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Harminoff posted:If anyone wants to feel better about their financial situation I found this cool channel where this guy goes through people's budgets. Pretty entertaining! Yes. I've been watching this dude for about a month now. The mindsets of some of his guests are fascinating.
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Mar 23, 2023 02:40
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Reminds me of that one dude who posted a budget log thread in BFC years and years ago. Can’t remember his name, but he tried living like a baller and spent so much loving money on stupid poo poo. It was a really long thread of everyone telling him what a dumbass he was and him refusing all advice. Good times.
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Mar 23, 2023 03:46
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Henrik Zetterberg posted:Reminds me of that one dude who posted a budget log thread in BFC years and years ago. Can’t remember his name, but he tried living like a baller and spent so much loving money on stupid poo poo. It was a really long thread of everyone telling him what a dumbass he was and him refusing all advice. Good times. Is that a thing? Posting your budget and getting roasted by goons?
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Mar 23, 2023 03:53
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literally this big posted:Is that a thing? Posting your budget and getting roasted by goons? It definitely used to be because I got roasted in there was I was like 18 or 19
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Mar 23, 2023 04:02
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literally this big posted:Is that a thing? Posting your budget and getting roasted by goons? Yeah and it was loving glorious to read threads of people who were too stubborn to take good advice.
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Mar 23, 2023 04:04
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Henrik Zetterberg posted:Reminds me of that one dude who posted a budget log thread in BFC years and years ago. Can’t remember his name, but he tried living like a baller and spent so much loving money on stupid poo poo. It was a really long thread of everyone telling him what a dumbass he was and him refusing all advice. Good times. This was Slow Motion, right?
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Mar 23, 2023 04:34
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Referee posted:This was Slow Motion, right? Yes!
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Mar 23, 2023 04:34
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Haven’t reread this in a while but last I recall he wound up a success story of sorts  https://forums.somethingawful.com/showthread.php?threadid=3869178&perpage=40&noseen=1
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Mar 23, 2023 04:38
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Whoa, definitely did not see that. Thanks!
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Mar 23, 2023 05:10
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This feels like a dumb question but I am not sure how to deal with this situation in YNAB4: I am about to redo my kitchen, and to do so have taken out a HELOC and also have a 0% APR credit card. Depending on the source of the expense, I may use one or the other to pay for things (contractors who don't take credit cards will go on the HELOC, etc). I've already added the HELOC as an off-budget account, and added a monthly item to the budget as 'HELOC payment'. This is straightforward. But I am not sure what to do about the 0% APR card. It is 0% for 18 months so I will be treating it like another loan and just paying the minimums for a while, and at the end of the 18 months will either have it completely paid off, or would transfer the balance over to my HELOC. How do I deal with this? For example, let's say my "kitchen remodel" category item currently has $1000 in it, but this weekend I went to Ikea and ordered my countertops which were $2000 and put it on the 0% APR card. Do I assign the purchase to "kitchen remodel" which would then go negative? Or should I add the card as an off-budget item just like the HELOC and just add another category for the monthly payment?
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Mar 27, 2023 14:43
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Sirotan posted:This feels like a dumb question but I am not sure how to deal with this situation in YNAB4: I am about to redo my kitchen, and to do so have taken out a HELOC and also have a 0% APR credit card. Depending on the source of the expense, I may use one or the other to pay for things (contractors who don't take credit cards will go on the HELOC, etc). I've already added the HELOC as an off-budget account, and added a monthly item to the budget as 'HELOC payment'. This is straightforward. But I am not sure what to do about the 0% APR card. It is 0% for 18 months so I will be treating it like another loan and just paying the minimums for a while, and at the end of the 18 months will either have it completely paid off, or would transfer the balance over to my HELOC. How do I deal with this? I would add the CC in as a regular credit card and then I'd have the HELOC and CC as separate sub-categories under the kitchen remodel and allocate the countertops to the kitchen remodel-CC category. YNAB will pull money from the credit card to cover your overspending and then you can set a target date to pay off the CC by the time the promo APR ends so you know how much to allocate. You should have a general idea of what you are going to spend on the kitchen already anyway. I suppose you could also add it is a linked loan too. I'd just make sure the spend gets properly linked back to the kitchen remodel. With an unlinked, off-budget account I'd be worried of temptation to spend more on the credit card and coming to the incorrect assumption that you are on track or under budget on the kitchen remodel.
