credit card payments

Why don't my credit card payments scheduled under "bills and deposits" show
up on my budget?

Also, I'm leasing a car for the first time. Is it best to creat a loan
account, or just schedule a bill to be paid for the lease? All ideas
considered. Thanks

Mark
Tue Jan 18 16:27:26 CST 2005

On 2005-01-18, Steve Roebuck <steveroe@swbell.net> wrote:
> Why don't my credit card payments scheduled under "bills and deposits" show
> up on my budget?

Because your credit card is probably a budget account. Which is
almost certainly correct. In which case, a transfer from one
budget account (your checking account) to another (your credit card
account) is going to cancel itself out. Whatever expense you have
in the checking account is going to show up as income in the credit
card account.

It doesn't need to be in your budget. What you want in your budget
are each individual expense that you put on your credit card.
Those will show up in your budget.

It's exactly the same as if you had two checking accounts. If you transfer
$5 from one to the other, you're not incuring an expense. It's when you
withdraw from each account that you're incuring an expense. And
those withdrawals are the things that go against your budget.

That help?

> Also, I'm leasing a car for the first time. Is it best to ...

I've never leased a car, so I don't know.

Steve
Tue Jan 18 16:44:45 CST 2005

Ah yes, it's been so long since I actually had a balance on a credit card
that I forgot about that. I've always paid the balance each month so there
was no carryover to worry about.

It seems though that if you want to eventually pay off a card, and you put
it in the debt planner to pay XX dollars a month, that you should be able to
put that item in your budget.

As far as the car lease, nevermind, I've got a handle on that one.



"Steve Roebuck" <steveroe@swbell.net> wrote in message
news:OWeHcTa$EHA.3588@TK2MSFTNGP10.phx.gbl...
> Why don't my credit card payments scheduled under "bills and deposits"
> show up on my budget?
>
> Also, I'm leasing a car for the first time. Is it best to creat a loan
> account, or just schedule a bill to be paid for the lease? All ideas
> considered. Thanks
>
>
>

via_newsgroup
Tue Jan 18 16:50:43 CST 2005

In microsoft.public.money, Steve Roebuck wrote:

>
>Also, I'm leasing a car for the first time. Is it best to creat a loan
>account, or just schedule a bill to be paid for the lease? All ideas
>considered. Thanks

It is usually better to enter the lease payment as an expense.

Dick
Tue Jan 18 19:53:52 CST 2005

Let me give you an alternate answer to the first question. Transfers aren't
budgeted. Expenses--the day you used the card to buy lunch--are budgeted
for. Interest expenses charged to the card are budgeted for. The rest is
just cash flow. See http://umpmfaq.info/faqdb.php?q=53 for some more
background.

"Steve Roebuck" <steveroe@swbell.net> wrote in message
news:OWeHcTa$EHA.3588@TK2MSFTNGP10.phx.gbl...
> Why don't my credit card payments scheduled under "bills and deposits"
> show up on my budget?
>
> Also, I'm leasing a car for the first time. Is it best to creat a loan
> account, or just schedule a bill to be paid for the lease? All ideas
> considered. Thanks
>
>
>