Part 8. Tracking Credit Card Debt

Whether you use one credit card or a dozen , Quicken can help you manage your credit card debt. Credit card debt is a serious problem these days, so keeping tabs on your credit card spending is increasingly important to good financial health. You can use credit card accounts in Quicken to track purchases and payments on all your major credit cards. This enables you to see immediately where you are accumulating debt and take steps to keep it in check. Tracking your credit card spending in separate accounts takes a bit of discipline, especially if you use multiple cards. However, a little bit of monthly effort pays off in the long run if it helps you to manage and pay off your credit card debt.

A credit card account works similarly to your other cash flow accounts, such as your checking and savings accounts. Like checking account transactions, you can assign categories to your credit card transactions so that you can clearly see where your money is going. This chapter shows you how to set up a credit card account and record various card- related transactions. You also learn how to view a spending report and graph to see where and how much you are charging to your credit card.