of the month, but I returned it in the middle of the month. In this case, do I just enter an inflow transaction under Target Credit Card Account? Is that all I need to do?

[@mappedoutmoney]

Hey there! The main thing is you just need to add the inflow back to the category that the spending was in. So if you have a category for target and that’s where you spent the money then the inflow goes back into. The reimbursement just needs to be categorized directly to the same category that the original spending was in. Make sense?

[@2BOS2]

@@mappedoutmoney Got the part about recording the transaction to the same category. I have a different question. I noticed at 11:09 under Amex Blue Cash, there is -$100.00(negative) and Discover It is $500 (positive) under Activity. I've watched your longer credit card video 3+ times. And all the credit card activities in that video stayed +/positive. What caused it to be -/negative under Activity. Was it b/c of the return/refund? I looked at 10:43 when you move the $100 to be bugeted, the Activity still stayed -$100 (negative)

[@mappedoutmoney]

@@2BOS2 Great question and good catch. Yes, that has to do with the refund paid directly to the card and the fact that it happened in the month after we made the purchase. If you go back to 825 in October you see a positive $100 in the CC category and then the next month there's a -$100 in the activity. Those two offset and in November at 8:38 you see a -$100 in activity and $0 in available. Credit card categories are setup opposite of most other categories. Example: Most categories: When you spend money there's a negative in the activity column. Credit Card Payment Categories: When YNAB moves money from another category (like groceries) to the CC, it's a positive in the activity column which is why most of my videos show positives there. However, when you make a payment or have a refund and apply that to the CC, it causes a negative in the activity column. So whenever you have a refund and no spending to offset it, the activity column net will be negative. You would also see a net negative in that column if you overpaid your cc based on what you can afford to pay (in other words, if you paid more to your credit card than what's in the available column for your CC category). Hope that makes sense!

[@2BOS2]

@@mappedoutmoney Thanks Got it!

[@mappedoutmoney]

2BOS2 sweet! Good to hear.

[@annajajic4613]

My credit card gives me air miles,So when I buy groceries it asks me if I want to delete my bill by ,say,$40. So my final grocery bill already has the $40 off and it never goes through the bank or credit card. How do I manage these bonuses? Thanks Anna

[@doxiedonna]

Hello Nick, Does it make a difference if you paid the card off and then did the return? For example, I bought a USB hub for $17 on Mar 20. Then I paid the credit card bill on Mar 30. However, a week later the USB hub stopped working, so I sent it back to Amazon for a refund on April 10. Do I enter this refund in YNAB like you entered your shoe refund? Thanks so much for your time and help!

[@Chase_Anderson]

Hey, similar situation but what about points? Here is an example. I have a CC at our grocery store to get 3% back there in points. I bought groceries yesterday for 238.50, but used 230 in points so I actually only paid 8.50. The kicker is the 230 isn’t an inflow, they just knock it off the top, so my only actual transaction is 8.50 spent on card - but i am reluctant to only put 8.50 in the account as I want to accurately see what we use in groceries. I’m thinking manually add inflow on Cc of 230 to be budgeted then maybe add 2 transactions to CC, one for 230 to wash the inflow and one for 8.50 to reflect the actual charge and while phantom 230/230 activity the totals would match? Then my reports don’t show I only ate 8.50 this month lol? Hope that makes sense.

[@mappedoutmoney]

haha, great question. Yes, in this case, I would do that. Just manually show the inflow as TBB of 230 and spending of 238.50. That way the report is right and the bottom line account is correct. As long as the account balance is right when you're all done, it should work!

[@Chase_Anderson]

So the credit card balance is correct with the 230 to be budgeted and extra 230 expense, but it looks like my available for payment is 230 higher than the balance now... not sure how to true that up? And maybe I just ignore the points but then groceries only $8 lol

[@karlawashington5795]

Is the cash back instruction the same if taken from your checking accunt? Bought an item in person that cost $8, then asked for $20 back; can't figure it out 😞

[@PidasianHippie]

I have thought of getting one of the credit cards that pays cash back but I have a huge fear of running up credit and not being able to pay it back. It took me several years just to get a credit card after having paid off all my credit.

[@mappedoutmoney]

Absolutely. This is definitely only for people who feel super confident with their credit cards. If you’re at all concerned, I’d much rather you stick with debit and just keep on keeping on. The little bit of cash back isn’t worth it. I think you’re being wise :)

[@PidasianHippie]

​@@mappedoutmoney Thank you. I do earn points with my debit card but have never done anything with them.

[@mappedoutmoney]

Pidasian Hippie well maybe it’s time to log into the account and see what you can do With them!

[@PidasianHippie]

@@mappedoutmoney Hahahaha. You are right.

