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More budget frustration: My husband just told me he was accidentally overpaid by the military for the past 3 months. He dropped jump status (which is him jumping out of planes) so that should have decreased his pay by $150/month. However, his direct supervisor didn't turn in the paperwork 3 months ago like he should have, so he got the pay, and now they want to take it all out of the check coming on the 15th, so a total amount of $450. The reason he dropped jumping is because of some medical back problems. The good is, I put $700 in various savings accounts on the first, so we can cover this by pulling from savings, either by directly writing a check the Army to cover the overpay, or by letting them just take it and moving from savings to get through the rest of this month. The bad is, that $700 was the first we had saved in a long time. So I feel like this $450 thing is like one step forward, two steps back, you know? I guess it could be worse. Had I not made a budget at all this month, then we'd really be in a world of hurt, and probably would wind up charging the $450 in bills not covered (like our cell phone bill, car insurance, utilities that all get paid between the 15th and end of month). So at least there's that. It'll all be covered in cash, somehow. I really hope that in September there are no hideous surprises like this waiting--I really would like to put money in savings that actually stays there more than a week. 
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Aug 7, 2013 20:38
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In addition to the helpful answers I got here about tracking my credit card spending in my budget spreadsheet, I found this and it really, really was a wakeup call: http://www.youneedabudget.com/blog/2013/are-you-riding-the-credit-card-float/ I was doing the float. Even though I'm confident I can avoid overspending to churn points, I'm going to put that on hold until I am a month ahead.
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Aug 7, 2013 21:36
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thebushcommander posted:So I don't think I am using YNAB correctly... Dantu posted:... credit card spending... float. That's why cash is meaningless to me. Stack of $20s? Bam. Gone. It's all blow money if it's not tied to an account. (It's not that bad because I know to only keep cash for food or specific items.)
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Aug 7, 2013 23:17
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Morning folks. For those of you use who Excel to track your budget, do you guys have a good template to start with? I'm very curious. I currently use Excel to make my budget (that I barely stick to because I'm poor, unemployed, and a student! Is that enough excuse?!) and Quicken to track my expenses, and export a report to Excel to compare the two to every now and then. I really like how Quicken & I track my expenditures, but I think Quicken budgeting sucks horridly. Once things stabilize for me income wise a bit, I am going to try to use Quickens budget tools in earnest, and next time YNAB goes on sale I will get a copy to try it. I don't think trying it right now would give me a full picture of what it can/can't do, but I think it will be worth using in a month or two. I kind of like what I'm seeing from Phantom which I gather is Excel generated. Mill and 5 decimals for fractions? That's some precision right there. So, how exactly are you going about tracking it in Excel? Thanks!
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Aug 8, 2013 11:23
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SiGmA_X posted:Morning folks. For those of you use who Excel to track your budget, do you guys have a good template to start with? I'm very curious. If mint.com is available in your country, it sounds like it would be even better for your... approach.
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Aug 8, 2013 15:36
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What version of Quicken do you use, anyway? The 2013 release has a budgeting module similar to YNAB. Also, Intuit sold their Financial Services part for a billion bux, under the guise of focusing on their core products like Quicken and Mint. Maybe Quicken starts to suck less come next year. --edit: On the other hand, if YNAB would get its head out of its rear end and add scheduled bill based cashflow forecasting, it'd do what I miss from Quicken. Combat Pretzel fucked around with this message at 15:50 on Aug 8, 2013 |
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Aug 8, 2013 15:46
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I wasn't really looking at the account balance number as that just shows the total of all the paychecks I entered. However, based on budget items that never change the available to budget number should be accurate, I'll just need to track misc spending that pops up that I haven't thought of outside whats currently there if I decide to stick with YNAB and not go with a spreadsheet instead. The goal is really to save $1000 a month minimum and as it sits now YNAB is projecting 1300-1400 depending on each month with all static spending items already in there. We'll see how it goes I guess. Just need to force myself to stop buying poo poo.
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Aug 8, 2013 18:13
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Combat Pretzel posted:What version of Quicken do you use, anyway? The 2013 release has a budgeting module similar to YNAB. tuyop posted:If mint.com is available in your country, it sounds like it would be even better for your... approach.
