You Need a Budget Ynab

[Peppapissinpig]

Are face to face classes available in the UK. I have listened in to 2 webinars but am still getting confused. Feel like I need someone to sit with me to guide me through properly

Ask laska to explain on marvellous frugaleers thread or do a search of mumsnet loads of threads

I know it very well. If you post some questions I can probably answer them?

Thanks!

Welllllll, one of many many questions is where do I put my salary. I get paid at end of the month (so have already this months) but this money is needed for June's outgoings. Do I enter the salary into May or June? I have seen the 'mid,late month pay' support page but still unsure.

It doesn't matter

The actual amount should be entered when you get it. But whether you categorise it as 'Income for May' or 'Income for June' won't make any practical difference.

Income for May: It will increase your Amount to Budget (ATB) by the amount of your income. Anything you don't use between now and Monday (1st June) will roll over into June's ATB.

Income for June: Your ATB for May won't increase, but the ATB for June will, so for the next 2 days you'll see a relatively low amount in May's ATB and a higher amount in June's ATB, but in 2 days time you'll be in June anyway.

Yes I do this. I get paid on the 26th of the month, so enter as received on the 26th. But I put it down as income for the next month.

Technically this is correct anyway, as my wages on the 26th are for the 1st-31st of the month - I just get paid a few days early.

thank you - so I've entered the amount into May (paid yesterday) how is it shown against June's income? sorry to be so dim!

If your pay is £500, then on the budget screen your Available to Budget figure (at the top in green) will be £500 more than it was, and anything in May's ATB will just show in June's if it isn't budgeted in May's budget.

Thanks Lougle, getting there I think!

lougle's way works fine, although if you want to effectively 'hide' the salary from this month's budget you can give it a category when you enter it of 'Income for next month'. This automatically adds it on to the amount available in June and it doesn't show as available in May.

This is useful when you're doing 'give every dollar a job', i.e. trying to make sure you've accounted for all of this month's available money, x amount into the emergency fund, y amount on groceries. You don't have to worry about giving this money a job in May as its job is to fund June.

Keep posting here, or on the YNAB boards, and you can always raise a support ticket if you're really lost - they are very friendly and will want to help.

Peppa hi sorry have only just seen your post here (and on Frulaleers) , yes put it in 'income for June' (although it doesnt realy matter which because if you are over spent in May in any category , it gives youthe option to take it out of 'Junes' income) .

Or you can start budgeting this month's income for June's bills.

So, if you want to budget, say, £600 to spend on groceries by the end of June, enter that for May and it will carry over for June.

If you find you need to 'roll with the punches' and move money between categories next month, you can even put a minus figure in to a category in order to free up cash elsewhere.

It has taken me almost a year to get to grips with it properly, but well worth the effort - we have saved thousands!

So I've put it in May's income as had very little else to pay out for this month. I think I've set it up that it is now budgeted against June's outgoings.

Fab! It's a 'many ways to skin a cat' situation.

The key is that you get on and use it -you can move things around as you get used to it.

I agree - you will pick it up as you go along - you can't break it! I can't speak highly enough about it - it is far more than just an app.

Ok so today's dumb question

If I use money from cash account to buy things like fuel, do I record that as a transaction against cash and mark category as fuel?

Yes, that's right. Which account you use to pay for something is irrelevant to the budget - you've spent it on fuel so it needs to be deducted from your fuel budget. The way you do that is by putting it in the fuel category.

My problem is my dropbox account is full so I can't connect via my phone. And I'm not committed enough to turn on pc to update regularly

I think you'd have the same problem on your PC, lilacclery. It all gets stored in Dropbox.

Ive really got into Off budget accounts for 'cash spends, as you can transfer in and out of your main budget categorie I love em!! ( I have one fo rmy 'purse' , and transfer all cashpoint withdrawalsv into that . (recording it the from the budget account categories i need it for and keep and record all my cash recipts in my off budget account ( sad creature that I am ) !!

Why an off budget account, Laska, rather than an on budget one called Cash?

I have a main budget account for most things , but my 'cash' is my 'purse money' . I take it out of the cashpoint and record it as that , then on YNAB transfer it to the off-budget account (its usually only £20 or 30). It usually comes out of my 'groceries' tab (because i thats what its for , small spends in shops) and then i just record each cash transaction and what i spend it on in my off-budget account.. also if Dh gives me cash , that goes inthe off budget account . I then get reciepts for all i spend in cash and each night tally of whats in my purse ..

I just find it easier that way , also at the end of the month i can see what ive spent in what shops .. . Somehow it just seems to work better for me to have an understanding of where my purse money goes.. (and if im frittering it away )

But if im getting money out of the cash point specifically l for a set spend , like today for my haircut, ill record it out of that part of my budget.