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Dwight Eisenhower posted:I am trying to do this but I include my outstanding mortgage balance in YNAB. :hardmode: No doubt. I am a renter, so that's important to keep in mind! You got this!
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Dec 19, 2016 17:22
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Dwight Eisenhower posted:I am trying to do this but I include my outstanding mortgage balance in YNAB. :hardmode: Same. And estimated value of house is NOT included. I should be less than 6 months from being completely worthless!
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Dec 21, 2016 03:31
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anitsirK posted:Same. And estimated value of house is NOT included. I should be less than 6 months from being completely worthless! Why account for a liability, but not the asset that liability is secured by?
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Dec 21, 2016 16:35
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Dwight Eisenhower posted:Why account for a liability, but not the asset that liability is secured by? Mostly because unless the house actually sells, I have only the vaguest idea what it's worth. And I don't really consider myself debt-free until I have more cash (or savings) than I owe.
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Dec 22, 2016 04:06
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anitsirK posted:Mostly because unless the house actually sells, I have only the vaguest idea what it's worth. And I don't really consider myself debt-free until I have more cash (or savings) than I owe. Maybe an account where you track your equity in the mortgage?
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Dec 22, 2016 13:21
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I'm the same way anitsirK, I don't really care about my net worth in YNAB, I just use it as a tool for managing my liquid assets. Personally, the value of my house is almost irrelevant, I don't plan on selling it ever/anytime soon. I have a personalcapital account just for quick-glance type stuff and it's annoying how my net worth fluctuates with zillow's dumb zestimate. I use it mostly to see how my retirement stuff is going.
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Dec 22, 2016 14:58
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TheCenturion posted:Maybe an account where you track your equity in the mortgage? This is sort of what I do, though I track it as two separate accounts for the mortgage and the house value instead of just one for the equity. House mortgage as one off budget, negative balance account. Estimated value of house as a second off budget, positive balance account. When I make mortgage payments I split the outflow between ITI (budgeted as a monthly expense) and principal (budgeted as retirement spending). Principal goes as a transfer to the negative balance mortgage account. Once a month or so, I'll toss a Zillow estimate on my house as the updated balance of the home value, both up and down swings. It's almost certainly wildly inaccurate, but I think in this case poor quality data beats no data. Doing all of this has made adding extra principal to payments very easy for me mentally. It both knocks big chunks out of the remaining mortgage balance, and reduces the ITI portion of payment in a way that shows progress.
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Dec 22, 2016 15:39
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anitsirK posted:Mostly because unless the house actually sells, I have only the vaguest idea what it's worth. And I don't really consider myself debt-free until I have more cash (or savings) than I owe. Take your acquisition costs for your house and the ground it is on and put those in as assets. Reduce the house asset by 1/15 (or 1/however-many-years-you-think-it-will-hold) per year and you have a somewhat accurate picture of what it's probably worth at least.
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Dec 22, 2016 15:43
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That all said, YNAB is pretty explicitly designed and intended for use as a cash flow manager and budget manager, not an asset tracker or Personal Finance manager. It ain't Quickbooks, Microsoft Money, Moneydance, or anything other full-on accounting type software. Sure, you can kinda/sorta make it be one, just bear in mind you're banging a nail in with a screwdriver. I'll tell you though, after at least fifteen years of using various software, back to Microsoft Money with some Palm Pilot app for entering receipts on the go, YNAB is the first one that actually 'works' and lets me get and stay ahead of things, rather than just avoiding going below zero on any given month.
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Dec 22, 2016 20:48
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dreesemonkey posted:Personally, the value of my house is almost irrelevant, I don't plan on selling it ever/anytime soon. Yeah, basically this. Even if I do sell it, it's likely because I'm buying something else, so the value just gets moved to another primary residence and mortgage debt either increases or decreases accordingly.
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Dec 23, 2016 03:52
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Hmmm Financier has a heatmap for cashflow. Kinda want that in nYNAB.
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Dec 23, 2016 19:14
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Combat Pretzel posted:Hmmm Financier has a heatmap for cashflow. Kinda want that in nYNAB. It's not a feature that I find at all useful, sadly, because I just date my transactions the date I account them after they've posted, which is weekdays and not weekends.