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Mar 27, 2023 16:37
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Shats Basoon posted:I would add the CC in as a regular credit card and then I'd have the HELOC and CC as separate sub-categories under the kitchen remodel and allocate the countertops to the kitchen remodel-CC category. YNAB will pull money from the credit card to cover your overspending and then you can set a target date to pay off the CC by the time the promo APR ends so you know how much to allocate. You should have a general idea of what you are going to spend on the kitchen already anyway. I suppose you could also add it is a linked loan too. I'd just make sure the spend gets properly linked back to the kitchen remodel. AFAIK I can't do most of the things you describe with YNAB4, I also don't know how much is going to be put on the credit card at this point (still in the process of getting quotes from trades). I am not particularly worried about overspending, I am just trying to figure out a sane way of recording it all since I've never carried a balance on a credit card since using YNAB and there will likely be balance transfer shenanigans happening to minimize the amount of interest I am paying on the whole project. Maybe it makes more sense to have both the card and HELOC on budget and just have one category perpetually in the red until it all gets paid off. I've got my mortgage as an off-budget item which is why I kinda defaulted to doing it that way at first.
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Mar 27, 2023 21:26
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For some reason the amount in my checking account is not reconciling with my budget. Like if I’ve overspent this month, it shows I only overspent by $500, which I should be able to cover in my checking, but my checking account only has $200 in it. I do my budget slightly different than YNAB wants so that might be some confusion. At the beginning of the month, I list all my expenses. Let’s say that totals $10000. My salary doesn’t change and I know I bring in $12000 a month. Based on that, I know at the end of the month I should have a $2000 surplus, which I’ll put into my emergency fund (which is just listed as a tracking asset account). Sometimes things happen, and if I budgeted $800 for groceries but spent $900, I adjust the budgeted amount to $900 which reduces my surplus to $1900. Given the above example, I should have $1900 in my checking account ready to move into my emergency fund at the end of the month. However, this month there was only $1500. I account for every item I purchase so I’m not sure where the hiccup is. The only other thing I can think of is I have a credit card which I use 90% of my purchases for. When I record those transactions, they deduct from the appropriate budgeted amount and I pay off the credit card each month. Any ideas?
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Mar 29, 2023 18:36
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nwin did you have any negative categories from the previous month? These don't transfer to the next month (unlike a category surplus), so perhaps you had spending last month that accounts for the $400 difference. Also, it sounds like you should try the account balance reconciliation and see if that creates a $400 adjustment.
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May 30, 2023 00:34
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Dr. Mix posted:nwin did you have any negative categories from the previous month? These don't transfer to the next month (unlike a category surplus), so perhaps you had spending last month that accounts for the $400 difference. I can’t recall. I’ve ended up trying something different with a new budget. Basically instead of living paycheck to paycheck, I set aside enough in my checking account to cover a months worth of expenses and budgeting from there…basically how YNAB wants you to operate. I’m losing out on HYSA interest, but it seems to be working and reconciling a bit better so far.
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May 30, 2023 14:08
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My partner uses Chime, and we’re looking for a budget app that can track all the purchases. A lot of the ones I use can’t connect to chime, any recommendations? Looking for something we can connect to the card/bank that will just automatically track every time you use the card.
