You have hands down, the best YNAB tutorials. I don't actually use YNAB, but I still love watching your videos about it. I will eventually have to try it out thanks to you!
haha, thanks Rachael! I super appreciate that. Yes, you should definitely try it out one of these days! :) Appreciate you taking the time to watch as always!
Your videos are super helpful for me just getting started with YNAB Thank You so much! I must be a slow learner or a slow listener because I have to slow you down to 75% speed to sound normal to me LOL! I just can’t keep up. I'm 63 and I'll admit I don’t learn as fast as I used to; so youngins probably hear you fine 👍😄
haha, well I'm glad you're finding them helpful even if they are fast! It's definitely nice that RU-vid lets you slow stuff down or speed stuff up. I admit, I can talk fast. Appreciate you watching!
I recently cancelled my YNAB sub renewal (still have like 9 months remaining) out of frustration. And you pretty much cleared up my frustration with the video. I find it crazy that they do not have some of these basics tasks detailed in one of the many guides they have... Trust me, I have watched so many of their official ones. I think I will be moving on from this app after this year though, even with you being so helpful. I can't fathom paying for a software that kind of leaves out some of the basic info in their tutorials. It wasn't just reconciling either, there have been other issues. But it was reaching a point where I had to fudge numbers to have things reconcile and I hated that because I wouldn't have proper data... And to me that is the best part of these applications. Seeing all of your spending habits. Probably not the best app for me. But as always, thank you for helping us out!
I get it, man! I hate to hear that, but I definitely understand. YNAB, in general, isn't for everyone and there are lots of systems that work. There are some gaps in their tutorials (which honestly, I'm selfishly grateful for :)) They have a TON of great info, but I've found that sometimes people better understand things when said from a true user perspective. So I'm glad my videos have helped, even if you don't stick with it. Ultimately, you gotta do what works for you. No hard feelings about that! Good luck, and let me know if there's ever anything I can help you with. YNAB or otherwise.
Checking this out after my 30 day trial is over. Decided to fully implement YNAB into my life and was struggling with this exact topic. YNAB should put this video in their trial customers’ 30 day email. Was so helpful! Thanks Nick. 🎉
I had an instance the other day where YNAB did import and clear a transaction that had not actually cleared yet, and it confused the hell out of me. I finally got it straightened out with the help of one of your extremely helpful support staff.
I reconcile my accounts frequently throughout the month to be sure my accounts are spot on and then I can filter those out. I am just very OCD about that and hate when my accounts ever get off. I also used the old YNAB for years and quit when they went to the new software as a service as everyone is doing about three years ago, but finally decided to go back. Like your videos and this other person's as well since I am a bit rusty and some things are new.
I watched a different video of yours about how it can take a few tries to get used to YNAB, and how it’s not intuitive for some and it really made sense and made me not feel like a slacker. I realize now that I just didn’t understand it. After quite a few videos later, and a friend that walked me through it, I “get it,” set it all up and am really excited about it. Thanks!!
Your video's are keeping me going. I am spending so much time trying to figure out how this all works. Just watched your credit card video.. I might finally get it. The next biggest hurdles is reconciling my checking account and figuring out how to get cash into my wallet and how to document the input and output. Thanks for your videos, keep them coming.
Thanks carol! So glad that the videos have been helpful for you. I really appreciate the comments. It means a ton to hear when folks get something out of it :)
Way late comment. Just wanted to leave a tip about your propane costs. I’ve been full time RV’ing for the last 5 years. If you stay at a camp ground that includes your electric in your site cost, pick up a $40 electric space heater. That $40 has saved me HUNDREDS in my propane costs. Thanks for the videos.
I'm glad this is shorter because I don't have the attention span for the 50 minute videos. My problem is this goes so fast I still get lost. I'm about to start month 3 and have screwed my budget up so much.
So much great info in all your YNAB tutorials. This is the reason that I am able to actually stick with YNAB and I feel that I've got the hang of it now, after using it for around two months.