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Aug 8, 2013 19:11
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SiGmA_X posted:I kind of like what I'm seeing from Phantom which I gather is Excel generated. Mill and 5 decimals for fractions? That's some precision right there. So, how exactly are you going about tracking it in Excel? Were I to look at a spreadsheet model, I would say you need a combination of an "account ledger" together with the actual "monthly budget". The former must show an overview of account balances plus all transactions, and the latter must have the ability to display the transactions you need to apply a budget to incoming funds. A quick search yields a few shared items that might prove helpful, to the point of showing a proper account ledger (which may be a bit overkill as it actually has separation of credits and debits and is all double-entry-proper), and a general monthly budget spreadsheet. You can usually get away with multiple accounts per sheet (or one account per sheet if that's your whim), with the account name and overall balance at the top. Put all the transactions beneath that in reverse chronological order. To add a new transaction, insert a new row; all reasonable spreadsheets will automatically extend the accumulating functions so the balance will update correctly. Summarize across the sheets into an account overview, showing all balances (cleared and uncleared) for those accounts, and use another to construct your budget. Creating a "button" to automatically create the transactions when a "budget is applied to income" takes a bit more work and will depend on the spreadsheet software. Hence the reason I'm using a database as a backend for my tools. It's a bit more proper, enforces proper (monetary) transaction application, and it's a great deal faster to multiply a bunch of percentages by an amount and turn them into account transactions directly. I also get silly things like arbitrary SQL if I'm searching for strange patterns or whatnot.
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Aug 9, 2013 04:55
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thebushcommander posted:... I'll just need to track misc spending that pops up that I haven't thought of outside whats currently there if I decide to stick with YNAB and not go with a spreadsheet instead. Budget emergency savings of $1000/mo. Budget $200/mo for drinking liquor at bars. Budget $75/mo for buying games/toys/etc. Budget $75/mo for mini-vacations or a nice dinner or whatever. Budget $150/mo as random blow money. You should have very little money that isn't allocated for a specific purpose if you want to be a successful saver. As you're still analyzing your options for budgeting, so this next part isn't directed at you, but  I've been getting very concerned with how the word 'budget' has been used over the last couple of pages. For Americans, anyway --- I admit to zero knowledge of politics outside this country --- a budget is a forward-looking plan for income and expenses. People likely either have experience with smaller organizations (non-profits, church groups, Boy/Girl Scouts) or the federal budget. They know that a budget exists long before the money even appears in the coffers. Books for secretaries, treasurers, even introductory mathematics courses, speak of budgets in this way. A "balanced budget" for a non-profit requires that expected income match the planned expenses (usually annually). If you need a budget, you need a total plan; otherwise, I'm sorry, but it would seem there's only half of a budget.I have $183/mo allocated to "Budget Surplus" (effectively the emergency fund), plus $290/mo to capital expenses (televisions, major vehicle upgrades, computers, phones, toys), plus budgeted security savings in pretty much every category, so my effective savings rate falls in the 22-37% range (depending on if it's a Costco month, insurance month, etc.). I used this type of budget to make my money work well when I was getting out of debt, and I'm glad I did. It was much easier to quickly attack high-interest items because I always knew where the money was going, and I knew that I'd have the money to pay rent if I never touched that account when I went out to buy movies or whatever. It's a lot more difficult to "scrounge together $500" for some random b.s. purchase when you have to rape ten different accounts to make it happen. You need the money in the right place at the right time, or you're going to get stuck putting something on a credit card that shouldn't be there. Haphazardly clicking little up and down arrows like it's a game every fortnight seems like a surefire way to end up saying, "Oops, I guess pilfering that account last month for beer was a bad move because I forgot this bill is now due".
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Aug 9, 2013 05:25
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So phantom, just to clarify, do you actually have like eight different chequing and savings accounts at your bank or various banks?
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Aug 9, 2013 05:57
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Phantom - Thanks much for the info. I wish I still programmed, it could be sweet to write my own software to do this. You wouldn't happen to have yours published anywhere, would you?