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Jun 10, 2023 20:34
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Just started using Copilot and so far I love it. These apps live or die by their UIs, and this is the first one I've tried that has a decent one. Hopefully that means I'll stick to it. e: Oh look I have a referral code. 2 months free: https://copilot.money/link/QozMbrrz58ZxDEev5 KOTEX GOD OF BLOOD fucked around with this message at 04:43 on Jun 13, 2023 |
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Jun 13, 2023 04:05
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That doesn't look like it's a zero-based budgeting app? So not really a YNAB competitor.
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Jun 13, 2023 05:10
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Idk whether it qualifies as zero-based, but as far as I can tell it does the same thing as Buckets except a lot better
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Jun 14, 2023 04:46
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Copilot is a beautiful UI experience on iOS. However, I still find it to be a graphical review of past financial activity as it relates to goals vs. an actual as-it-is-now decisions and budget. YNAB is powerful because it is all what-is and what-do now and less theoretical or analytical. It forces you to make decisions on existing financial situations and adapt real time. I don’t think I can feel confident in any other method now.
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Jun 14, 2023 18:52
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Just set up nYNAB and am wondering if I just have to deal with my bills looking underfunded/hosed because I did it on the 23rd. If I let it start building from the starting inflow, will it balance better over the next month? As it stands right now, I'm getting complained at for bills not being funded when they were... just before the import.
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Jun 23, 2023 07:34
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For the month of June you should only have the cash you currently have available, and in June you should only budget what you have left due in June. Any left over you have after budgeting out the remainder of this month can go towards July's obligations.
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Jun 23, 2023 12:49
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Fezziwig posted:For the month of June you should only have the cash you currently have available, and in June you should only budget what you have left due in June. Yeah this, or backdate your starting balance and import/enter all your past transactions for June if you want a full month for reporting/historical reasons later.
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Jun 23, 2023 14:19
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You can just remove the goal for the month and add it to July as well. That's what I've done in the past. It effectively skips the current month.
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Jun 23, 2023 14:50
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Sick, thanks everyone. I’ll try budgeting for EOM first, but I may just remove the goal and start fresh.
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Jun 23, 2023 15:45
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The thing about ynab is you'll be changing your goals/targets every so often anyway; it encourages you to approach every new month with a "go with the flow" attitude.
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Jun 23, 2023 15:56
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Ooh I like the little filters [All] [Underfunded] [Overfunded] ...
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Jun 26, 2023 21:27
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I haven't reconciled transactions in over a year now, and every time I think of going back and doing it, it will definitely take longer than I want it to. I've been putting all my transactions in manually, and it has auto-import for my wife's transactions, but there's no way I'll be able to go back and reliably categorize every transaction. 5000 Amazon transactions is such a bitch to go back and match with both of our Amazon accounts. What exactly does a fresh start do? Will it delete all previous transactions while keeping my budget line items in tact? I like having the net worth graph and historical data, but if I lost all that, I might actually attempt the massive reconciliation.
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Jun 26, 2023 22:57
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Henrik Zetterberg posted:I haven't reconciled transactions in over a year now, and every time I think of going back and doing it, it will definitely take longer than I want it to. I've been putting all my transactions in manually, and it has auto-import for my wife's transactions, but there's no way I'll be able to go back and reliably categorize every transaction. 5000 Amazon transactions is such a bitch to go back and match with both of our Amazon accounts.
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Jun 26, 2023 23:06
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KOTEX GOD OF BLOOD posted:See this is why I use Copilot - it automatically categorizes transactions for you and lets you make rules for recurring transactions. It also has an Amazon plugin to categorize transactions from there based on what you bought. Does YNAB actually make you manually categorize each one? It marks categories as whatever you last assigned a merchant as. So for "Costco Gas," it just marks it as Fuel every time. But for Amazon, I have to change it to whatever I purchased last. That Amazon plugin for Copilot sounds amazing and would eliminate 90% of my headaches with my wife refusing to enter stuff manually or categorize stuff, haha. e: I just checked out the website and it doesn't mention anything about auto importing transactions, so I assume it isn't supported? Henrik Zetterberg fucked around with this message at 23:42 on Jun 26, 2023 |
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Jun 26, 2023 23:39
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Henrik Zetterberg posted:It marks categories as whatever you last assigned a merchant as. So for "Costco Gas," it just marks it as Fuel every time. But for Amazon, I have to change it to whatever I purchased last.  There’s a good Help article about it in the iOS and mac apps. If you want to give it a shot, my referral code for a couple free months is upthread.
