How to get spending plan to look at credit card charges just once?

bmk

The spending plan hits me twice for expenses. There are the expenses that I am paying off (sending money to the credit card company for last month's purchases) while also hitting me for the expenses going onto my credit card this month (which won't be due until next). What is the right way to set this up so that I don't have these costs essentially show up twice?

WillTrott

I am not sure if this will technically solve the problem or not, but you could exclude one of the two transactions from your spending plan and/or reports. If you exclude one of them from the spending plan and reports, they will not be calculated in your spending plan but they will still show up as transactions, but it should solve the double charges issue in the spending plan.

I do this with credit card payments because the spending plan was indicating that I was "adding money" with my credit card payments, but really it was just money going from my checking account to my credit card account to pay off a balance, which would not necessarily add money for me to spend.

Hope this helped at least a little!

RobWilk

Credit card payments should be set up with a transfer category (subcategory is the account on other side of transfer). These are called linked transfers and as long as both sides are unhidden (or both hidden) they will cancel out on the spending plan.