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YNAB Tutorial - Dealing With Cash Back and Refunds

Nick True - MappedOutMoney 43 views

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Thanks Nick!
Comment from : @charlottelieuwen

I watched your video on setup in the middle of the month and this one I have a refund that came through for something I purchased with a credit card prior to setting up YNAB I've done what you showed in the video, but it is showing the refunded amount in red now What did I do wrong/how can I fix this?
Comment from : @Christina-sv4wu

Don't both of these types of transactions get imported to YNAB automatically if your banks/credit cards are linked? So you just have to categorize them as To Be Budgeted
Comment from : @EE12345

So glad this is on video - I can stop, rewind, fix, keep going…
Comment from : @lindawoodworth9346

I hope you can answer this cuz I made a boo boo We took cash money (not in the YNAB program) to pay our CC one month The Problem lies with I accidentally deposited the money into an account that NOT connected to ynab (business) and now I don't know how to record this CC payment into my YNAB Can you help me please? TIA
Comment from : @nextgenerationsteelbuildin6144

I’m not understanding I can’t withdraw my ready too budget money out back into my bank account
Comment from : @DreamWRLD22

Nick - I followed everything you said regarding refunds, but it's now showing that I have assigned more than what I have These purchases were made on a debit card, not a credit card
Comment from : @DanG15803

I returned an item I purchase Pre-YNAP I read and watched articles I'm slightly confused on what to do
Comment from : @lakeisharhyant2045

Cashback really messed my comprehensive YNAB… I would categorise the statement credit as Inflow To Be Budgeted However when you have a busy YNAB, it’s hard to remember to manually move the cashback out of the credit card budget Wish there was an easier way But thank you This video really helped
Comment from : @Hyperstimulation

It still confused me why you would leave the $100 in clothes the following monththe money was returned to a cardnot a checking account so technically can't be budgeted the same as it is a credit on a card not cash in your bank accountunless you do actually spend that $100 on clothes the next monthI think it would be harder to remember to pull the $100 from clothe category to put towards groceries you put on the card that the credit was applied towards
Comment from : @ambersawyer6305

I absolutely can’t stand how credit cards work on ynab They need to make another type of system Other than that it’s amazing
Comment from : @Botzz28

Thanks for the vid, but I could use more help Here’s my scenario: brbrI just started using YNAB in Feb I have no data for Jan budget A refund for a purchase on my CC from bk in Jan just came thru today I have no idea what to do with it/how to categorize it brbrPlease help TIA!!
Comment from : @SgtSam1

Is there a walk through how to do this on the phone app?
Comment from : @msanonymousinformer242

@Darkteckh on telegram is a real vendor I can’t believe my eyes that man too real Go on his telegram He sell credit card with high balance🏵🏵🥇
Comment from : @adamjohn6966

Excellent video, as always! And a simple fix to my question Keep it up!!! Thank you!!!
Comment from : @Jlharrell1981

This explanation was just what I needed!
Comment from : @juliorgonzalez

If i spend $30 whats 7 cash backk please help
Comment from : @lorenamimi410

Nice! You cover everything! I had put my cc rewards at ‘interest and fees’ wrong 😀 I’m going to fix it!
Comment from : @Healthhomehappy

Thank you!! I've been piddling over how to deal with this stupid 84 statement credit and this solved it for me
Comment from : @alissaraboin4956

Nick's video helped me to handle a refund on YNAB that had me totally confused Thanks so much!
Comment from : @debrarodgers1725

So, I'm new (your videos are a godsend btw) So we pay in full, but also received a refund for some airline tickets Some of that is applied to our current CC pending transactions, but the rest (the -$ on the CC website) I requested to be transferred back to my checking account (less than the actual refund) HOWEVER, the purchase isn't in ynab because it was before 4 days ago when I started What do I do? The credit/inflow shows in transactions in ynab and wants a category I'm also in between months The CC is RED for July (random amount) and 0 in August (no change in TBB) Since I don't actually have the refund (applied to outstanding balance), how do I put this in ynab? Thank you!
Comment from : @chele850

