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Add receiver credit card

(light music) - Let's talk about credit cards because they are a little different, they don't have a positive balance like checking and savings that feeds the budget. In fact, more often than not they have a negative balance that's waiting to be paid off. So the setup has a few extra steps, but it's pretty simple we'll walk you through it. To add a credit card account, click Add Accounts here. Choose either linked or unlinked, I'll go with unlinked for now. And choose credit card under the account type. We'll give it a nickname, I'll just call this Visa and put in today's balance, remember to put in today's balance not including any pending transactions. Click Next and it's gonna prompt you to decide what to do with that starting balance that you have on that card. Now you could skip this for now, but I really wanna encourage you to engage with this because it is important to decide what to do with that balance. If you are ready to pay that entire balance off this month, go ahead and choose this option here. But maybe you have some debt on the card that you've been carrying for a while and you're trying to pay that off I mean maybe that's why you came to YNAB in the first place right. If that's you what you wanna do is create a goal to pay off your balance over time. And if we choose that option we get a few different options here, we can pay a specific amount every month until the balance is paid off, so if you know exactly how much money you wanna put toward that card every single month and you don't need help calculating that, just go ahead and put that amount in there. But if you wanna play with it a little bit and have some fun you can pay off your balance by a specific date. So this is pretty fun we can do a few things here. I'm gonna go to 2020 here and we're gonna go for January, that's gonna be five months from now. And you see YNAB does the calculation for me and says okay if you wanna pay off this $500 balance in five months, you need to budget $100 a month to pay off that card. Maybe I say oh you know that feels a little steep to me, I don't think I can do that maybe I can adjust, let's go with March. Okay $71 and some change that feels a little better for me. Okay so play around with this have some fun with it and you can always edit that goal later if you decide to change your mind. Click Next and go ahead and add that account and now we've added the credit card account it shows up right here with all your other budget accounts. But the big difference with the credit card account is we also added a credit card payment category. This category is here to help you keep track of what's available to pay on the card. And you'll notice you have this yellow alert here in the available column. That is there to help remind you to budget that $71 and 43 cents. So whatever goal that you set when you're setting up the account will show up right there. And it's to remind you to take care of that. If your balance is zero on that card you won't get that prompt, but you'll have the category added still there. And if you wanna edit that goal you can do that right down here. We know you have more questions about credit card spending, making a payment, and interest. We totally get that, but first we've gotta add those cards so go ahead and get in your budget and add those cards now.