OMG, thank you for this video; it clarified a lot of my confusion in this area. I hadn't realized it but I actually use a combination of the Tracking and lazy method. I move money off Budget to the Tracking accounts for long term saving goals, where I don't want to touch the money. And I use the on Budget lazy method for shorter-term quality of life saving goals. I just recently migrated from YNAB 4 to the online version of YNAB and your videos have been super helpful in making the transition. I don't know why YNAB can't offer training videos like the ones that you have. They should honestly just provide a link to your videos on their website. I have not found their blogposts or their 20 minute online education videos to be as helpful as your videos. Thanks and keep up the great work!
Thanks so much Mimi! I’m super glad to hear that it was helpful for you. Thanks so much for taking the time to comment and let me know. That means a ton. Good luck YNABing!
I agree, I don’t get a fraction of the education from YNAB’s sponsored videos as I do from this channel!! So glad I found this! I am a Financial Peace University “grad”, so even though I’m super accustomed to zero dollar budgets this app still has a steep learning curve
Love it. I actually do roll over giving for certain categories because I am planning a big graduation gift for my PT cohort (in about a year) so I want to build it up! So it's not always a bad thing haha. My biggest problem is deciding what to roll and what to zero into each month. I actually put a /z or /r next to the category name to help me quickly get through it, but still hard call sometimes
ahhhh, that makes sense! Also, I love that you put a /z or /r to remind you whether or not to roll over. That's super smart. Love that. I may have to do that myself :)
Loving your videos! And, this might sound strange, but I saw your ESSO Club transaction... You're in my old stomping grounds - grew up in Seneca. :) Go Tigers!
haha, that's awesome!! We were there visiting some friends of ours. It was our first time, and the food was fantastic :) Cool that it's a small little world. Thanks for watching Kellie!
Glad I found your channel, I am all about the chill no frill video to learn things, good thing that I can slow down playback speed! Talk as fast as you want, I have 4 slower speeds levels to choose from. So far, .75 and I can actually process your explanations. And I pretend this is a college class and I sit like I am in a lecture hall with pencil and note pad and I take notes! Your info is golden!
Great topic as always! For my personal end-of-month checklist I also do these: downloaded any documents (pay stubs, EOB's, bank/investment statements, etc.), create a monthly income vs expense report (balance sheet) from the YNAB Toolkit, post my referral code in social media.
Love this Trevor! That's a great monthly routine. Glad you're utilizing the Toolkit for YNAB as well. It's awesome and adds a lot of great features. Thanks for watching!
Loved the video. Would like to see a video on credit cards, with slower examples. I also would like to see a follow along tutorial....like play in the sand box with me. Great job.
A little late to the party but I really appreciate these videos, they helped me get started quickly and easily with YNAB. It's a confusing program, for sure, but considering that my income is highly variable (I bartend) I'm more than happy with YNAB's approach to budgeting. Thanks again!
Thank you for helping me set up my YNAB budget. I have tried EveryDollar and Mint. In the short 21 days I have used YNAB, I'm sold! Their emails were helpful, but not nearly as helpful as your videos. I'll be subscribing to your videos. I kinda agree with what you have to say about being FREE versus getting to FIRE, BTW. Thanks again!
Frothy Monkey is awesome! Great video, I've been getting a lot out of your YNAB vids, and helped me get started in it and budgeting in general. Thanks mate!
Thank you for this overview, Nick. I just made my own version of your checklist in my to-do app so it includes little notes for myself specific to my needs and how I'm budgeting. Just finished my first month in YNAB and am planning for my second - woot! Thanks for all your incredible templates and guidance.
Wow Nick! This video was incredibly helpful! I love that you use real world examples and also provide the mindset behind every step. Explaining the mindset was particularly beneficial. Having a 'non-Christmas Gifts' budget - Brilliant! Soon as I saw it I added it to my budget. Out of all of the YNAB videos I have watched this has been thee best! Can't wait to see your other videos! Appreciate you taking the time and effort to produce and post them. Absolutely flawless production of a tutorial! Excellent work! A+ Thank you!
