Track credit card spending

spkrause
spkrause Member
Hi there, I want to limit my credit card spending to $x per month. Can I use Simplifi to do this?
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Best Answers

  • DannyB
    DannyB Superuser ✭✭✭✭
    Answer ✓
    You can use Simplifi to track you spending and to sort out your spending into categories, but I think you are the only one that can actually limit your spending on your credit card.  What Simplifi can do is give you a tool to see how much you've charged to your credit card as you go through the month by checking the balance in the account list daily.

    The only other way I can think of would be through a Watchlist, but I'm not sure that can be done for an account like a credit card based on this how-to article.  If you could create a rule to add a tag to any charges on your credit card then you could set up a watchlist using that tag, but I don't think you can create a rule for credit cards like that based on this how-to article.

    Maybe someone knows a work around but those are the only ideas I can think of.
    Danny 
    Simplifi user since 01/22
     Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Answer ✓
    Hello @spkrause,

    Thanks for posting your inquiry to the Community!

    In addition to what @DannyB mentioned, the only thing I can really think of is to create a Tag that can be used on all of the credit card transactions. You can then create a Watchlist based on the Tag and track the spending from there. This will allow you to still use the applicable Categories for each of the transactions, but would require manually adding the Tag. 

    I hope this helps!

    -Coach Natalie

Answers

  • DannyB
    DannyB Superuser ✭✭✭✭
    edited September 6
    @Coach Natalie is there a way to create a rule to add that tag to all charges on the credit card?  Or will this tag need to be added manually for each charge?  Or, and I haven't checked this, can this be done as a bulk edit?

    Edit: Nevermind on the last question, I see you answered that in another post.
    Danny 
    Simplifi user since 01/22
     Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @DannyB,

    Unfortunately, there is currently not a way to create a Transaction Rule for Tags. We do, however, have an Idea post requesting this ability that folks can vote on. 

    https://community.simplifimoney.com/discussion/104/dynamic-tagging#latest

    And just in case someone reading this post is interested in the answer to your second question, yes, you can bulk edit Tags. :smile:

    -Coach Natalie
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