Thanks again for all these videos Nick You’re the only youtuber I don’t skip the ads on, hoping you get a little more scratch if I let them run their full length brbrQuestion on the statement credit section that confuses me Since you’re not applying the statement credit back to the category you’re spending against, doesn’t the method you describe mess up reporting? Yes you spent $500 but, net net, you “spent” $425 on groceries Won’t your reports show $500 spent on groceries?
Comment from : @chidenchi

I am so so grateful that you do this This is incredibly helpful for a new YNAB-er who wants to do this right and marie kondo my money! I have liked a lot of your videos and subscribed today :) Thank you Nick!
Comment from : @coco_on_29

Dude, your videos are great and full of great info, but you talk TOO FAST and I can't process what you're saying! I have to go back and listen over and over again to understand it And you move too fast between screens and in the budget
Comment from : @tabithadente7139

Had my first YNAB refund on my credit card today, thanks for walking me through it!
Comment from : @talentcrisis

$500 at Walmart??! Sounds like some overspending on groceries ;) jk jk love your videos btw!
Comment from : @tyu3456

Fantastic video! Thank you so much I have one question though I have just set up the budget so I am starting out with the outstanding on my credit card and not individual transactions I have a refund from Amazon on the credit card How do I enter this refund in transactions given that I don't have a specific transaction to reverse?
Comment from : @smallscreenfilms

How do you handle getting cash for a refund like Costco does
Comment from : @davemahoney6725

Soo, question New user here, and I have been refunded for a purchase made before i set up all my accountsbrNot sure what to classify the transaction I want to show the balance on the credit card to go down but i don't want to put the money back in my budget Or do I?
Comment from : @dylang7927

I really hope by the end of the YNAB series you will have budgeted enough money to buy those fictional kayaks! bfingers crossed/b
Comment from : @amandabrophy2869

Thanks Brah
Comment from : @nwalter08

Hi Nick, a unique scenario that I was looking for an answer is when I get a refund on something that I bought before starting YNAB I decided to treat it as a cashback, without assigning category since it was never bugdeted for Would that be correct course of action? thank you
Comment from : @svboyn

Hi Nick, Enjoying your videos, so helpful I have a question, want to make sure I do it right, just beginning to use the app I ordered something online and accidentally ordered three instead of one item The company has refunded two of the charges They appear as cleared on my credit card but the original charge for the three is on a statement that is due the end of the month I have already set aside money to pay in full including the two Do I only pay for the one and deduct the other two from my bill? What happens if I'm not able to do that and end up having to have the 'refunds' on my next statement Thanks for your help!
Comment from : @2susanj

Solid video I’m a bigger fan of using cash back as Savings rather than Inflow brocade it throws of my Income statement It also sets me up to not spend the cash back
Comment from : @FritzOettinger

Hey Nick, I LOVE this channel and your videos Quick question about the cashback as statement credit example: does reporting reflect this cashback as an income?
Comment from : @chrisjacobie2775

Trying again with YNAB and these videos have given me the faith that it's actually possible But i think the biggest question is, did you ever get that Kayak??
Comment from : @ethancushing7771

So helpful!
Comment from : @ANYTHINGIWANT100

Ok Question - How do I input a refund on a purchase that was done before I started YNAB I just had $200 refunded to a credit card (that is almost paid off but not entirely) for a purchase made months ago It's trying to assign it to a category or to be budgeted but it doesn't belong in any category or in the budget cuz it's just going to the balance Does that make sense?
Comment from : @yeseniarusso5190

Hey Nick perfect video for me as had a few items I have recently returned and so awaiting the ££ to be refunded to my Bank Current Account via my Debit Card So my question is I have returned this item today 28th July and as such entered it into YNAB as per your video (using same Category as original purchase and moving subsequent additional funds back to available for budgeting My question is what should I do IF these funds don't CLEAR into my Current Account untill say the 3rd August? Do I leave the transaction in July and just click cleared when it occurs? OR do I move the transaction to 3rd August (or what ever date it may be that I have clear funds back in my account)? As technically the ££ won't actually be available for me to budget/use untill such time as I have it within my Current Account? Hope this make sense Cheers 👍
Comment from : @johnfriel3776