Hey thanks! So so glad it was helpful for you. I really appreciate you taking the time to comment. That means a ton! Reach out if there's ever anything I can do to help, Nick
I am super new to YNAB & have created a GIFTS group with categories for each person I buy a gift for and a target amount for their gift with the date of the first day of their birth month (or Dec 1 for their Christmas gift). I love knowing that each person's gift money is set aside and it's literally a few dollars a week to build up a nice little sum!
thank you for this!! I was about to give up on this but you finally explained how the credit cards work, and it makes so much sense now!!! Can't wait to get serious with this!!
I recently found YNAB, and was really interested in the concept - for the first time budgeting wasn't just a chore, it made sense! But SEEING it done is so helpful, and I've found all of your tutorials to be just what I needed. Thank you so much for sharing - you've made it possible for us to go from a concept to reality, and a budget that actually works to fund our life. I appreciate your time and the sharing of your ideas and advice!
Awesome Carolyn!! So glad to hear that these videos have been what you needed. Thanks so much for taking the time to comment and let me know! Good luck YNABing!
Thank you SO MUCH for explaining things so well and making YNAB less scary and more approachable! Do you have a video on how to reconcile when things don’t add up?
This was soooo helpful. Than you for making this. I am doing my first end of the month in YNAB today. I have two questions.... 1) What if you missed doing this on the last day of the month? Can you go back on the first of the next month and do this? 2) How did you end up with such a large balance to be budged starting April? Thanks Nick :)
Hey Katelin! Glad it was helpful for you :) 1) Yes, you can absolutely go back and do this for previous months, although you don't HAVE to because YNAB self-corrects. But I think it's a good practice for learning. 2) This is a fake budget in this video, so all the numbers are fake. It's not my real accounts :) I had a fake transaction in my checking account for this example of a paycheck hitting on April 1st.
Hi Nick, newbie question: Why do you have "To Be Budgeted" while I have "Ready to Assign" category? It's a matter of versions of YNAB (meaning that I'm here in 2022)? Thanks for everything.
Thank you for answering some of the little questions which always bothered me about YNAB...... Do you know why one the last day of the month it automatically moves unbudgeted funds to the next month? That always throws me off. Surely if should do that once the new month has started.
Thanks y'all for watching! :) Download all of my YNAB checklists here: mappedoutmoney.com/ynab-checklist/ Quick Jump Sections 0:40 Step 1: Reconcile your accounts 4:19 Step 2: Deal with overspending 8:32 Step 3: What to do with leftover money 12:16 Step 4: Budget as far as you can into next month
YNAB is still new to me and this is what trips me up. My partner and I bring in roughly $3800 a month and we actually get paid the same two week cycle, so I am budgeting bi-weekly. We always have money leftover in the “to be budgeted” but I worry about giving all my money a job because what if I do need something? I always like to have a buffer in my checking accounts and wouldn’t want to continuously pull from savings if I need to because my savings have a withdrawal limit. So, you’re suggesting that say if I have $300 left on my first paycheck, budget that to the future transactions (like cable and electric which come out the end of the month) just to get to zero. Then if I realize I needed to spend $50 extra, I can take that from the electric and when I get paid again, replace the $50 from my next paycheck. Then, if I have $500 leftover from budgeting, I can put some towards savings and the rest to next month’s bills? That makes me feel a lot better about “getting to zero” because that was making me really nervous. Also question 2: when it comes to leftovers wanting to accumulate, do you just leave it in there on the budget and it rolls over into the next month automatically?
