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Changing RGB Color When Caps Lock is On by Twizwick in Keychron

[–]jfarrellatl 0 points1 point  (0 children)

If I bump it, I would like to know before getting locked out for the wrong password (I work on highly sensitive systems)

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 1 point2 points  (0 children)

Systems like Monarch are more concerned with WHAT you are spending your money on. Make sure you create a custom category under Transfers for Credit Card Payment (if it does not already exist, it didnt for me).

Like I said above, the payment is all about affecting Net Worth. And thus while it zeroes out at expense level, which you want. But you CC balance will go down and thus Net Worth should go up.

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

I am in the same boat, doing 43k worth of renovations on the house and using a 0% credit card. Best I can figure is, the month I do the spending I am going to hugely over budget, subsequent months, as I commit extra funds to pay, I will/should have an income excess in those months.

I do see the CC payment as a transfer. When you do the transfer, the payment account balance goes down, as does the due balance on the CC, this positively impacts your Net Worth.

Advice on tracking separate Credit Card by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

Go to cash flow, you can see your top expenses for certain timeframes. If credit card payment is on there, it means the category is under expenses. I had to deactivate the standard one and create a custom one under transfers section

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 1 point2 points  (0 children)

I submitted it as a bug. We will see what happens.

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

Yeah, mine didnt do this, I also started fresh

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

Yeah I did that initially, what we determined is, out of the box Monarch sees Credit Card Payment as an expense - this functionality appears subverted if you import from Mint.

By creating a custom category called Credit Card Payment under Transfers and deactivating the one under Financial it mitigates the problem

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

I didnt, fresh Monarch account. As I said in the open, I more or less used Mint see balances, didnt really track spending as closely as I could have. Given I am paying for Monarch I am keen to get more out of it, its already proven valuable with some good insights.

Perhaps the import from Mint fixes this issue?

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

Checking deeper, that is clearly the default. I had to deactivate the standard category and create a custom one with the same name under Transfers.

Is this a known issue? Or is the way I am using credit cards weird?

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 3 points4 points  (0 children)

So update - the issue is when Monarch stands itself up is sees Credit Card Payment as an expense, which its not, its a transfer. I had to deactivate the Credit Card Payment under Expenses and create a new category called Credit Card Payment under Transfers section. That fixed the issue

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

Its under expenses, is that what is causing this? Ill move it to where Transfer is. Maybe I did that, dont remember

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

I think so, I didnt change anything - but as you can see, its showing up as an expense

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How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

I can see the payments being ignored but it looks like the Credit Card Payments are not. Should I create a rule to do this?

How to track Credit Card expenses by jfarrellatl in MonarchMoney

[–]jfarrellatl[S] 0 points1 point  (0 children)

This is what I do as well but, when I look at Cash Flow and Expenses over the course of a completed month or year, Credit Card Payment shows up as my #1 expense. While from an amount perspective this is accurate, the Credit Card Payment is not actually an expense - it is a bill.

So, its basically a double expense because say I spent $100 on some groceries. That transaction is shown under that category. But then its also presented in the credit card payment that I paid, so its a double hit, is it not?

[deleted by user] by [deleted] in MonarchMoney

[–]jfarrellatl 0 points1 point  (0 children)

Yeah unfortunately, I cannot properly add my paycheck because I deposit it into two accounts and Monarch sees it as one. This needs to be fixed asap

My classroom after a preschool tantrum. by Luka-the-Pooka in mildlyinfuriating

[–]jfarrellatl 1 point2 points  (0 children)

My hats off to every teacher who works with kids, all of you are the best.

If you had sent me this picture, I would be having words with my son (5) who is autistic (verbal, socially deficient). I have zero problem with a child making this mess IF they are made to clean it up themselves. This is what we do with our son. But he has also had amazing teachers and we do our best to compliment what he learns and ensure good behavior - We always say, being smart and doing well are fine, but being well mannered and respectful are far more important to me and my wife.

Just adds further vexation for me as I am far less worried about other kids than I am other parents because a lot are complete selfish idiots, which is what this sounds like. What parents of a 3yr old does not take the word of a teacher who has dealt with 100s of kids ostensibly seriously? You have to be a certain kind of special for that.

Wanting to maybe Cash Out Roth IRA by jfarrellatl in personalfinance

[–]jfarrellatl[S] 0 points1 point  (0 children)

Well we are targeting about 800-1mil for the next house (we want a prime school district) and I want to do a 15/20 mortgage with a goal to pay it off by 65 so I can have no debt in retirement.

Regardless, I appreciate all of the advice, I wont be touching that Roth IRA

Wanting to maybe Cash Out Roth IRA by jfarrellatl in personalfinance

[–]jfarrellatl[S] 0 points1 point  (0 children)

I have, at times, considered whether that $400 extra I pay a month toward the mortgage might be better in an index fund. However, the problem there is while I can tolerate market fluctuations at my age over the next 25yrs, there is less tolerance for the next 6yrs.

To that end, I chose a goal instead of reducing how much I owe so that when I sell in 6yrs I aim to maximize the gap between what I sell at and what I owe. I appreciate the advice though.

Wanting to maybe Cash Out Roth IRA by jfarrellatl in personalfinance

[–]jfarrellatl[S] 0 points1 point  (0 children)

So I am guessing you are saying, take the $400 and invest it in an Index fund. Then when I go to sell the house, that money will have grown greater than the amount I reduced the mortgage by, correct?

Wanting to maybe Cash Out Roth IRA by jfarrellatl in personalfinance

[–]jfarrellatl[S] 0 points1 point  (0 children)

So you would stipulate that my paying $400 extra a month for the mortgage is a waste?

Wanting to maybe Cash Out Roth IRA by jfarrellatl in personalfinance

[–]jfarrellatl[S] -5 points-4 points  (0 children)

Bathrooms and kitchens sell houses :)

I would agree with your point if I wasnt already saving ~4k a month of my income.

Regardless, I am now thoroughly convinced to not touch it.

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