So you’ve discovered that you’re riding a credit card float. Sure, it’s a bummer but it’s not all bad news. In fact, to point out the obvious: the only thing that has changed is your level of awareness of the situation, not the situation itself. Before: I pay my credit card(s) in full every month and never incur interest charges or fees. What could possibly go wrong? After: Ack! I’m borrowing against my next paycheck to pay for current expenses. Awareness, my friends, is … [Read more...] about Getting Off the Float – YNAB Tutorial
The term Credit Card Float has two general meanings: First, the most widely used, generic definition of a credit card float refers to the cushion or “float” of time between when you make a charge to your credit card and when the money is actually due (when you have to pay the credit card bill). This float period can be anywhere from 21 to 52+ days. This variance in time has to do with where the purchase date falls in relation to your card’s billing cycle and statement due date. The second … [Read more...] about What is a Credit Card Float?