Question 1: Yes, that's right. It's budgeting down to $0, but for things you know you're going to need in the future. It's not saying woohoo! $300 extra for eating out or whatever. Budget it to Cable, or other bills, and if you need it for something, you can pull it. Eventually, you'll be budgeting into the next month and trying to get a full month ahead :) Alternatively, what I teach a lot of folks to do is to literally have a buffer if that makes them feel better. Create a single category group and single category called "Just Sit There Buffer." And then budget like $500 there. Then don't touch it unless you really really need it, and if you do touch it, then replace it soon. The idea is that if you say "I don't like to give every dollar a job because I want a $500 buffer" well that is a job. The job is "Just Sit There" so let's make that. Hopefully that makes sense :) I'm a big fan of this. Question 2: Yes, if you just leave it there in the available category it will roll over next month automatically. Hope that helps!
Nick True - MappedOutMoney you’re the best. Thank you so incredibly much. I feel so excited for your class! We went to pay off all our debt and start saving to build our dream home within 10 years, so I think your guidance will be a big part of that!
Great...though I’m doing this all on my iPad. My computer bit the dust with Windows 10 and so far YNAB is the only thing I miss. Whoops...gotta stop my software subscriptions. Thanks.
Fantastic videos, Nick. Thank you so much for sharing all your knowledge and experiences using YNAB. Switched last month from Quicken after using it for about a decade. Have used your videos (some of them multiple times) to help with the transition. Very well laid out, clear, and easy to understand! Greatly appreciated.
Hey thanks for the idea! I'll add that to my list. In the meantime, YNAB has some great articles on their website that talk about the quick budget options. I've found "underfunded" to be the most helpful.
Jackie - I think you always want income transactions to go to "To Be Budgeted" only. Then you just budget to each spending category from there. I may be misunderstanding your question?
I have just started YNAB, and don't think I could have done it without your videos. Thank you! I have always budgeted using pen and paper so I really like having an app as well as computer access. I also have used Quicken for years. I am seeing that I may not need Quicken anymore. I am doing the same thing to both sites. Thoughts?
haha, glad you found it helpful! And lol, I actually have a video that shows when I got that credit limit increase! I just called discover and asked :) ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Y76J2YAZ7mc.html
Love this - I'm all set for the end of the month, but I do have a problem/question: Can you share a link to a video that explains the right way for beginners to handle taking money back from a future month to cover something that ended up being underfunded in a current month, or help me find a strategy to prevent me from getting more confused about how ToBeBudgeted is calculated in that situation? You are the only YNAB instructor that says stuff in a way that makes sense and presents concepts quickly and efficiently so I don't lose focus or get anxious about money while I'm trying to learn. Thank you. More details in case you don't understand what I'm talking about: This is my first month (may). Thanks to your getting started videos I felt like a YNAB rookie champ, and had a budget all set up for my payday on May 17th. I paid all the rest of May's bills with 50% of that weekly paycheck (hooray) then feeling super-cool, I allocated all the extra funds toward June fixed expenses. I even decided to use some extra extra money to cover one really important bill coming up in July. Then a big bill I thought would clear my account June first cleared on May 27th. At first I thought that would be no big deal. Feeling confident, I edited my June line item and savings goal to reflect that the money will actually needed by the 27th of the month so this never happens again going forward. Then I thought all I had to do was move the June First money toToBeBudgeted and update a related May line item that I didn't fund at first because the bill had already been paid. To my horror, May's ToBeBudgeted did not update to reflect this money and the June "to be budgeted" total immediately turned red by the amount I had moved. The only thing that took away the red was something that made me sad, I had to move all the money out of many other funded categories that were all set to go back into To Be Budgeted until it displayed zero and turned green again. Today it's payday again and it's the end of the month so I checked out this video, and I still felt relatively confident - plenty of money to cover fixed expenses coming up in the first week of June, all the checking account transactions are manually recorded (I'm not ready to connect my checking account directly - I want to do this manually for a few paychecks first) my checking account balance is a perfect match, I don't use credit cards, so I have no additional reconciliation to do. A couple of budget line items for May still have a few bucks in them in case I need groceries or cleaning supplies or something this weekend, and if there's any money left I'm fine with a rollover. But when I go to the June budget to keep using my paycheck to funding next month's bills, YNAB doesn't show this to-be-rolled-over money as positive funds that will eventually get rolled over, it shows negative numbers in the budgeted column, and that messes up how much I need to budget for each category with tonight's paycheck. Plus, as I started to cover more June fixed expenses I impulsively decided it would be better to move the few hundred dollars I set aside for July back into June to put toward a truly massive bill coming up on the 8th. I moved the July funds back into To Be Budgeted, and again, these funds didn't show up in the June ToBeBudgeted. But, July *added* the leftover June To Be Budgeted amount (4.20) to itself! I honestly don't know what to do next or why this is happening. I mean, I have obviously learned the lesson after having to do this twice in a week Not To put money into future months unless I don't think I will need it back. But why is it happening, is that even realistic, or am I misunderstanding some important concept or technique I need to know?