[@mappedoutmoney]

@@PidasianHippie :)

[@nextgenerationsteelbuildin6144]

I hope you can answer this cuz I made a boo boo. We took cash money (not in the YNAB program) to pay our CC one month. The Problem lies with I accidentally deposited the money into an account that NOT connected to ynab (business) and now I don't know how to record this CC payment into my YNAB. Can you help me please? TIA

[@johnfriel3776]

Hey Nick perfect video for me as had a few items I have recently returned and so awaiting the ££ to be refunded to my Bank Current Account via my Debit Card. So my question is I have returned this item today 28th July and as such entered it into YNAB as per your video (using same. Category as original purchase and moving subsequent additional funds back to available for budgeting. My question is what should I do IF these funds don't CLEAR into my Current Account untill say the 3rd August? Do I leave the transaction in July and just click cleared when it occurs? OR do I move the transaction to 3rd August (or what ever date it may be that I have clear funds back in my account)? As technically the ££ won't actually be available for me to budget/use untill such time as I have it within my Current Account? Hope this make sense. Cheers 👍

[@nwalter08]

Thanks Brah

[@ms.anonymousinformer242]

Is there a walk through how to do this on the phone app?

[@Botzz28]

I absolutely can’t stand how credit cards work on ynab. They need to make another type of system. Other than that it’s amazing

[@mappedoutmoney]

Really? I love the way they work. It's the only budgeting tool that treats credit cards how they work in real life. But I get that it's super confusing at first. Keep working on it, and you might find you like it in a few months. Happy YNABing,

[@Botzz28]

@@mappedoutmoney i will...otherthan that i love it... i just got an intrest charge to my apple credit card.. how do i add that to ynab ?

[@mappedoutmoney]

@@Botzz28 Add a credit card interest category (normally to your debt group) and categorize it there. Treat it just like a bill that you categorize and budget for like anything else. Be sure to check out my video on Credit Cards, I've got a whole section on this that will help!

[@marcalnardelli5828]

Give LIKE without even watch the video lol I always had this doubt! But in the case you pay something to someone using one form of payment and receive the payback in another payment form

[@mappedoutmoney]

Hey You found this video too! :) Glad you liked it! Here are the steps to dealing with this situation! Step 1) Buy item on your credit card. Example: A meal for $20. Step 2) Create a category in YNAB called "Reimbursements" and add the transaction to YNAB and the categorize it as a reimbursement. Now you have a -$20 overspending in that category. Step 3) Persons gives you physical cash, or Venmos you money, or uses cash app etc.... Step 4) You transfer that money to your checking account (or deposit it at the bank). Step 5) Add that transaction to YNAB in the checking account. DON'T Categorize it as "inflow to be budgeted." Instead, you'll categorize it as "Reimbursements"

[@marcalnardelli5828]

Nick True - MappedOutMoney thanks a lot for the tip. I will try this! And you are sincere when told you answer the questions. Keep this good job!

[@mappedoutmoney]

Marçal Nardelli haha thanks man! Always glad to help. Good luck YNABing!

[@mappedoutmoney]

Hey Marcal! Just wanted to follow up here. I actually just released a video on reimbursements that fully explains all of this in-depth. I think it will be helpful for you plus I cover what to do if someone pays you back with another form of payment. Thanks for the great question! kzbin.info/www/bejne/mmKqgpWvqc-dadU

[@reneescraper5836]

Hey Nick. Scenario: I just started YNAB this month. We have decided to cancel a business trip and was refunded the convention ticket cost. My credit card balance was around $210ish and I had already made my payment this month ($56 **paying down debt**) The refund hit for $345. My card was paid off AND given a credit of $189.58. So YNAB has recorded this as outflow (payment) to my credit card (asking for a category) but has put me in the Red and is stating I have Overspent this month. SINCE I do not have a previous transaction to help offset this credit, how do I handle this in YNAB? AND do I need to create a category for this, then hide it maybe? Please help!

[@dylang7927]

Soo, question. New user here, and I have been refunded for a purchase made before i set up all my accounts. Not sure what to classify the transaction. I want to show the balance on the credit card to go down but i don't want to put the money back in my budget. Or do I?

[@yeseniarusso5190]

Ok Question - How do I input a refund on a purchase that was done before I started YNAB. I just had $200 refunded to a credit card (that is almost paid off but not entirely) for a purchase made months ago. It's trying to assign it to a category or to be budgeted but it doesn't belong in any category or in the budget cuz it's just going to the balance. Does that make sense?

[@lorenamimi410]

If i spend $30 whats 7% cash backk please help

[@svboyn]

Hi Nick, a unique scenario that I was looking for an answer is when I get a refund on something that I bought before starting YNAB. I decided to treat it as a cashback, without assigning category since it was never bugdeted for. Would that be correct course of action? thank you

[@mappedoutmoney]

Good question, what you did is fine. In this cases I either do 1) what you did and treat as cash back 2) delete the refund transaction altogether and manually increase the original starting balance of the account to reflect the balance with that amount already included. Basically in number 2 I just force YNAB to show the purchase and return happening before starting YNAB so I don't have to deal with it. But nothing wrong with what you did either!

[@tabithadente7139]

Dude, your videos are great and full of great info, but you talk TOO FAST and I can't process what you're saying! I have to go back and listen over and over again to understand it. And you move too fast between screens and in the budget...

[@mappedoutmoney]

Haha sorry Tabitha. I Do appreciate the feedback. Hope you can find some other videos that can help. Thanks.

[@krashbars]

Haha, I thought it was just me. Yeah, I've had to rewind a couple of times on several of his vids. But the content is great and I'm learning how to use YNAB, on the 2nd try. Gave up the first time but I think I'll be able to stick with it because I understand it now. Thanks, Nick!!