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Aug 9, 2013 06:03
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I have multiple physical accounts, yes, so I can still pay bills in an emergency (such as identity theft  ). I do not have seventy different physical accounts, however, but it would take "a lot of work" (mentally and emotionally) to empty out food, entertainment, movies, annual memberships, and forest passes for hiking, just to go buy a new car with cash, for example. Indeed, food savings is actually stored in multiple physical accounts, as are several other items. One physical account is good for paying bills; another is better for earning interest; the latter is therefore "deep savings" or "emergency savings".When I was unemployed for three months at the beginning of 2012, my weekly unemployment was enough to pay my basic bills plus a few bucks extra if I didn't drive much, so I just started by running things at a slight monthly loss. I didn't have to "rebalance" everything, but neither did I go out and spend all my spare book money on new books and such. I merely calculated nominal time to death on the accounts, ran the numbers with everything pooled together, and figured out where the 40% mark was so I had a target date for "starting to get more vicious with money" (like spending more time finding coupons, researching food banks, and making even longer term preparations). I'm employed now, of course, but I still have a few accounts running in depletion mode in my current budget; they are simply too far ahead, and that money can be better used for something else. Sadly, while several of the interfaces dump out HTML, I abandoned the web-based transaction entry system in favor of one that supported tab-completion for account selection and other nice things. I suppose there would be a few acceptable approaches to get reasonable functionality with a web-based system, but several other public projects have priority at this time.  26 monthly budget items going into a 78-line account overview, averaging 78 transactions a month so far this year.
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Aug 9, 2013 07:39
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I might need to make my own thread here soon. I'm not going to get into too much e/n, but my dog was acting funny yesterday and I noticed he couldn't pee when he asked to go out, so I took him to the vet. That turned into finding out he has bladder stones and needs surgery to remove them. I had to take him to a specialty hospital 60 miles away yesterday, so they could do more tests to see if the stones in his kidneys would pose a problem. Thankfully, they don't, but the bill for this whole fiasco is going to be around $4,500. We have Trupanion insurance so that actual bite of this isn't going to be $4,500 (probably more like $850 or so), but I'm kind of in budget panic mode right now because we have to front the money and wait for reimbursement so it's all going to have to go on credit card(s). Anyways I had a thread on here in the past which really helped, so I guess expect to see one after the dust settles and I have actual numbers to work with after his surgery.
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Aug 14, 2013 21:12
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Every time I login to mint I see this alert. I leave it there because it makes me laugh a bit. Like I needed reminding that im spending too much on "broken leg".
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Aug 15, 2013 14:21
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Hashtag Banterzone posted:Every time I login to mint I see this alert.
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Aug 15, 2013 15:56
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Another YNAB question. Let's say I started August 1st, followed it exactly and have $600 left to budget. I would like to keep a buffer in my main checking account (from which all bills are paid). How do I keep this buffer into next month, but have the ability to budget to zero? Ideally I'd like a cushion equal to a full month's salary so that I'm paying bills with last month's checks, but for now a $500 buffer would suffice
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Aug 15, 2013 22:19
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If for some OCD reason you need your current month being zero, create buffer category, put the funds in there, then pull them out again the next month (putting a negative value into the field frees the funds).
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Aug 15, 2013 22:29
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Omne posted:Another YNAB question. Let's say I started August 1st, followed it exactly and have $600 left to budget. I would like to keep a buffer in my main checking account (from which all bills are paid). How do I keep this buffer into next month, but have the ability to budget to zero? Ideally I'd like a cushion equal to a full month's salary so that I'm paying bills with last month's checks, but for now a $500 buffer would suffice http://www.youneedabudget.com/support/article/rule-four-live-on-last-months-income
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Aug 15, 2013 22:29
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Omne posted:Another YNAB question. Let's say I started August 1st, followed it exactly and have $600 left to budget. I would like to keep a buffer in my main checking account (from which all bills are paid). How do I keep this buffer into next month, but have the ability to budget to zero? Ideally I'd like a cushion equal to a full month's salary so that I'm paying bills with last month's checks, but for now a $500 buffer would suffice Create a category called "Buffer" and throw it all in there.
