Interest Charges showing as spent money in budget

When I reconcile my credit card account, I add the monthly 
interest as Interest charge: (Category) Bank Charges, 
which was the default category when I started.  Anyway, 
the credit card interest shows up in my budget as if I 
actually spent the money to pay the interest.  I have a 
running balance on my credit card and would just like to 
have the interest recorded on my credit card activity and 
not as if I paid money.   

Note:  My credit card is listed in Scheduled Bills and 
also the Debt Reduction Planner.

Any help is appreciated.  
0
anonymous (74723)
7/25/2004 5:30:45 PM
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In microsoft.public.money, Violet wrote:

>When I reconcile my credit card account, I add the monthly 
>interest as Interest charge: (Category) Bank Charges, 
>which was the default category when I started.  Anyway, 
>the credit card interest shows up in my budget as if I 
>actually spent the money to pay the interest.

Wouldn't this be analogous to having bought a meal with a credit
card? The question would be, did you spend the money at the
restaurant, or did you spend the money when you paid the credit card
bill?

>  I have a 
>running balance on my credit card and would just like to 
>have the interest recorded on my credit card activity and 
>not as if I paid money.   

0
via_newsgroup (13114)
7/25/2004 5:46:52 PM
Wow, thank you for your quick response!  I understand your 
point and do like that any purchases I may make show up in 
my spending categories but I would like interest to show 
up as activity only.  Is there a way to do that?


>-----Original Message-----
>In microsoft.public.money, Violet wrote:
>
>>When I reconcile my credit card account, I add the 
monthly 
>>interest as Interest charge: (Category) Bank Charges, 
>>which was the default category when I started.  Anyway, 
>>the credit card interest shows up in my budget as if I 
>>actually spent the money to pay the interest.
>
>Wouldn't this be analogous to having bought a meal with a 
credit
>card? The question would be, did you spend the money at 
the
>restaurant, or did you spend the money when you paid the 
credit card
>bill?
>
>>  I have a 
>>running balance on my credit card and would just like to 
>>have the interest recorded on my credit card activity 
and 
>>not as if I paid money.   
>
>.
>
0
anonymous (74723)
7/25/2004 5:59:31 PM
I'm not sure I understand what you want to do, but I do know this:
recognizing that the interest expense is an expense and is money you had but
no longer have is Step #1 to recognizing that you Do Not Need to carry that
balance and pay that money. It's an utterly avoidable expense.

You could just put the interest expense transactions in with no category
assigned. Or you could remove that category from your budget. Don't do it,
unless you like giving that money away.

"Violet" <anonymous@discussions.microsoft.com> wrote in message
news:3a2901c47271$22a8df60$a601280a@phx.gbl...
> Wow, thank you for your quick response!  I understand your
> point and do like that any purchases I may make show up in
> my spending categories but I would like interest to show
> up as activity only.  Is there a way to do that?


0
7/25/2004 7:08:12 PM
Reply:

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