Hi Nick - love your videos! This is my first month using YNAB and so far I really like it - but what do I do if I can’t reconcile my account at the end of the month because some transactions have not yet cleared? Thanks!
Hey Michelle! Thanks so much, just wanted to let you know I just released a video about reconciling, so it may be helpful for you: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-scCFWu8-RmI.html Happy YNABing!
Your videos really help, thanks Nick. When do you this? The last for the month or the first day of the next month? I assume in this example you are already in April as you have registered income there.
Good question! You could do it either one, but I typically do it on the 1st day of each month since at that point I know for a fact that I'm done spending. If you do it like on the 31st but then order something on amazon later that night, you'll just need to double-check things. As long as you're done spending money for the month, you're good. Either way, it's not a big deal, but I just personally tend to wait until the 1st. Hope that helps!
love your videos. they help me a lot. how many times do you go on YNAB? should I go on YNAB every week or a couple times a month? I was using mint before so I have that habit of checking my finances every week.
Nick, your videos are extremely helpful and have sold me on YNAB! THANK YOU! I am already on my free month trial but would like to use your link to subscribe. Is it possible to do so or am I too late?
Hey thanks! I appreciate that. I don't think there's a way to do it officially, but I know some folks have had success emailing YNAB support about that. But seriously, don't feel like you need to. I'm just pumped that you're budgeting my friend!
Thanks for the informative YNAB tutorial! Watching is helping me set up YNAB to work for me. Do you recommend putting funds for budgeting in a separate savings to avoid thinking there's money available when it has actually been earmarked for future spending? For instance, is your Christmas $ sitting in your checking for the year, but not spent til Dec? I'd love ideas on where to store aging money so it doesn't get dipped into, especially considering joint accounts. Thank you!
Hey Kelly! If you end the month in red on any categories, YNAB will automatically take it from TBB during the next month. So YNAB self corrects as you make money, but it definitely adds a lot of confusion and messes people up. Which is why you want to avoid it if possible.
Nick, thank you for your YNAB videos! They helped me greatly! Question for you - My mortgage payment is due on the 1st of the month, but I usually try to pay it at least few days in advance, but that puts my payments in a previous month. What would you recommend I do? I thought of shifting the payments to the 27th of a previous month and just "pretend" that is my new due date, but I don't really like doing this for reporting reasons. If you have any suggestions, I would really appreciate your help!
Hey! LOVE your series. Quick question regarding reconciling. I followed your video on "reimbursements" where I have my roommate paying for a couple things where I cover most of the expenses. So I have a couple transactions posted to my checking account where they obviously weren't real so they aren't cleared. How do I reconcile these? Should I have posted the inflows to a different account?
Looking forward to that reconciling video! What do you do with categories for subscriptions that you have cancelled? When I try to delete, it asks me to move the funds.
haha, me too! I either right click and select "hide" or I create a category group called "Categories I No Longer Care About" and I drag it down there. I like to do that because then the category will still show up the way I want in the reports. Hiding works to though and that's what most people do. Either way is great!
