Looking for advice on how to set up the category tab with multiple credit cards with balances that I am paying off. Specifically, how should I label the “Group” and the “Type” and if I should or should not “Hide” the transaction? I am working the debt snowball on these cards so I am budgeting a lager amount on one card while I pay the minimum on the remaining.
I label both as Transfer and I do hide the category.
If you link both the credit card account and the checking account used to pay the credit card bill, then both transactions are a wash and net to zero. No impact to net worth upon payment; asset decreases and liability decreases.
Make sense?
Blake