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Dec 23, 2016 19:22
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Ugh... I have 2 weeks worth of purchases I need to go back and enter into YNAB. Someone was visiting and I didn't really feel comfortable working on my finances/budget while I was with them so I just sort of shrugged my shoulders and told myself I would go back and enter it all later.
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Dec 25, 2016 16:48
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I find try that I fall behind every couple of months in my transactions. Makes doing my budget a lovely grind. To the point where I have done 3 of my 4 accounts, but am now dreading manually entering data from my main credit card. Almost makes me want nynab for the account syncing...
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Dec 25, 2016 17:42
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I'm soooooo much better st keeping my accounts balanced in nynab. Every day at work I pop it open, hit sync, double check it against my bank account, and I'm golden. Five minutes a day and everything is great. I used to let it sit for a week or two in old ynab with tons of piddling $5 fast food transactions piling up and a bunch of money going into the "I'm a dumbass" category for my own inability to manage things.
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Dec 26, 2016 00:02
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You people should really get the classic ynab mobile app and enter the transactions right when you buy things.
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Dec 26, 2016 12:04
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HardDiskD posted:You people should really get the classic ynab mobile app and enter the transactions right when you buy things. I have the app, I just never use it. I don't really have a problem with keeping ynab up to date. It was just someone was visiting and I didn't want to bust out my laptop while we were hanging out to go through my finances, and also have someone else see how much I make/have/owe/etc.
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Dec 26, 2016 16:35
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HardDiskD posted:You people should really get the classic ynab mobile app and enter the transactions right when you buy things. It took me a while to get in the habit of this but now it's second nature. It's great.
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Dec 26, 2016 17:15
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HardDiskD posted:You people should really get the classic ynab mobile app and enter the transactions right when you buy things.
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Dec 26, 2016 18:05
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Is there really a reason to reconcile ynab? I use ynab v4 and just mark things clear as they clear the account. In the years I've used the program, I've never once reconciled. What's the benefit?
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Dec 28, 2016 20:11
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If you get off track by forgetting to log something or having a typo or putting it in the wrong account or whatever, it puts you back on the level with your actual balances. That's really it.
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Dec 28, 2016 20:46
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rotaryfun posted:Is there really a reason to reconcile ynab? I use ynab v4 and just mark things clear as they clear the account. In the years I've used the program, I've never once reconciled. What's the benefit? If you're super organized then I suppose there's little benefit, but it's nearly zero effort to pick a reconciliation date (use your statement date) and then use YNAB's recommended value which should match up with your statement balance. If it doesn't match then this is your opportunity to correct any errors. If it does then you're already done, just two clicks needed. Super easy. The power in reconciliation is knowing that your balance should be X dollars for Y dates and being able to sign off that it is correct. After you reconcile, the green C symbol for "cleared" changes to a lock and reconciled entries become hidden so the account view is much tidier. It's almost like a default "current month only" view, making it a bit easier to visually see cleared/uncleared items that should match your current statement. My method for finding missed entries is to sort by descending outflow value so it's nice that reconciled items are excluded and all that's shown are the relevant transactions. I suppose it's also an indicator of what credit card items have been billed to you but have not yet been paid if you're juggling payments. Tldr: If you've missed an entry, reconciling can help you find it. If you haven't missed any then reconciling takes 2 seconds and filters out past entries so that your account view is much cleaner and easier to sort through.
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Dec 28, 2016 21:07
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Yeah that would probably be nice. Maybe I'll play with it. I'm afraid of it messing something up though.