This all seems confusing for someone in complete debt with credit cards and monthly expenses. We never have enough and we use Peter to pay Paul by the end of the month.
Excellent tutorial! I was really worried about leaving that category in yellow to cover the overspending, good to know it’s ok to leave like that. However, how do you do with the Apple transactions where the purchase is posted around 15 or 20 days after the real purchased date. Sometimes I even forget I bought an app, and then the notification comes up. Should I leave in YNAB the date of purchased of the date that shows in the bank? (20 days later)
Yup, totally okay! And gosh, Apple is so annoying with that haha. Typically what I do is go ahead and manually enter the transaction right when I purchase it. Even if you sync your accounts and let YNAB pull things in, if you're buying something from Apple, I encourage you to go ahead and manually enter the transaction. Then when YNAB pulls it in, you can actually "clear" it during your reconciling. I personally leave the date of purchase in YNAB unless I have a good reason for moving it (like it was an expensive app and you need the purchase to show THIS month vs. LAST month or something like that). But honestly, either way is fine. Hope that helps!
Hi Nick! Continuing to find your assistance super-helpful, thank you! A question: Do you ever use the "Quick Budget" features when going from month to month in YNAB? I got their newsletter, and that was one of the options talked about: The Underfunded Category; the Budgeted Last Month Category; the Spent Last Month Category; and the Average Budgeted and Average Spent categories...I'm guessing that if I tried it and didn't like it, I could un-do it...but am wondering if you've tried it, and if you like any parts of it? (BIG apologies if I just missed that video!) Thanks again for any feedback you can provide - if you DO use it and don't have a video would love to see one at some point on the pros and cons...all the best! Carolyn & Don
Hey Carolyn! I use the underfunded category ALL the time. I use it to quickly fund my goals that I've setup. I don't really use all the other features because I don't really care that much about what I did last month, instead I try to focus on funding the category goals that I've setup. You may have tried it by now, if so what did you think?
@@mappedoutmoney Thanks for your feedback! I did try it...but honestly, wasn't sure which option to go with, and ended up using "budgeted last month". It was nice to have all of the budget filled in...but - DUH! - the budgeted last month idea wasn't a great option, especially for a beginner, Looking back now, if I made a mistake in my first month, it was just carried over into June! Underfunded is a much better option...I'll use that for July so it will not only auto-fill the budget...but will also give me important info. Thanks for the feedback, very helpful!!!
@@carolynmadvig4705 Awesome! So glad to hear that it helped :) You can also select one or multiple categories at a time and then hit underfunded to only fill those. Which is a really really nice option :)
Nick True - MappedOutMoney I didn’t know that! Thanks, will try it when setting up August...thanks so much for the tip - YNAB’s looking better & better!
Could you did this process every time you get paid? I get paid twice a month (1st and 15th) so I was just trying to find the best way to manage my budget. Thanks!
Hi Nick Love your presentation style. Do you enter your transactions daily, weekly of monthly, I'm still not decided if YNAB is for me as basically I'm a lazy person and the thought of spending hours in front of my PC at the end of each month just entering receipts is worrying!
Hi Nick! Thanks for these videos. They are really, really helpful. One quick question, how do you handle bills that you used to pay on a regular basis but now no longer do? Do you delete the bill in your next month's budget, or will that "erase" all that history from the previous month(s)? Or you just hide that bill? Do you ever get to a point where you have to clean up your budget by getting rid of those past bills? I hope this makes sense. Any input on this topic is appreciated!
Hey Shannon! Do you mean transactions or categories? If you mean future scheduled transactions (in the account screen) I delete them and stop recurring scheduled transactions. So If I used to pay for Netflix every month on the 10th, and I cancel my subscription, I will make sure I don't have any netflix transactions hitting the accounts each month going forward. Now for a category in the budget that I no longer need I do one of two things: 1. Hide them. That means, right click on the category and literally select "hide". 2. Create a category group called "Categories I No Longer Care About" and drag that netflix category down there. I like doing this better than "hiding" them because it allows them to show up better in my reports. Hope that answers your question!