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Aug 15, 2013 22:53
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Combat Pretzel posted:If for some OCD reason you need your current month being zero, create buffer category, put the funds in there, then pull them out again the next month (putting a negative value into the field frees the funds). Definitely a little OCD about how I see numbers and stuff! Me in Reverse posted:http://www.youneedabudget.com/support/article/rule-four-live-on-last-months-income Thank you! The "buffer" thing is exactly what I had in mind. Guess I should have spent more time going through the site rather than just playing around in the software
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Aug 15, 2013 23:01
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Personally I like "letting it roll". Just to expand a bit, keep in mind that by allocating money to categories, you ARE creating a buffer (because you're spending out of the categories, not the balance). As long as you've allocated enough for your expenses, you'll be fine. Some of those things you budget for monthly aren't monthly spending, so they build up. At this point, I'm well into the last month's income thing and with all the yearly/6month/etc. things I budget for I have a few thousand just sitting. I actually created an on-budget savings account to transfer it into just so it wasn't all in checking. But there's definitely nothing wrong with a buffer category if that fits your style better! Briantist fucked around with this message at 18:00 on Aug 16, 2013 |
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Aug 16, 2013 17:58
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Might just want to keep a buffer category for the sake of it, as secondary buffer to smooth out bigger variations in pay. I have a buffer category filled with around a 1000 bux to smooth out irregularities around the summer vacation period and X-mas.
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Aug 16, 2013 18:26
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Combat Pretzel posted:Might just want to keep a buffer category for the sake of it, as secondary buffer to smooth out bigger variations in pay. I have a buffer category filled with around a 1000 bux to smooth out irregularities around the summer vacation period and X-mas. Yeah our "buffer" category tends to end up as rolling with the punches money as well.
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Aug 16, 2013 18:33
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thebushcommander posted:So I don't think I am using YNAB correctly, either that or I am a moron. I picked this technique up off the YNAB forums, and it's working pretty well for me. I'm focusing on aggressively paying down credit card debt, and have been for about a year now. I also bought my mom (70) a copy during the Steam Summer Sale, and I sat with her in a Google Hangout for a couple of hours while we did the basic setup for her, and then I used this same projecting technique to discover that she's a hundred dollars or so in the red every month, and needs to find a way to supplement her income, or reduce her expenses. She's getting a roommate (Kathy, who is 68), and that'll turn mom's $121/mo deficit into a $339/mo surplus! I've been in the same job for 11 years, and my income barely fluctuates at all. I have YNAB account listed for Cash, and for my Checking Account. In the Cash account, I have entered conservative inflow transactions for each payday from now through the start of January, 2014.  That allows me to do a projected budget:  And I can see that if I spend to my budget rather than to my account balance (like I've done for 10.5 of the 11 years I've had this job), I'll have all of my debt paid off (save one account) and have a full paycheck in my buffer by the time I turn 46 at the end of January. When payday arrives, I go into my Cash Account, right click the transaction, select "Move to Account" -> (Chase Checking), then adjust the amount from the projected amount to the actual amount, then budget to zero. To answer your "Available to Budget" question - that goes back to YNAB Rule #1 - Give Every Dollar a Job. You'll see that my budget gives every dollar a job, even if that job is to sit in my account and do nothing for a while (i.e. is assigned to the "buffer" category). In your case, it sounds like you've got some "extra" money in your budget that you're currently blowing through every month by spending to your account balance. If you assign those dollars to "Save for building a house next year", and spend to your budget, then you'll actually be able to build that house! In addition, doing that sort of forecasting in YNAB motivates you by letting you clearly see what CAN BE, if you stick to your budget! 
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Aug 19, 2013 03:19
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(YNAB) Budgeting Practice question: I collect records, and sometimes sell them on eBay, etc. Would you budget that income as Income, or as an inflow in my Records category?
lament.cfg fucked around with this message at 00:41 on Aug 22, 2013 |
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Aug 22, 2013 00:39
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Me in Reverse posted:Budgeting Practice question: I collect records, and sometimes sell them on eBay, etc. Would you budget that income as Income, or as an inflow in my Records category? Ok, is it just me, or does it really feel like most of the questions like this should be redirected? Only you can know what you want to consider it as. Do you use the funds from selling the records to reinvest in your collection or do you consider it income? As long as your budget balances, it doesn't matter. Do what makes the most sense to you and your life. Budgeting (YNAB) is a tool, fit the budget to your life, not the other way around.
