How to track credit card debt and instalments
In short: To keep track of a credit card you need three things: the statement day, the current debt and the instalments spread over coming months. If you enter instalments against the months they fall in, you see in advance what each month will cost.
Why card debt slips out of sight
Card spending does not take cash out of your pocket at the time, so the total is hard to feel. Instalments spread over months make it worse: after a while it is unclear what you already owe.
The fix is to record card spending and instalments like an account, and to see the coming months too.
Card and instalment tracking, step by step
- Add the card as an account. Enter the current debt and the statement day.
- Record every card spend against the card, so the card's debt grows, not your cash.
- Split instalment purchases. Enter the total and the number of instalments, so each month's share lands in its own month.
- Check the coming months. See how much you will pay in instalments over the next periods and build your budget around it.
- Before the statement and due dates, set aside what covers the debt.
- When you pay, take the amount off the card and out of your bank account so both sides agree.
How Yetir makes it easier
In Yetir a credit card is a type of account; you can enter the balance and the statement day later too. You can split a spend into instalments and see each month's share in its own month.
In the debts section you can also note who owes whom, with instalments and due dates. Monthly, quarterly and yearly reports export as CSV or PDF.
Frequently asked questions
How do I enter instalments against the coming months?
When you add the spend, choose to split it into instalments: enter the total and the number of instalments and each month's share appears in that month's records.
Can I track more than one card?
Yes. Add each card as its own account and follow their debts and statement days separately.
Does Yetir connect to my bank?
No. Yetir does not connect to your bank; you add the records. You never have to give it access to your bank.
Try it with Yetir
On your phone, your Mac or in the browser: follow your spending, accounts and savings in one place.
The web version needs a free account (e-mail, Google or Apple); your data stays in step with your phone.