Nick, your videos are fantastic!! I used many of your MoMoney videos to learn how to set up YNAB initially, to wrap my head around credit cards, how to handle savings accounts, and just about every aspect of YNAB in general. I would've given up on YNAB without them, so they've been a real lifesaver. I have a question about overspending, though, I'm hoping you will answer for me. It's the end of March, and I just noticed I overspent one category in February and I want to fix it to get rid of the red. I have all of March and 1/2 of April budgeted for so my To Be Budgeted amount is $0. When I go back to the Feb category I overspent, I know I can highlight the red amount, select Inflow: to be budgeted, and it will be pulled from my budgeted in future amount. But, how do I tell where in the future it pulled that amount from to cover the overspent category in February?
Hey Tony! Good question, in this particular case, when you go back to Feb and cover the overspending with TBB. Since you are already budgeted into April, it SHOULD pull it from April's TBB. Test it out and see if it pulls it from there. That's what I believe will happen. Either way, I would pull it from TBB and clear up Feb. Hope that helps, thanks so much for watching!
@@mappedoutmoney I had all of my TBB allocated prior to fixing it using the Inflow:to be budgeted trick you showed in your video. It's clearly pulling it from allocated moneys because it reduces my money budgeted in future total by the amount I overspent, but I can't figure out where it's pulling it from. You'd think it would be pulling it from future inflows, but it's not. I tested this by adding a $50 inflow to my checking account after covering the overspend. I figured when I added the $50, it would show the TBB amount as the number derived from $50 minus the overspent amount I covered from February. Instead, the full $50 shows up in the current and all future months as the full $50 TBB, so it's not pulling it from there. It has to be pulling it from funds I've already allocated to a line item in a category. I've also posed this question in the YNAB community and have stumped one person so far. Hoping someone, or YNAB support, will be able to help me understand where it's pulling it from.
Tony Bevers got it. My guess is that it’s pulled it from TBB but it doesn’t look that way because it’s already happened. So now when you cover it. It’s double covered. Example - overspent by -50 in a category in feb. - get paid $4000 in March - YNAB automagically pulls the overspent from last month from TBB. You should see an “overspent” to the right of TBB in March. - this means you actually only now have $3950 in TBB - but you never noticed because you had already budgeted ahead and so by the time you got to March the overspent amount got lost. - you budget the full $3950 to March - in March you get paid and start budgeting ahead to April and budget down to $0 - you finally noticed the issue and want to fix it. But at this point YNAB has already taken the negative into account and let you budget all the money you made minus the overspent in feb. - so now if you take it from TBB, nothing happens. Your TBB stays the same and that little overspent amount next to TBB goes to zero Woo! Okay. That’s all in my head without looking at YNAB. So I could be wrong. Feel free to send me an email nick@mappedoutmoney.com with screenshots if you want some more help. Thanks! And keep me posted. I’m interested to hear how this goes.
@@mappedoutmoney Thanks, man! I've reached out to YNAB support for an answer. I recorded a video of what it's doing and shared it with them. My train of thought was the same as yours, except that when I take from TBB, something does happen. It decreased my future budgeted money by that amount. Since all of that money is already allocated, it is pulling it from somewhere. I'm just not sure where. I'll let you know when/if I get an answer from YNAB support and will try to lay it all out so it makes sense. I'm sure it's hard to understand what I'm trying to explain without actually seeing it.
I have been using YNAB for over a year, but not really getting it. Your videos have showed me the right way to think about it. Thank you so much! Here's what I'm trying to do. If I have money left over for say spending money, I'd like to roll it over next month. But I also want to budget next months in addition to the rolled over amount. E.g. say I roll over $10 over spending money but I also want to add my normal $50 goal on it next time for a total of $60 next month. Is there a way to do that with one button, without manually budgeting my goal amount next month? (Other categories fall into this scenario too like you described, say Electricity or Gifts) Similarly for a budget template, I want to budget all of my goal amounts in one shot. Underfunded is pretty close to that, except for the rollover question above. Thanks!
