Is there a good way to categorize when funds are swept from your primary checking account into a savings account? Same question for when credit card bills are paid. We’ve already itemized the individual charges but aren’t sure what to do when the funds are swept from our checking account and paid …

The way I handle both of these things are like transfers. For a move from checking to savings, this is just an account transfer ( I have a category called account transfer with the Type set to Transfer). This way it wont coutn any budget or anything, its just money going from one to pocket to ano…

Just to add to what richl said, there is a difference in what type of CC payment it is. If it’s a card that is paid up in full every month, then I use “transfer” as my category for money going in and out. If it’s a debt, that I need to pay down, then I have two items in my categories sheet. One it…

Richl - quick question. I’ve been using Tiller Foundation and many of the varied workflows. But, I’ve just added a credit card to my account list. So in my Transactions, the expense for my CC is showing up. I’m curious how you label the expense in the transaction sheet. For instance, I had some car…

So I categorize the auto repair expense when it hits my transactions sheet. That is when it is spent. I do this for all credit card purchases. Then when I pay the credit card I mark both sides of the payment ( amount taken out of checking and amount paid to credit card) with the category of credit …

Thank you. It’s making me think a bit more. Do you use either the Debt Progress or Debt Planner worksheet workflows? I’m just wondering how this would affect my current workflow of using Debt Payoff (expense from checking) and Debt Payoff Received (income to loan/debt) since I’m using the Debt Prog…

No I dont. Sorry, maybe someone else has insight here.

I use similar system, but instead of Debt Payoff, I have a budget item for every debt. It works flawlessly with Debt Planner since the budget and actuals are pulled in by matching names.

Hi @jfhitchcock07 , If you’re working to pay down a high balance card vs paying the card in full each month the best recommendation really is to stop using that card for every day purchases. If you don’t then you should consider a workflow where you make two payments each month, one for the stateme…

@richl For Credit cards i have a category called Credit Card Payment. this is also set to Transfer. I then mark both sides of the payment as credit card payment. Once again it is just like a transfer. The actual tracking of expenses is done with the individual purchases ( Groceries, Clothing, Gas) …

How should I categorize money moving to savings or credit card payments

Spreadsheets Google Sheets

randy January 30, 2023, 5:25pm 11

Yes. Most people hide Transfer types in the Categories sheet because they are net neutral transactions.

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How should I categorize money moving to savings or credit card payments

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