All you need to do is set up a debt reduction plan for the credit card.
Money will automatically include this in your budget as a line item called
"debt"


"wdy" <wdy[at]discussions.microsoft.com> wrote in message
news:7487CB83-2961-4B94-8F1F-8B60948D0D67[at]microsoft.com...
- quote -

I think I know what you are trying to do. It will require some juggling, but
that seems to be what Money is all about.
Create a category for cc reduction. This will allow you to budget the
payment but it does not transfer the funds. Create an account, I call mine
slush. When you make the payment, create a split, enter the total amount
before the split for $100. In the split allocate this to the cc reduction
category. Then make offsetting entries from checking to slush. Ignore the
slush account ntries until you want to reconcile them and archive them. I
have the opposite problem. I can 't keep Money from shoving transferrs into
my budget.
--
wdy


"William R Wood" wrote:

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You don't. Paying off an old credit card balance is not a budget item. You
should have already budgeted the expenses that you charged on the card that
you are now paying the balance on. The current payments represent cash
flow (debt reduction).

Schedule the monthly transfer from checking to credit card in Bills and
Deposits and then you can track the cash flow using the cash flow tool.

You can probably also set up a debt reduction plan but I don't know how to
do that. I refuse to run up debts. I probably don't need to add that you
should never, ever under any circumstances carry a balance on a credit card
unless you have a zero interest card. Best to pay the card in full
every month and use a cash back card that pays you money.

Use the budget to make sure that there is the $100 left over every month.
The $100 is a cash flow problem, really, not a budget problem. Forecast Cash
Flow answers what balances will be given a proposed cash flow. Budget
answers whether a given income and expense plan will lead to savings or make
you go broke. If you don't use DRP and are paying significant amounts of
interest, be sure and schedule some amount for the interest expense, in
addition to the $100 a month transfer, so that FCF will properly reflect the
slower decline in the balance this will cause. Scheduling the interest will
also make sure that BP reflect that you are spending THAT each month.

<bsmith4[at]hotmail.com> wrote in message
news:1153072093.699011.45750[at]75g2000cwc.googlegroups.com...
- quote -

I am not certain how it is done. I must admit that I have not tried the
following but I do know that Money has a Debt reduction planner. I
budget under bills the planned payments where I estimate the amount that
will be transferring monthly to credit card. Thus the cash flow picks
it up under the cash flow analysis. Hopefully someone that has used
this feature will answer.

bsmith4[at]hotmail.com wrote:
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Art McClinton wrote:
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I understand what you are saying, but that is not the situation.

I guess I wasn't clear. Here is the deal: I have a credit card that I
have a large balance on. I do not use that credit card anymore to make
charges. However, I don't have enough right now to pay it off. So I
want to budget paying $100 a month until it is paid off. Well, that
credit card account and my checking account is in MS Money. So when I
write a check, I am actually transfering the payment to the credit
card. How do I get that transfer into the budget?

I agree with Bob, you budget that you are going to buy groceries, home
improvements, auto repair, gasoline or some other category. You do not
budget whether that payment is made in cash, check or plastic. credit
cards are a way of payment. Transfer to pay them off is not budgeted.
You might however include the credit card interest as a budget item.

You appear to be confusing budgeting with cash flow.

bsmith4[at]hotmail.com wrote:
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Bob Peel, MVP wrote:
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How do I budget the credit card expenditure? Are you saying create a
category called "Credit card expediture" and use that? I tried that
already and it works for the budget, but then the credit card account
doesn't reflect the payment, because it is actually a transfer of
money.

I think there is a way to add a transfer to the budget because when I
edit it and look at expenses, the last budget group in the list is
"Transfers out of budget accounts". But I see no option to add
anything to this group.

You don't budget the transfer, you budget the credit card expenditure.
Regards
Bob Peel,
Microsoft MVP - Money

For UK tips & fixes see
http://support.microsoft.com/default...d=fh;EN-GB;mny.


I do not respond to any emails that I have not specifically asked for.


<bsmith4[at]hotmail.com> wrote in message
news:1153056303.125598.267820[at]b28g2000cwb.googlegroups.com...
- quote -

I track a credit card in Money that I pay on each month. I can't
figure out how to add this transfer to the budget. It will only let
me add categories. I'm using money 2006 and using the advanced budget,
not the essential.

Anyone know how this is done?