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Messages - Rhuarc

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16
Other / Re: Financier Mobile (Unofficial)
« on: February 20, 2018, 03:45:40 PM »
No worries!  It happens to the best of us!  I'm just happy there is someone who has intent to make sure this program doesn't completely stagnate.  Any progress is better than no progress!

17
Other / Re: How to handle Credit Cards ?
« on: February 19, 2018, 07:10:57 PM »
I'm creating a set of guides to using credit cards over on teh wiki site.  You can check it out if you feel the need!  Hope it helps!

https://docs.financier.io/index.php/Using_Credit_Cards

Love It !!!!!!!  Looking forward to more !   Well thought out and explained.....Even an "Old Fart" like me , can fully understand it...Bravo, Bravo, Bravo.

Cannot wait for the next scenario...

Glad to hear it makes sense!  I'm planning on posting the 2nd set later tonight, and then hopefully the last round tomorrow.

18
Feature Requests / Re: A Place to keep notes....
« on: February 19, 2018, 03:43:08 PM »
Love this idea!  I was just trying to make that color match the color of the month picker using Stylish, but I would much rather have a small month view calendar or note taking or something useful right there!

19
Other / Re: How to handle Credit Cards ?
« on: February 19, 2018, 02:38:53 PM »
I'm creating a set of guides to using credit cards over on teh wiki site.  You can check it out if you feel the need!  Hope it helps!

https://docs.financier.io/index.php/Using_Credit_Cards

20
Announcements / Re: 📝 I need YOU - To help write docs!
« on: February 19, 2018, 02:31:45 PM »
I have gone ahead and created a new section called Guides, and created a guide called Using Credit Cards.The 1st section is up, I'll be working ont he other 2 sections throughout the day.

21
Announcements / Re: 📝 I need YOU - To help write docs!
« on: February 19, 2018, 01:42:28 PM »
I am in the process of writing full examples of dealing with Credit Cards.  I can add this to the wiki if you would like?

Here is what I have so far, and I have screenshots I can add in as well.

Quote
Ok, so I realize I am new to the forums and to Financier, but I have been a dedicated user of YNAB4 for several years.  I'll give my 2 cents at explaining credit cards, and maybe my explanations will help others.  Or it will completely confuse people!

To me there are 3 scenarios when using credit cards.

1) Decreasing amount owed on a CC (making a payment only)
2) Increasing amount owed on a CC (using a CC to cover expenses)
3) Paying a CC in full every month (paying for BUDGETED monthly expenses using a CC, then paying off the full amount)

I will address these 3 scenarios using a sample budget with screenshots.

Scenario 1 - Here we are talking about a Credit Card where we owe something but we are not using to cover additional expenses, we are only paying down the CC debt.  Let's say our minimum payment is $50, but we decide we are going to pay $100 on the card.  We need to account for that in our budget, so we put $100 into that category as you can see here.

Pic2

In the above image you can now see the category balance for Credit Card 1 is showing -$900, but the Account Balance is showing -$1,000.  This means that payment has now been processed yet.  Now lets say today rolls around and the payment to the credit card from our checking account gets made.  We enter that in you Checking account register as such.

Pic3

As you can see the transfer from Checking 1 to Credit 1 does not have a category associated with it.  This is because it is already in our budget.  We are just moving the money around.  Next if you look at the budget you will see the category balance for Credit Card 1 matches the Account Balance for Credit Card 1.  This means the payment has gone through.  Notice you DO NOT see any transaction in the outflows section of the budget for Credit Card 1.  This is normal.  You can tell the payment has gone through when the Category balance matches the Account balance.

Pic4

This process would continue every month.  Budget $100 to Credit Card 1, the Category balance will show $100 less than the Accoutn balance until the payment goes through.  Once it does then the Category and Account Balances will match.

This is all there is to paying down Credit Card Debt!  But wait you say...what about interest?  When your statement comes out you will go and see how much interest you were charged for that month.  This gets added as an outflow transaction to teh Credit Card Account using the Credit Card category as you can see below.

Pic 5

And now when we look back at the budget we can see the outflow in the Credit Card category, and the Category Balance still matches the Account Balance because the payment we budgeted for HAS been made for this month.

Next we deal with Increasing our Debt.

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