Budgets and Credit Cards

I am trying to set up my budget in Money. I have several
credit cards with outstanding balances. I want to set up
my budget to make sure I can afford to make at least the
minimum payments each month. I have each credit card
account set up in Money and my checking account set up.
The payments are showing up under each account fine. The
trouble is I can't figure out how to track these payments
in the budget. The budget appears to be able to track the
intrest paid to the credit cards fine but the principle
portion of the payments does not appear to be accounted
for.

Larry
Tue Sep 28 13:55:30 CDT 2004

You want to use the Debt Reduction Planner in Money. This will allow you to
add all the accounts that you pay each month and carry debt on. The Debt
Reduction Planner will use the minimum payment that you have configured in
the credit card account to calculate the money needed to pay each debt.
Then, in your budget planner you will see a category "Debt" and the total
will be the amount needed to pay all debts that are in your debt reduction
planner. However, do not include a mortgage or auto loan in your debt
reduction planner, because the budget already figures these items in...
don't know why. Probably true with all loan accounts because they are not
considered as traditional debt.

Larry

"Mere" <mdbcontracting@verizon.com> wrote in message
news:01b101c4a587$877cfd60$a401280a@phx.gbl...
> I am trying to set up my budget in Money. I have several
> credit cards with outstanding balances. I want to set up
> my budget to make sure I can afford to make at least the
> minimum payments each month. I have each credit card
> account set up in Money and my checking account set up.
> The payments are showing up under each account fine. The
> trouble is I can't figure out how to track these payments
> in the budget. The budget appears to be able to track the
> intrest paid to the credit cards fine but the principle
> portion of the payments does not appear to be accounted
> for.

Mere
Tue Sep 28 14:35:08 CDT 2004

Thanks. I'll try that.
>-----Original Message-----
>You want to use the Debt Reduction Planner in Money.
This will allow you to
>add all the accounts that you pay each month and carry
debt on. The Debt
>Reduction Planner will use the minimum payment that you
have configured in
>the credit card account to calculate the money needed to
pay each debt.
>Then, in your budget planner you will see a
category "Debt" and the total
>will be the amount needed to pay all debts that are in
your debt reduction
>planner. However, do not include a mortgage or auto
loan in your debt
>reduction planner, because the budget already figures
these items in...
>don't know why. Probably true with all loan accounts
because they are not
>considered as traditional debt.
>
>Larry
>
>"Mere" <mdbcontracting@verizon.com> wrote in message
>news:01b101c4a587$877cfd60$a401280a@phx.gbl...
>> I am trying to set up my budget in Money. I have
several
>> credit cards with outstanding balances. I want to set
up
>> my budget to make sure I can afford to make at least
the
>> minimum payments each month. I have each credit card
>> account set up in Money and my checking account set up.
>> The payments are showing up under each account fine.
The
>> trouble is I can't figure out how to track these
payments
>> in the budget. The budget appears to be able to track
the
>> intrest paid to the credit cards fine but the principle
>> portion of the payments does not appear to be accounted
>> for.
>
>
>.
>