YNAB advice

[CrackersCheeseAndWinePlease]

I've seen YNAB recommended on here a lot. I've had a quick google on it and all the reviews seem really good so I'm toying with the idea of using it. If you use it what are the main benefits for you? Are there any negatives and will it really revolutionise my money like it says it will?

You have to use it - but yes has meant I consistently budget and wouldn’t be without it now. There is a bit of a learning curve so allow for that.

I used the free trial when I was starting budgeting and it was pretty eye opening for me where I was spending my money. It was the recording every expense and categorising it as I spent the money that was useful. You could do the same on a spreadsheet, but it's the ease of just doing it on your phone as you stand in a queue.

I realised at the end of the month that treat spending and top up shops were a major issue for me. That quick cookie or packet of nuts when bored at work, a pastry for the train, a discounted nail varnish, a couple of new tops on sale etc, a couple of glasses of wine a couple times a week to catch up with friends. Or £15 here and there on top up shops on the way home. Because it categorises it for you and you can see in a pie chart what your expenses are, it's really clear the impact it has. You also have to input tv subscriptions, car expenses etc- I got rid of Sky straight away and just use Netflix and Prime. The catching up with friends was important to me, but I didn't even remember a fraction of the treat stuff at the end of the month. So it just helped me with prioritising also

I have been using it for a while. I like it. It's more a different way of thinking about money and budgeting. There's lots of stuff you can read online about how it works. It can be confusing initially to set up your first budget but there are some great videos on YouTube.

Thank you. I'll spend this morning having a read about it. I'd really like to get my money in order though

It's honestly hugely life-changing. An example from this month is that although our bank balance is looking ok, my available balance is down into under £100 pounds. I was a bit shocked because I never let it go that low. I couldn't really understand it. A quick look in YNAB and I was reminded that we had a big car repair bill and a new set of tyres over the last few weeks. But because I use YNAB, I've been saving towards next year's fixed annual bills, and I've been squirrelling away a buffer fund for our electricity/gas cost increases, so we actually have an extra £400 we can draw on temporarily, until we are on a better footing. Also, it meant that I was able to make a conscious effort to be even more frugal over the next couple of weeks, rather than getting to the point of having no money left. We don't have an overdraft, credit cards, etc. (Well, we have a couple of credit cards in case of emergency, but don't use them).

We have a thread going at the moment called the YNAB appreciation society - so keep in mind it will be a very positive view of YNAB! To me the annual fee is absolutely worth it, you can pay for it monthly so you could give it say 3 months to see if you feel it is making a difference.

I've been using it since January, so had a free month and then paid for a year in February.

I saved the whole years fees in a month by thinking and planning before spending.

3 months in and I'm on track for all bills, annual events and a small holiday.

I also use ynab, anyone here that pays annually will have a referal link which will get you free time with the app but also give the referee a free month of ynab too, pm any of us if you would like that.

I used to use a spreadsheet it was called the Road to being debt free, I didn't get debt free that way but I did by using YNAB and by shedding my ex husband from my life, now any spends from my bank account are mine and mine only!

I've been using YNAB seriously for over a year now and I really wish I'd started earlier. I've frittered away SO much money in my life. I used to spend based on my bank balance not on what I actually had to pay out.

It takes a bit of effort though to get it up and running properly for you though. But now I actually kind of enjoy going through my budget. Not something I ever thought I'd say.

I'd strongly recommend watching the YouTube videos linked in this thread => YNAB Support Thread and the previous thread it refers too.

I watched them and then paused at each new stage and updated my budget set up in real time. That really helped - as I'd had a subscription before but ended up cancelling as I didn't use it.

So worth it though. Easily saved the subscription fees in the first month!

I've been using it for 5 years now, although I'm not perfect with my money and still sometimes spend on my cc when I have no budget allocated (concert tickets being my Kryptonite, as they are limited and often announced at late notice). However, I log in virtually every day and log all my transactions. I found the YNAB website and newsletter with videos etc useful when starting out and also follow Jesse Mecham's YNAB podcast. The principles are really simple, starting with Give every dollar a job. Basically when you get paid you should think about everything you need to cover before you get paid again. This has also helped me set priorities.

At various times in the last 5 y I have funded substantial home renovations, uni costs for dc, a new car and a couple of really nice holidays which I don't think I would have been able to achieve without proper budgeting, as I was just frittering in accordance with my wants, rather than my needs.

For the 20y prior I had written down a monthly budget in terms of income and expenditure but always failed to account for what YNAB calls True Expenses, like haircuts or dentists, vets costs or replacement appliances. Thus the money ran out before the end of the month or I ended up in the cycle of paying on my card and carrying the Cc debt as another bill whenever something "unexpected" cropped up.

Honestly life changing and I would never go back.