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Aug 22, 2013 00:42
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Rurutia posted:Ok, is it just me, or does it really feel like most of the questions like this should be redirected? Only you can know what you want to consider it as. Do you use the funds from selling the records to reinvest in your collection or do you consider it income? As long as your budget balances, it doesn't matter. Do what makes the most sense to you and your life. Budgeting (YNAB) is a tool, fit the budget to your life, not the other way around. I'm a little lost at this part... quote:Would you budget that income as Income Every dollar of inflow needs to have a job. You give a dollar a job by assigning it a Category in your Budget. Given that, what you're really asking is something that only you can answer (like Rurutia said), and that is... Generally speaking, do you (mentally, or actually): * Consider your Vinyl money to be separate from all the other money you have, and you only spend it on other Vinyl Purchases or... * Is it "just more money", and you routinely use Vinyl Money to buy gas/groceries/etc. If the former, I think I'd categorize the Inflow as "Vinyl" when you enter the inflow into your PayPal account¹, and just let the money ride in the "Vinyl" Budget Category from month to month. Alternately, I'd make an off-budget account, if you *never* spend the income you get from an Ebay sale on anything BUT more records. That's pretty unlikely, though. If the latter, I think I'd categorize the Inflow as "Income for (This/Next) Month", and put X dollars in my Buffer, since it's "extra" money. Both of those examples work for my life. You'll probably (and likely *should*) do it a little differently, as suits the way you think about your record collection. ¹ You DO have your PayPal account set up as an additional account in YNAB, right? It gets inflows and outflows and transfers, and you can use the PayPal Debit card to spend the money you earned selling stuff on Ebay to go buy gas or groceries, so it should, in theory, be listed on budget. Kenny Rogers fucked around with this message at 05:20 on Aug 22, 2013 |
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Aug 22, 2013 05:18
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Me in Reverse posted:(YNAB) Budgeting Practice question: I collect records, and sometimes sell them on eBay, etc. Would you budget that income as Income, or as an inflow in my Records category? Do an experiment and see what the charts for income and spending look like when you categorize (say) $1,000 as income vs. an inflow in the Records category. In your case, I think I would categorize the sale as income, but it could go either way. An example of when I would use an inflow with a category other than Income is for a refund. I recently bought something from Zappos, returned it and bought the replacement item directly (instead of waiting for the return to process). So both purchases were categorized as Clothing, and then when the refund went through, I categorized that as Clothing also instead of making it look like I got extra income and spent extra. I say look at the charts because this is the only place in YNAB where it becomes apparent that there's a different because spending is shown as a percentage of what you had available to budget (which is affected by income). Briantist fucked around with this message at 20:15 on Aug 22, 2013 |
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Aug 22, 2013 20:11
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Kenny Rogers posted:¹ You DO have your PayPal account set up as an additional account in YNAB, right? It gets inflows and outflows and transfers, and you can use the PayPal Debit card to spend the money you earned selling stuff on Ebay to go buy gas or groceries, so it should, in theory, be listed on budget. Edit: recommended if you have and use a paypal account a lot already. I really don't like them as a company. v v
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Aug 22, 2013 20:13
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Sometimes I'll put income into a category if I like, put a pizza on my credit card or something and one of my friends gives me some cash to cover their part of it. The other thing I do is make a "Reimbursement" category in my budget if like someone sends me to the store and gives me cash, cause I gotta put that stuff on my credit card for the sweet sweet points. Briantist posted:Edit: recommended if you have and use a paypal account a lot already. I really don't like them as a company. v
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Aug 22, 2013 20:37
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100 HOGS AGREE posted:Sometimes I'll put income into a category if I like, put a pizza on my credit card or something and one of my friends gives me some cash to cover their part of it. I would handle the grocery store situation in the same way (but probably wouldn't need a split). 100 HOGS AGREE posted:I haven't touched my PayPal account in ages, I really only keep it open to use my credit card (points!) to buy stuff from people who only use Paypal. I don't even use the instant transfer anymore.
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Aug 22, 2013 20:56
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Yeah, I thought about doing that but a lot of times my uncle will give me like 80 bucks and send me to pick up a bunch of things for him, and I don't want his purchases mucking up my numbers for the stuff I buy because I want to track how much money I'm spending on myself because I'm still trying to figure out my monthly averages. So I just dump it all in the reimbursement category so I know this purchase was someone else's poo poo and it shouldn't affect my planning for next month.