Hey there! So the "one button" you're looking for is "underfunded" on the right hand side under the quick budget section. You can select a bunch of categories at once and then select underfunded and it will automatically budget to fund the goals for those categories. It's really slick. Hope that helps!
So my big question is... if the money is rolling over or for next month on YNAB-- where is the bank balance at? Because I look at my bank balance and and just one big balance.... am I supposed to transfer money out of my bank into an envelope at home after this? Like if your saving for a home and saving for a car-- do you keep both savings together in an account or do you pay a physical envelope each month or so you open several savings accounts and transfer the money all around? Same for 3-6 month emergency fund vs just aging your money for the next 2 months... does YNAB know what your ACTUAL account balances are? Another issue- what if we have 2 account and 2 people ? My husband being self employed has a business account. He pays some of our personal bills out of that business account including gas and groceries and other things. All the other transactions (hundreds every 1-2 weeks) are cash flow for business only related stuff. So deposits for jobs then materials ordered and what left after materials is profit which he then uses to pay overhead for business and then personal bills. So how do I deal with that? He basically lives out of that account and his income is sales so it swings high to low week to week and month to month as even season to season! Sorry for long question but it’s confusing to see how I can budget for both of us without just doing stuff on paper and guesstimating things. Basically we don’t know how much we can spend on something until after he makes a weeks worth of sales and pays out overhead and expenses for supplies for that particular job. What’s left is ours.... and that varies on each job and each sale and sales vary on how many customers call or show up wanting our services.
When you assigned some money from this month to "To Be Budgeted", it went to the next month's "To Be Budgeted". I'm doing the same but it always goes to this month's "Ready to Assign". Did YNAB change this behavior after you made this video?
Hey Shali! Normally that doesn't happen. It just happened in this video because when I was filming it, I was in the previous month compared to what it was in real life at the time of filming. This normally happens whenever you are in a you are in a previous month and move money to ready to assign. If you're in the current month, this won't happen. Hope that helps!
Nick, I just discovered your videos -- I love them! I've been using YNAB for years now (since early 2010) and I think I know the ins and outs pretty well but, nontheless, I'm picking up a bunch useful ideas and tips from your videos. One question: In this video you moved the remaining category balance for "Unexpected Expenses" in March to "To Be Budgeted". But after you did this, the "To Be Budgeted" balance did not increase (from $0.00) to the amount moved. Is this because you are now in April (the actual calendar date) and the "To Be Budgeted" amount for April (but not March) increased by this amount, even though you did the move from the March budget?
Hey Tom! Sort of. Basically, once you start budgeting any money into the future, YNAB is focused on that next month. So for example, let's say my last paycheck in March I don't really need for march, so I go ahead and budget a lot of that paycheck into April's categories to work on next month. At that point, YNAB knows I've started budgeting to the future. Essentially telling YNAB, I don't need more money for this month. (You can notice this by looking at the "budgeted in future" wording near To Be Budgeted at the top) So then, when I transfer money from a category back to To Be Budgeted after already getting ahead, YNAB puts that money into next month's TBB. I could move it to a category this month if I wanted, and YNAB would just pull it from April. But as for noticing the $0.00 going up, in this example it went up in April, not March. Sorry if that's confusing, hopefully it makes sense. Glad you're finding the videos helpful my man! Nick
@@mappedoutmoney Makes perfect sense! I don't usually budget into future months so I guess I hadn't seen this behavior (or didn't recognize it); I let excesses carry over or move them into a "buffer" category (my vacation fund) and then tap into that (if needed) when YNAB-ing away during the following month(s). Thanks for the warp-speed response.