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Jun 27, 2023 02:41
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Walmart is the worst for me, just because everything you get from there is so random, and If you don't insta categorize it, your gonna be spending an evening just looking up receipts and splitting it.
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Jun 27, 2023 02:53
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KOTEX GOD OF BLOOD posted:Based on this article, sure sounds like it does auto import transactions and matches them to monetary transactions too. Oh no, I meant auto-import from all my banks like YNAB does. Harminoff posted:Walmart is the worst for me, just because everything you get from there is so random, and If you don't insta categorize it, your gonna be spending an evening just looking up receipts and splitting it. Yep, this is why everything in my $650 Costco trips gets marked as just groceries, unless I buy a smoker, a couch, or something large.
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Jun 27, 2023 02:56
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Henrik Zetterberg posted:Oh no, I meant auto-import from all my banks like YNAB does.
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Jun 27, 2023 03:06
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I don't actually use any bank scrape features in budget apps right now. It's against the terms of service of my bank account and I don't want to have to fight my bank if somehow my account is compromised and drained or if Plaid gets hacked. The banks also constantly break sync services like Plaid here anyway - the status for my bank on YNAB's website reads:quote:There is a long-term issue causing connection errors and transactions to not import for CIBC. While it is expected that you may not be able to connect or import successfully at the moment, our import provider is still working behind the scenes to resolve this issue so we recommend that you try to connect every few weeks just in case the issue has been resolved before we've been notified. Once "open banking" standards become supported industry wide in Canada (which is coming, albeit slowly) and is adopted by Plaid/YNAB/etc then I will probably set it up. For now I manually enter transactions as they happen so I can do any splits and see immediate impacts to my budget. I periodically reconcile by exporting qfx files from my bank (I just download, switch to ynab tab, drag from bottom of browser into the relevant account in ynab to import). Looked into Copilot and seems great if you just want to track things but doesn't do zero-dollar envelope budgeting ("every dollar has a job, you can't budget for money you don't have") so that's a hard pass for me. Same reason I didn't bother with Mint.
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Jun 27, 2023 12:57
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KOTEX GOD OF BLOOD posted:Oh yeah it does do that, that is table stakes for a budgeting app these days. You sign in right in the app. They support a lot of banks, even some obscure ones - I am thinking of switching to Walden Mutual and Copilot supports that, for instance. Oh neat! Maybe I'll give Copilot a shot. The price is much better than YNAB too. I assume the mobile app doesn't suck rear end?
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Jun 27, 2023 18:08
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Henrik Zetterberg posted:Oh neat! Maybe I'll give Copilot a shot. The price is much better than YNAB too. I feel dumb for buying a Buckets license now lol.
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Jun 29, 2023 14:21
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KOTEX GOD OF BLOOD posted:It’s excellent yeah. They only just debuted the desktop app in the last few weeks actually. I was less interested when it was mobile-only, but both the mobile and desktop apps are very well done and the syncing Just Works. The support is killer too. Isn't Copilot just a fundamentally different thing to YNAB and Buckets though? It looks to me like Copilot is more of a Mint competitor, whereas YNAB and Buckets are digitised cash envelope systems
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Jun 29, 2023 17:41
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101 posted:Isn't Copilot just a fundamentally different thing to YNAB and Buckets though?
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Jun 29, 2023 18:00
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Does Copilot have an Income vs Expense report like YNAB? Does any other personal finance app other than YNAB actually? --edit: US only, too. Can't even check it out. Seems like it's not having any significant reports, either.
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Jun 29, 2023 18:08
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