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Dec 28, 2016 21:11
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I reconcile weekly because when I do eventually screw up it limits the range of transactions that could be the problem I don't reconcile my cash account because gently caress that
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Dec 28, 2016 21:12
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I usually go through about once every week or two to mark transactions as cleared so this is when I catch any missed entries. Most spot-checking is done by comparing YNAB with Mint as it compiles all of my accounts in to one place and I don't need to log in to separate bank websites. Reconciliation itself I do monthly, whenever I get an email saying a new statement is ready. I just open that statement pdf, set YNAB to reconcile on statement date, and verify that my statement balance is the same as the YNAB balance. Most of my errors have been corrected in my previous reviews so it's almost always accurate and takes two seconds. If not then sort by outflow and go down the list until I find discrepancies, usually just taking a minute or so. rotaryfun posted:Yeah that would probably be nice. Maybe I'll play with it. I'm afraid of it messing something up though. You don't even need to go back to catch up or anything because your statement will include payments as well as transactions so everything would balance out. Just open your most recent statement and verify that YNAB matches on that date (+/- a day or so if your posted transaction dates don't match), then it'll do its magic and apply it to all previous transactions. It's so nice that I can shuffle through my account views and only see ~10 transactions for the current month instead of a huge list of every purchase since the account was opened. Teeter fucked around with this message at 22:31 on Dec 28, 2016 |
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Dec 28, 2016 21:19
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Teeter posted:It's so nice that I can shuffle through my account views and only see ~10 transactions for the current month instead of a huge list of every purchase since the account was opened. Yeah this is what I'm looking for. Thanks for the input folks.
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Dec 28, 2016 22:14
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I've been trying out nyab and the new credit card system seems completely incomprehensible to me. It's giving me a Yellow warning and saying that I've got $X of activity on my credit card, but $0 budgeted... which makes no sense to me because every dollar of that was categorized in the transaction that created the spend under one budget category or another. Why does it want me to double budget my credit card payments? I feel like I'm missing something.
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Jan 17, 2017 16:35
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Steampunk Hitler posted:I've been trying out nyab and the new credit card system seems completely incomprehensible to me. It's giving me a Yellow warning and saying that I've got $X of activity on my credit card, but $0 budgeted... which makes no sense to me because every dollar of that was categorized in the transaction that created the spend under one budget category or another. Why does it want me to double budget my credit card payments? I feel like I'm missing something. Don't touch it, just close the group and let nYNAB manage it. I THINK it's useful if you don't pay off your balance each month. It's confusing and can cause problems and they should have implemented that much differently.
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Jan 17, 2017 16:44
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If you pay off your card every month, just create a regular account for the credit card. The debt you occur on the card gets summed up with your net worth anyway, so when you end up having to pay it off, it's a zero sum game. And everything gets reflected properly in the budget categories.
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Jan 17, 2017 17:02
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I don't carry a balance on my credit card, and I find nYNABs handling of credit cards pretty simple and intuitive, I can run through a simple example. Lets say you start off with $100 in a checking account and a credit card with no balance. When you add a credit account to YNAB, it automatically creates a category for it in your budget. Now say you have a food category alongside it, with $50 budgeted: code:However, that money has not left your checking account yet, but it has left your food category and gone to your credit card payments category, to account for your future credit card payment: code:code:
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Jan 17, 2017 22:44
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Fano posted:I don't carry a balance on my credit card, and I find nYNABs handling of credit cards pretty simple and intuitive, I can run through a simple example. This actually makes sense to me, although I've got maybe a weird case that I'm not sure how it's going to handle it. My Amazon Prime card adds 5% cash back as a statement credit so my balance owed on the card has decreased (which I added as a inflow to be budgeted transaction) but my amount Available for payment has stayed the same. I'll be curious to see how that is handled once the bill comes due and I pay it off.
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Jan 18, 2017 00:03
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Steampunk Hitler posted:This actually makes sense to me, although I've got maybe a weird case that I'm not sure how it's going to handle it. My Amazon Prime card adds 5% cash back as a statement credit so my balance owed on the card has decreased (which I added as a inflow to be budgeted transaction) but my amount Available for payment has stayed the same. I'll be curious to see how that is handled once the bill comes due and I pay it off. Then I just buy stuff with the credit and it never hits my statement or ynab. Love that easy to use free money.
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Jan 18, 2017 03:08
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Defenestration posted:Buh? My Amazon card just kicks out $$ credits toward my balance on Amazon. I've spent like 490.00 this month on my Amazon Card, so nynab has that "available" for me to pay my bill. However the Amazon Prime Store Card applied a $10 credit to my credit card account, lowering the amount I owe. To me it seemed like the sane way to handle this was to just add a inflow transaction to my CC that treated that as income. This makes the balance on the CC correct as well as not reducing the original spend, it just frees up that money to spend elsewhere. However this confuses the nynab system that still has $490 (instead of $480) "available". I'm going to have to wait I guess to see what it does once I actually pay the $480, if it zeros out the bill or if I need to convince it to forget about that $10 somehow.
