Student Loans

Pay Student Loans With Credit Card – YNAB Loan Guide (Cars, LOC, Student, CC's + more)

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Pay Student Loans With Credit Card – 9 Tips

Here’s my step-by-step guide for setting up your loan accounts in YNAB. There’s multiple ways to track your loans in YNAB, but how do you know which one is right? I’m going to walk you through two different methods and show you some advanced YNAB moves to make changes to your debt setup.

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Quick Jump Sections
0:00 – Two Types Of Debt
1:40 – Method #1 Setup
4:43 – Debt Snowball Setup
5:45 – Method #1 Payments
6:50 – Method #2 Setup
8:32 – Method #2 Payments
11:31 – Changing Account Types

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32 Comments

  1. Nick True - MappedOutMoney
    July 26, 2021 at 8:58 pm

    Download MY YNAB Checklists: https://mappedoutmoney.com/ynab-checklist
    Quick Jump Sections
    0:00 – Two Types Of Debt
    1:40 – Method #1 Setup
    4:43 – Debt Snowball Setup
    5:45 – Method #1 Payments
    6:50 – Method #2 Setup
    8:32 – Method #2 Payments
    11:31 – Changing Account Types

  2. C Hodge
    July 26, 2021 at 8:58 pm

    First of all, I have been so frustrated not finding a simple, clean, fresh app that allows me to track Dave Ramsey or Crown Financial Baby Steps like Debt Snowball. I was certain one did not exist. Now I see I can do this in YNAB and in a way I love (your 2nd option). TY Second, how do you get "GOAL" column to show on the Budget screen? It is not showing on mine.

  3. Karen Goelz
    July 26, 2021 at 8:58 pm

    Thank you!!! You are so helpful!!!

  4. Melody Champion
    July 26, 2021 at 8:58 pm

    Wow! I had entered my debts incorrectly but I followed these steps to switch them to tracking and it worked perfectly ~ thank you so much!!

  5. GearHeads
    July 26, 2021 at 8:58 pm

    Hey man, great videos. If I could make one suggestion to you it is something I do on my youtube channel, but at the end of your video where you have your end screen setup it pulls all the video suggestions and covers the screen showing what you are doing the last few seconds. Make an exit trailer or the like for your vids that you can put the overlay on that is 15-20 seconds long that way you aren't covering up any actual content of the video itself! Its really easy to do and gives the viewer a bit better experience I think! In any case, thank you for your help on YNAB you have been doing a great job with these videos and are a natural teacher!

  6. Izzy D.
    July 26, 2021 at 8:58 pm

    Hey Nick, I just started with YNAB and it is amazing and your videos give me really nice pointers and things to work on.
    I have a scenario I was wondering how to handle in YNAB. Let's assume I have a tracking account for dept repayment and one month I pay off the remaining amount off my dept and this account has a zero balance. Maybe that month I don't want to delete the account since I want to see the money that was allocated towards my last transaction towards this dept. But in the next month I would like to delete this account, would this be possible without disrupting any of my numbers?
    Thank you in advance!

  7. David Chadwick
    July 26, 2021 at 8:58 pm

    I asked this question just now on the all things credit card video. "In this video you talked about setting up those
    'tracking accounts'. Here, you dealt with interest during the
    reconciling process. You showed the example of an RV payment of $400 and
    the principle went down by that much. But then, there was interest, so
    during the reconciling process you said "no" to the balance YNAB asked
    if correct, and then you added the interest and then finished the
    reconciliation included the interest. ***So, can one do THAT process
    for their everyday CC stuff IF one is NOT paying off their CC every
    single month? Hope this makes sense!?!

  8. Alexander Lamothe
    July 26, 2021 at 8:58 pm

    Hi,
    Do you use the import transaction feature for spending? If so, do you wait for the transactions to appear 2 days later, or put them in manually and reconcile the duplicates? I ask this because I am having trouble waiting for the payments on my credit card to show up in the credit card category, after they show up in my checking.
    Thanks!

