Envelope budgeting with credit cards
Mister Ribble
ender27182818 at gmail.com
Thu Feb 4 21:11:58 EST 2010
I'm considering using gnucash for my budgeting. My budgeting is a little
unique, but I imagine others have found a satisfactory solution -
hopefully they'll chime in.
My finances revolve around a single checking account and a single credit
card. Each month I allocate a number of income dollars to various
budgets, say 100$ for groceries, 200$ for gas, etc. These allocations
roll over each month, so if I spend less than the allocated amount, the
next month I'll have 200$ in gas + whatever was left from last month.
This way I can build up funds for things like car repairs that happen
randomly.
All of my transactions go through my credit card, which I pay off at the
end of the month.
I haven't been able to figure out how to move my money around in
gnucash. If I move money out of my checking account and in to a 'cash'
account for groceries or gas, then whenever I charge something to my
credit card that should be groceries or gas, I end up with the allocated
amount plus the spent amount, rather than allocated - spent. I've tried
fiddling with different account types, but can't figure out how to get
the accounts to add up. Any suggestions?
-Eli Ribble
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