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Jan 18, 2017 03:38
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Defenestration posted:Buh? My Amazon card just kicks out $$ credits toward my balance on Amazon. Steampunk Hitler posted:I've spent like 490.00 this month on my Amazon Card, so nynab has that "available" for me to pay my bill. However the Amazon Prime Store Card applied a $10 credit to my credit card account, lowering the amount I owe. To me it seemed like the sane way to handle this was to just add a inflow transaction to my CC that treated that as income. This makes the balance on the CC correct as well as not reducing the original spend, it just frees up that money to spend elsewhere. However this confuses the nynab system that still has $490 (instead of $480) "available". I'm going to have to wait I guess to see what it does once I actually pay the $480, if it zeros out the bill or if I need to convince it to forget about that $10 somehow. You guys are talking about two different cards, FYI. Steampunk is talking about the Synchrony card, Defenestration is talking about the Chase card.
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Jan 18, 2017 03:44
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BAE OF PIGS posted:You guys are talking about two different cards, FYI. Steampunk is talking about the Synchrony card, Defenestration is talking about the Chase card. I'm also still on classic YNAB (4eva) so I try not to comment on nYNAB shenanigans
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Jan 18, 2017 04:26
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Defenestration posted:Buh? My Amazon card just kicks out $$ credits toward my balance on Amazon. Don't do this. You're passing up 3% cash back on your new purchases. Put your credit toward statement credit.
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Jan 18, 2017 08:18
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Steampunk Hitler posted:I've spent like 490.00 this month on my Amazon Card, so nynab has that "available" for me to pay my bill. However the Amazon Prime Store Card applied a $10 credit to my credit card account, lowering the amount I owe. To me it seemed like the sane way to handle this was to just add a inflow transaction to my CC that treated that as income. This makes the balance on the CC correct as well as not reducing the original spend, it just frees up that money to spend elsewhere. However this confuses the nynab system that still has $490 (instead of $480) "available". I'm going to have to wait I guess to see what it does once I actually pay the $480, if it zeros out the bill or if I need to convince it to forget about that $10 somehow. For cash back you need to take out that amount that was budgeted to the card. So you would budget -10 in this case for that credit card.
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Jan 18, 2017 12:46
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Steampunk Hitler posted:I've spent like 490.00 this month on my Amazon Card, so nynab has that "available" for me to pay my bill. However the Amazon Prime Store Card applied a $10 credit to my credit card account, lowering the amount I owe. To me it seemed like the sane way to handle this was to just add a inflow transaction to my CC that treated that as income. This makes the balance on the CC correct as well as not reducing the original spend, it just frees up that money to spend elsewhere. However this confuses the nynab system that still has $490 (instead of $480) "available". I'm going to have to wait I guess to see what it does once I actually pay the $480, if it zeros out the bill or if I need to convince it to forget about that $10 somehow. That's what I do for CC rebates. Unless it's for like a rebate on a specific purchase, then I apply it to the appropriate category.
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Jan 18, 2017 13:49
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Does oldYNAB, or newYNAB, have any sort of transaction log for budgeting? Like: 2017-01-01 9:00 AM - 1000 bux inflow 2017-01-01 9:30 AM - 500 unassigned bux allocated to Groceries 2017-01-01 9:30 AM - 200 unassigned bux allocated to Booze 2017-01-01 9:30 AM - 100 unassigned bux allocated to Cable and Internet 2017-01-01 9:30 AM - 200 unassigned bux allocated to Savings 2017-01-02 9:00 AM - 50 bux unallocated from Groceries 2017-01-02 9:00 AM - 50 unassigned bux allocated to Restaurants YNAB shows you your spending, but I can think of times when it might be interesting to see how you're shuffling around your budget, you know?
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Jan 18, 2017 15:48
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Henrik Zetterberg posted:Don't do this. You're passing up 3% cash back on your new purchases. Put your credit toward statement credit. e, AH I understand what you are saying now. That I shouldn't use amazon disney dollars. This is also logical Defenestration fucked around with this message at 04:46 on Jan 19, 2017 |
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Jan 19, 2017 04:44
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