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Aug 22, 2013 21:04
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100 HOGS AGREE posted:Yeah, I thought about doing that but a lot of times my uncle will give me like 80 bucks and send me to pick up a bunch of things for him, and I don't want his purchases mucking up my numbers for the stuff I buy because I want to track how much money I'm spending on myself because I'm still trying to figure out my monthly averages. So I just dump it all in the reimbursement category so I know this purchase was someone else's poo poo and it shouldn't affect my planning for next month. If you dump into a reimbursement category you're actually mucking things up more (in my opinion). But if it's working for you and makes sense it's not the worst thing in the world.
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Aug 22, 2013 21:28
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Briantist posted:Actually that's exactly what my method would do. By transferring $80 from your credit card to your cash account (both on-budget), you are not spending anything (which is accurate). According to the budget, you didn't buy anything; it's just like transferring money from one checking account to the other. Example: I have $0 (nice and round). You give me $100 in cash. (I inflow that to my "Cash" account in YNAB. So far, so good.) I go to the dealer, and I buy $100 in methamphetamine and put it on my card. (Hey, it's a high tech dealer with Square or some poo poo, OK?) I stop at the ATM on the way home and put the $100 in cash into my checking account, and do a transfer from "Cash" to "Checking" in YNAB. I use that $100 to pay my credit card bill. That's a transfer from "Checking" to "Oceanic Airlines Platinum Miles Card" in YNAB. You are correct that you're not actually spending money. The issue that needs to be addressed is how to categorize the transaction from "Meth Hut" when it shows up on your Oceanic Airlines Platinum Miles Card statement. I think that 100 Hogs Agree is doing the right thing by categorizing that outflow as "Reimbursement", rather than "Meth Hut" or "Identical Twin Uncle" or whatever. That way his *.QFX purchase records (based in reality) that he downloads from his bank and credit card and import into YNAB will all match up nicely with the transactions from YNAB, and reconciling is a cinch. He didn't buy the methamphetamine for himself, and that $100 outflow shouldn't be reflected in the "Drugs and Medicinals" category for his budget, since he didn't spend any money in that category...for himself...and if he did include that, it would mess up his budget figures in months to come when he uses "Average outflows of the last 3 months" functionality. Kenny Rogers fucked around with this message at 01:19 on Aug 23, 2013 |
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Aug 23, 2013 01:16
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Hey man I never said meth. 
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Aug 23, 2013 02:06
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100 HOGS AGREE posted:Yeah, I thought about doing that but a lot of times my uncle will give me like 80 bucks and send me to pick up a bunch of things for him, and I don't want his purchases mucking up my numbers for the stuff I buy because I want to track how much money I'm spending on myself because I'm still trying to figure out my monthly averages. So I just dump it all in the reimbursement category so I know this purchase was someone else's poo poo and it shouldn't affect my planning for next month. 1. I expect to withdraw $200 for "food money" (which, as cash, will last me for quite some time, but yeah). 2. My neighbor gives me $100 to order medical supplies online (he diabetic and nearly blind, for the drug lords here) 3. I order the supplies on the credit card. $100 to keep it simple. 4. $100 transaction from (uncategorized) Savings to CC payment account. 5. $100 transaction from Food to Savings (cash from John Doe). 6. The cash in my hands is now Food money.  7. I can either withdraw $100 from an ATM, or wait a few weeks since I really don't need it for a while. When it comes time to run numbers, savings has a net change of $0 from these transactions, and the Food account shows a $100 outflow. Everything is proper for reporting purposes.
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Aug 23, 2013 04:04
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Kenny Rogers posted:There is actually a problem with doing that. I wouldn't have ever put that $100 in YNAB as income. I would have bought the meth on the card, and categorized it as a transfer to the cash account (since they're both on-budget, actually there is no category). Now you can transfer the $100 from cash to checking, and then from checking to CC if you want. The key is that you never entered it as income and your purchase was never categorized as spending. You transferred $100 from your credit card to your cash. What happens from there is business as usual.
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Aug 23, 2013 18:04
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I always put it as income because often he'll give me a hundred bucks, I'll spend 70 of it and he'll be like keep the change I don't give a poo poo. He's pretty lax with money. So I come out with income to add to my budget anyway.
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Aug 23, 2013 18:07
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This is just personal preference, but I don't like recording found money as income. I'd log the transaction as income, but give it a category. That way it doesn't show up as income for the month, it just affects the balance of the line item. You could even create an "Uncle" category and isolate it all there, so that when you make reports, you can easily remove it from the equation.
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Aug 23, 2013 22:38
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