  9. Yael Jacobs
    July 26, 2021 at 8:58 pm

    When I tried to moving my student loan to a tracking account and changed the category it made my to be budgeted negative 2000+ and put my student loan category positive 2000+. Needless to say, I undid everything….😬

  10. Alison Scheid
    July 26, 2021 at 8:58 pm

    I have been manually splitting transactions every month to allocate interest. This method via reconciliation is so much easier!

  11. Christine Mitchell
    July 26, 2021 at 8:58 pm

    I know I’m late to the game but I can’t help noticing the age of your money. I have aged my money before signing up for YNAB 4 days ago. Will my age start from four days ago or will the software take into account my linked accounts and my past before YNAB??? Thanks!

  12. Carmelina Ayuyang
    July 26, 2021 at 8:58 pm

    How did you entered numbers under goal column and make it appear on the screen? I set up my toolkit but it only showed under my goal column the letters like D, M, U , and S, no numbers. Help!

  13. Kimberley Parish
    July 26, 2021 at 8:58 pm

    exactly what i was looking for. thank you.

  14. Explore with Svetlin
    July 26, 2021 at 8:58 pm

    Hey, Nick! Your guides are hands down the best! I don’t understand only one thing still. Looking at the mobile app of Ynab-sometimes I will have “0 to budget”. I get a, let’s say, small paycheck of 40 and I post those unto “To Budget.” = and what happens is, I gave, for example 28 in green “to budget”. Not the whole amount. But before getting the money I had no negative balance in “To budget”. I feel it has to do with credit cards, but don’t get it. Can you advice?

  15. J Bell
    July 26, 2021 at 8:58 pm

    Nick the videos are great and help tremendously. Quick question tho. Every time I open my budget it opens to June and I do not know why. I just started YNAB in May. I watched your video on how to close out the end of the month and I believe i did that but it still opens up in June and we are almost at the end of July. Thoughts?

  16. Simple Life Money Matters
    July 26, 2021 at 8:58 pm

    Full disclosure and I guess a True confession (pun intended). This channel got me on to YNAB. Been using Everydollar for a year and a half with great results but needed more. Not willing to pay the $80 for Everydollar plus (no real extras you get with it other than account linking) I learned of YNAB from a True user and love it. However I paid the subscription without using your link. Not cool. YNAB has all the features the other one didn't offer but I knew I was ready for.

  17. Shawna Wirl
    July 26, 2021 at 8:58 pm

    Not sure if you will read this comment but I just wanted to thank you so much. I commented on an older video last night (lol) so ignore me if you saw that one. I hope you have another class soon. You are so smart, explain things so well, and you’re the only reason I am sticking with YNAB. I didn’t understand it at all but I am learning quickly thanks to you. I have a mortgage, car loan, and student loans that my partner and I want to pay off in 8 years, and up until this point, I didn’t really have a plan. I “budgeted” and made sure bills were paid and items were bought, and if I had $300, $400, $500 at the end of the month, I’d put a bit in savings and then test toward the car loan. So I would have budget but not really. Now I see that making a plan first works better and I am less likely to spend extra on things i don’t need and end up feeling guilty.

    I was just telling my partner you deserve to be paid well for these videos, so I will 100% sign up for a class. I added myself to the mailing list so I can sign up for the next one. Thanks again! So glad I found you.

  18. Tom King
    July 26, 2021 at 8:58 pm

    Hey nick. I was just wondering what your thoughts are on going to an online checking account? I have been looking at a few and just wondering what your opinions are on them as well if you did have one what one you use? Any advice would be greatly appreciated

  19. AZ0960440
    July 26, 2021 at 8:58 pm

    I subbed to you a couple weeks back and have been trying to catch up on your videos. I just want to say that you should grow your beard longer and dye it grey because you're a MF'N WIZARD.

  20. Dylan G
    July 26, 2021 at 8:58 pm

    Hey Nick,
    Firstly thanks for your videos they helped with the learning curve switching from Mint.
    Last month i paid off a vehicle which i had a budget category set up for specifically for that vehicle.
    Well now that the vehicle is no longer needing to be budgeted for, when i go to delete the category YNAB want's me to allocate the past transactions somewhere.
    Any suggestions what to do here?

