I use credit cards for everyday purchases but I always pay the balances in full each month so I never pay any interest. I do this so I get rewards and the additional benefits that come with purchases made on my credit card.
When I watched the video tutorials on the web site, the example only used the checking and cash account balances in the starting cash flow balance because you shouldn't make savings or credit cards part of your "available funds". On the mail list, there are also many mentions of creating "Debt Payment" buckets to handle credit card payments. This led to some initial confusion on my part, but I believe the tips from the video tutorial and the Debt Payment bucket should only be used if you have credit cards with balances that you are NOT paying off in full every month. In my case, I actually need to include the credit card balances in my starting cash flow balance. This effectively negates part of my checking account as those funds are reserved for future credit card payments and should not be available for spending. In addition, when I download my transactions and see the credit card payment, I do NOT assign it to a bucket on either side and therefore have no need for a "Debt Repayment" bucket (since I track my credit card accounts in MoneyWell). For anyone else in this same situation, did you handle it the same way? Thanks, Lance --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
