I have searched this out, read several posts and replies, and my mind is just not wrapping around it.
My situation: I am at the tail-end of paying off my credit cards. I have paid $12,000~ since August 1st and I have another $2,000 to go (just a couple more weeks). So, I am currently making three types of card payments: 1) monthly payments and 2) weekly lump payments to an individual card to pay down the debt; 3) In the mean time, I have started using one of the cards to pay regular expenses like groceries, ect., to take advantage of the rewards, then paying the transactions off at the beginning of the next week.
The types of CC payments I’m making and transfers:
Monthly Credit Card (CC) Payments: I understand this fine. If you are using a CC like a debit card and pay it off every month, this makes total sense to transfer.
Weekly lump sum payments to an individual card: I don’t understand how this can be a transfer as it is such a non-regular expense. I am also budgeting in another independent spreadsheet how I am doing this, so it is in fact, budgeted, if nothing else in my mind. A transfer would hide the transaction’s worth to the budget.
My third use, buying regular stuff with the CC is much akin to Monthly CC payments and I understand that fine.
Second Transfer Type
Mortgage and vehicle loans:
- Is my mortgage and vehicle loans not an expense? My credit union has my mortgage and one of my car loans. Therefore, in my bank account, it looks just like a transfer, but as far as budgeting in Tiller, shouldn’t my mortgage and vehicle loans look like expenses? I don’t understand this.