Nick to the rescue again! Glad I'm not the only one who has had to just change the date to make it work Now I have more tools to process refunds correctly! Thank you!
Comment from : @saberei71

This helped me so muchhhhh Thank you I was putting refunds in TBB and it was throwing everything off Much appreciated!
Comment from : @courtneymiller2768

Another very helpful video I restarted again on YNAB b/c I got frustrated with various things I re-started budgeting in the middle of the month I bought something at Target with Target Credit Card in the beginning of the month, but I returned it in the middle of the month In this case, do I just enter an inflow transaction under Target Credit Card Account? Is that all I need to do?
Comment from : @2BOS2

I'm a little worried at how much sense this makes to me! :) YNAB is certainly a helpful tool when you take the time to ensure you're learning each piece as the foundation details have really sunk in Thanks for continuing to explain the extra points that keep coming up We appreciate it! Carolyn & Don
Comment from : @carolynmadvig4705

How would u handle a refund for an item that wasn't previously budgeted for? I got a credit on my credit card for a refund from Geico I need to reduce my total on my credit card but the money doesn't really go back to any account
Comment from : @stevepekar6120

Would love to understand the benefits and differences of either linking your accounts or entering everything manually Is one strategy better than the other? What is the workflow like if you use both? Not sure if you cover this in detail in one of your videos thank you
Comment from : @commanderjoy4927

Hey Nick, brbrYou helped answer my questions in other videos You're quickly becoming one of my favorite YouTubers! I have a question about bank interest brbrWhat I've been doing is when my bank interest comes in, I just manually input the transaction under the specific account and put the money in the TBB category brbrHowever, when I get bank interest in my Emergency Fund account (all the money in this account I just store in my Emergency Fund category in ynab) should I also put this money in TBB? Or can I just put the money straight into the Emergency Fund category to match the balance of that account? I've been doing the latter brbrAlso, the interest comes in on the last day of the month Should I be backtracking the transaction to accurately reflect the day the interest posts in the account? Or can I do it when I see it in April? Does it even make a difference?
Comment from : @user-nr2ku9dk9b

Very helpful! You're so great!
Comment from : @jmercede

I will need to watch this video every time I get a refund or cash back I already messed up a few transactions, which is why I prefer to use unlinked accounts so I can manage my transactions better Great video
Comment from : @natalee6654

So glad to have found this video! I find this to be the most confusing part of ynab and find myself coming back to this video again and again Thank you!!
Comment from : @mldforce6113

Hey Nick Thanks for this video! I've been using YNAB for years (Classic Version) and never realized I could use 'inflow' in my catagories to reflect a refund Duhhhhh Silly Grandma Used that feature right away today after seeing your video to reflect a refund on some boots I returned to wait until they went on sale Game changer!!
Comment from : @MRemes

Thank you for your clear explanation on the cash back rewards I just had one from my credit card and was reading on the YNAB forums how to handle it and I was just getting confused since no one talked about moving the money out of the payment category to be budgeted I was trying to figure out why my payment listed was way more than I owed I have it all sorted out nowTHANK YOU!!!
Comment from : @cobysmith3179

Give LIKE without even watch the video lolbrI always had this doubt! But in the case you pay something to someone using one form of payment and receive the payback in another payment form
Comment from : @marcalnardelli5828

I truly appreciate you taking the time to do the videos I’m learning so much You are a terrific teacher I’m feeling more confident that I can budget properly with all of this great info!
Comment from : @orchidgarden3124

I have thought of getting one of the credit cards that pays cash back but I have a huge fear of running up credit and not being able to pay it back It took me several years just to get a credit card after having paid off all my credit
Comment from : @PidasianHippie

For reference, you can download my YNAB beginner's checklist here: mappedoutmoneycom/ynab-checklist/brI cover both cashback and refunds in YNAB, so if you want to skip around to the sections you need most, here are the timestamps :) br0:33 Cashback direct deposit to your bankbr1:22 Cashback as a statement creditbr3:45 Cashback if you don't pay your card in fullbr4:32 Refunds during the same month of purchasebr7:25 Refunds across multiple monthsbr9:23 The most common refund mistake people makebr11:13 How reports work with your refunds
Comment from : @mappedoutmoney