  21. Frugal Rules with John and Nicole Schmoll
    July 26, 2021 at 8:58 pm

    Budgeting is hard for some. Thanks for sharing how to track your loans in YNAB.

  22. Dima Clarke
    July 26, 2021 at 8:58 pm

    Sorry Nick i wont be watching this video because I have like 5 more hours of your other videos I need to watch first but I wanted to ask a question because this is your most recent video.

    I was taught/believe that you should drain your checking account every 2 weeks or whenever you get paid (it's an economics theory) and i am finding it hard to implement that strategy into my budget. I hope i am making sense.
    The money in my checking accounts is money I SPEND. I don't save a dime in my checking. Everything goes to my personal savings or to my business. I will be redoing my YNAB and trying the trick you recommended about putting the savings as an Asset but other than that any other tips? I think this would be a great video if you haven't made one already! Thank you!

  23. Laura Führer
    July 26, 2021 at 8:58 pm

    Hey Nick, thanks for all the great videos you make. I've learned a lot from you. I was just wondering if you still have the deal where new users of YNAB can get two free trial months via your affiliate link? Thanks in advance!

  24. Mark Bacas
    July 26, 2021 at 8:58 pm

    Hi Nick, at around 10:30 in your video, is there some reason you wouldn't create a transaction to that CC Interest budget category you have setup? When I saw that category I figured you'd be using it to keep track of interest paid?

  25. Cj Miller
    July 26, 2021 at 8:58 pm

    Wow! This answered so many questions that I have had recently! Very clear and easy to follow. Thank you!

  26. Jakob Freele
    July 26, 2021 at 8:58 pm

    Thank you for the video man! Been using YNAB every day and I absolutely love it. I have used your videos to learn the software and you have been 100% the expert I go to for YNAB. Thanks again and cheers! 🍻

  27. capnkoons
    July 26, 2021 at 8:58 pm

    Hi Nick – for the scenario where you’re changing the account type, what do you think about this approach in order to avoid all the recategorizing & cleanup?

    1. Unlink the account
    2. Create new tracking account with starting balance of zero
    3. Create a transaction in the old account:
 Payee = Transfer: [new account]
 Category = Inflow: To Be Budgeted
 Inflow = the full balance of the old account
    4. Close the old account
    5. In the budget, hide the old account in the Credit Card Payments section

  28. Martin Farrow
    July 26, 2021 at 8:58 pm

    Need the intro video back nick

  29. Jason Guge
    July 26, 2021 at 8:58 pm

    I used tracking accounts before, but didn’t know you could use normal transactions with them. Thanks for the tips! So much easier now. Kudos to you sir, great video.

  30. Explore Some More
    July 26, 2021 at 8:58 pm

    We started using YNAB last month (thanks to your channel!) and are loving it so far. We don't have debt and aren't living paycheck-to-paycheck, but after analyzing a full year of expenses through Mint we found that we spend waaaaaay more than we would like to on things that aren't really important to us. YNAB is helping us make informed decisions about our money and gives us feedback in real time. Thanks so much for your channel!!!

  31. Dr. BoJangles
    July 26, 2021 at 8:58 pm

    This is great, Nick! I've been thinking about starting to track my few Sallie Mae student loans just so I can see those awful balances decrease!
    Quick question though: I'm planning on refinancing my Sallie Mae loans into one loan with a lower rate; how would you recommend going about that in YNAB? Ideally I'd like to keep all my past transactions in there, but should I just treat the new consolidated/refinanced loan as totally new loan separate from the Sallie Mae loans that it originally was?
    Cheers!

  32. Bolty81
    July 26, 2021 at 8:58 pm

    Great video! I know it's cheating, or against how YNAB works, but I like to treat my student loan and car loan and set them up as "credit cards". Then I can take full advantage of the interest category for credit cards to track how much money I'm throwing away. It's how it motivates me to pay them off faster rather than reconciling 🙂