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I'm just getting started with YNAB with the immediate goal of paying off all credit card and student loan debt ASAP. The CC is set up as a Budget Account and the student loan as an Off-Budget Account. I'm going to still be using the credit card for upcoming purchases (for which I'll budget), and I've watched the video on handling credit cards in YNAB. If I know I'll have a $400 auto insurance bill in April (paid every 6 months) should I be budgeting $400/5 for the month of December? Or should I budget $0 for auto insurance and put that money towards the pre-YNAB credit card debt? edit: working through the videos and it seems that my question is answered by asking myself "What does this money need to do before I get paid next" as well as the idea of budgeting only what you have available by prioritizing: immediate needs, bills, then rainy day funds Easychair Bootson fucked around with this message at 19:43 on Nov 30, 2014 |
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Nov 30, 2014 18:37
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| # ¿ May 22, 2024 03:30 |
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I have a question about Rule 3. The idea is that you have flexibility in your budget, so if you have an unexpected expense that causes you to go over your budget in that category, you simply reassign money from other categories where you may have a little extra budgeted. So the onus is on the budgeter to borrow responsibly, yes? It would be easy to borrow from savings instead of reducing the discretionary categories to cover it. Is it just a matter of priorities, and making certain categories off-limits except for dire emergencies?
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Dec 7, 2014 19:08
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tuyop posted:Well, yeah. Certain things obviously shouldn't be borrowed from, like your phone bill. Other things, like your giant tire/car repair category, can probably be replenished by cutting other expenses next month. That's how we run it, anyway.
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Dec 7, 2014 19:28
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GreatGreen posted:I currently use a credit card to buy pretty much everything, I use it to pay all my bills, etc. I pay it in full every month and have zero ongoing debt for it. How would you guys recommend I record this kind of spending in YNAB? http://www.youneedabudget.com/support/video/handling-credit-cards-in-ynab
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Jan 2, 2015 20:15
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Easy question here. I've got the following currently in a couple of categories:pre:budgeted balance clothing 75 85 spending 50 150
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Jan 6, 2015 22:09
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Excellent, thanks to both of you.
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Jan 6, 2015 22:53
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http://www.youneedabudget.com/support/article/flexible-spending-accounts Personally I just keep my HSA as an off-budget account and don't log any transactions that are paid from it. It only exists in YNAB so I can keep an eye on the balance. I do lose the ability to see my medical expenses in YNAB's reporting but I can live with that.
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Jan 8, 2015 15:57
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I've watched the "handling credit cards" video a couple of times but I'm still having trouble wrapping my head around things. We use the card day-to-day and currently can't pay the full balance. Well, we could, but that money is budgeted for other things in YNAB. My statement begins/ends around the 15th of the month. The statement that I just received looks like: Previous balance: $6257 Payments/credits: $(4355) Purchases: $2177 Interest: $9.64 New balance: $4088 I must not have calculated the December payment amount correctly because otherwise I wouldn't have been charged interest on purchases, since I would have been paying for purchases plus some to pay the balance down, right? I've got $750 allocated to pre-YNAB debt for January. The YNAB method to calculate my payment says to take the balance and subtract the pre-YNAB debt balance, aka the amount I can't afford to pay: $4088-2344=$1744. This is way too low and obviously doesn't include the purchases (which have been budgeted for) that will be made for the rest of January. What am I doing wrong here?
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Jan 18, 2015 23:44
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ilkhan posted:Paying for your new purchases doesnt avoid paying interest. The interest gets recorded like any other purchase. The amount you send should be purchases for the month plus interest for the month plus whatever your budgeted pay down amount is.
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Jan 19, 2015 00:00
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Interest rate is 7.24%. Here's what December's statement looked like: Previous balance: $8065 Payments/credits: $(6970) Purchases: $4147 Interest: $14.57 New balance: $6256 ... and that statement showed $2653 as being the portion at 0%, so since the current statement shows that as $2570 it appears as though I did cover all of my purchases. So I'm guessing that there's no grace period as ilkhan said. This may cause me to shift my YNAB strategy a bit. I guess I could start putting everything on another card that I'd pay in full, and just pay my $750/mo towards the $2570.
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Jan 19, 2015 14:19
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Crack posted:Is YNAB right for me?
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May 20, 2015 01:03
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IllegallySober posted:I had a $1000 emergency fund separate from any bank account that I had not accounted for anywhere in YNAB because I didn't want to think about or see that money- I wanted to pretend as if it didn't exist. However, last week, my car broke down and I had to use $500 of that money to repair the car. How do I now account for this transaction in YNAB? And how do I then go about replenishing that emergency fund in YNAB? Do I create a new category and then hide it when I've replenished it or something? Please talk me through this like I am a small child. quote:Second question- is there somewhere I can go to run detailed reports for all transactions categorized under a certain category? I have one category where I'm paying a bill and receiving portions of this bill back from friends on a monthly basis and I'm pretty sure I screwed something up because the category is showing I have far more money available to spend than I believe I actually have and now I'm trying to reconcile that. Reports > By Payee > select your payees and run report > click on the graph (pie chart thing) for a list of transactions
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Nov 10, 2015 12:51
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you ate my cat posted:Currently, the Budgeted column shows $150 for January, Activity is $0, and Available is $150. My To Be Budgeted is in the negative at the moment since I'm waiting for another paycheck to cover fixed expenses. I should add that I haven't looked into how nYNAB handles the concept of goals (although I have a general idea of the concept), but shouldn't you fund your fixed expenses before funding those goals?
