Credit Cards

When you charge something to a credit card, Budgetwise commits that money from your budget immediately, not when the bill comes.

How it works

When you record a credit card transaction:

1. The money is deducted from the budget category immediately. Charge $50 to Groceries and your Groceries category drops by $50.
2. The credit card account balance increases by $50.

Your budget reflects reality the moment you spend.

Set up a credit card

1. Go to Accounts
2. Click Add Account
3. Choose Credit Card
4. Enter the current balance (as a negative number if you owe money)

Pay your credit card

A credit card payment is a transfer. Money moves from your checking account to your credit card. Your budget categories don’t change because the money was already accounted for when you spent it.

Tips

• Record transactions as they happen. Don’t wait for the statement.
• Pay your balance in full when possible. Budgetwise makes this easier because you always know what you owe.
• Check your credit card balance in Budgetwise against your actual statement regularly.