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Jan 10, 2016 19:54
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You are of course free to use the tool as you see fit, but the YNAB way is to assign money that you already have based on priorities. "What do I most need these dollars to do before I get paid again?"you ate my cat posted:I'm not saying that I am saving before fixed expenses are covered quote:Unfunding most of my savings goals would put me back in the black, but I'd just have to go back in on Friday and re-fund them when my direct deposit hits. The wife and I get paid twice monthly (15th and last day of the month). Before we were on Rule 4 we'd get our December 31st paychecks, classify them as income for January, and I'd fund the mortgage category, any fixed expenses that are due in the first half of the month, I'd partially fund stuff like groceries, fuel, etc., and ignore or partially fund stuff like Christmas savings. When we'd receive our January 15 paychecks they're also classified as income for January, and that would be used to fund the car payment, the rest of groceries and fuel, and our savings categories.
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Jan 10, 2016 22:55
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Grumpwagon posted:How do people handle medium sized intermittent purchases? My fiancee is thinking about buying a new phone. We don't buy them that often, and not in a predictable pattern (she's at 3 years since her last new one, I'm almost at 2 1/2). Normally I'd set aside some money every month, but I think if I had the money saved to buy a new phone at 2 years, I'd buy one. Whereas if I don't set aside money, there's always the chance it breaks or something. Sounds like the pattern is predictable enough to throw $x per month into a category so you have enough money to buy new cell phones around the 3 year mark. Personally, I have been putting back $50/mo towards "Electronics" to cover cell phones, TVs, computers, etc. I don't mind grouping non-essential stuff like that into a category, whereas I have different categories for home maintenance and car maintenance, rather than just having a huge "emergency fund."
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Mar 1, 2016 13:10
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Yeah, I do that with my retirement accounts, which are off budget. At the beginning of each month when I allocate my budget I go to each retirement account and hit reconcile, enter the account's current balance, then "finish," and allow YNAB to create the adjustment transaction.
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Apr 17, 2016 14:17
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Slimy Hog posted:When I was first starting out I found it super helpful to look at other people's categories, so I'll share mine here: Agreed; having good categorization is pretty critical to making YNAB work as a system. This is ours (a couple of DINKs). I've been using YNAB 5 years or so. Housing - mortgage - homeowners insurance - property taxes - maintenance - interior improvement - exterior improvement Utilities - phone - internet - elec/water/san - natural gas Food/Drink/Household - groceries - cleaning and non-food grocery (basically non-food stuff that we buy at the grocery store) - restaurants - alcohol - household goods - seasonal (decorations, Halloween costumes, etc.) Transportation - car maintenance - car insurance - car registration - fuel - fares/tolls/rentals - bicycle - car replacement Entertainment - netflix - spotify Health - medical/dental - Rx / meds - gym - hair/cosmetics/hygiene - massage/PT - running Personal - clothing, me - clothing, wife - spending, me - spending, wife - dues/subscriptions - personal articles insurance Pets - food, treats - vet/meds - toys, etc. Savings - Roth, me - Roth, wife - electronics (includes cell phone replacement) - vacation - savings goal #1 Giving - christmas - bday/anniversary - gifts, other - charitable We've bought a lot of big-ticket items this year and depleted a lot of those accounts that were built-up. I feel like I'm "broke" and then I look at how much money we actually have in our checking accounts in addition to being able to meet our savings goals. Then I think about where we were before YNAB and I realize that we're doing okay.
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Oct 4, 2019 16:18
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Dancing Peasant posted:I got it fixed. Uninstalling/reinstalling/resyncing worked. And even though I mentioned the YNAB4 app was no longer in the App Store, it’s still shows up as Purchased on my account and can be downloaded. My YNAB4 hasn't synced in forever and having just upgraded to IOS 14.2 the app wouldn't open, as you described. I deleted it (and my data), but how can I reinstall since it's not in the app store? I found my purchase history and the YNAB4 "purchase" way back in 2014 but could not find a way to install. Am I overlooking it, or am I screwed?
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Nov 10, 2020 23:18
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| # ¿ May 22, 2024 03:30 |
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Dancing Peasant posted:I don’t want to say it’s the latter but if you don’t see the download button as shown circled below in your purchase history then that might be the case. Thanks, I figured it out when I saw your screenshot. I had been looking at the purchase history under Settings, rather than clicking my generic avatar in the App Store and finding apps not on the phone. 90 seconds later I was installed and synced 👍
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Nov 11, 2020 12:48
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