Anyone interested in a YNAB chat/support thread?

[OrangeBlossomsinthesun]

Hi,

I wondered if anyone was interested in a YNAb thread to chat about progress and help each other. I've just started the trial period a couple of weeks ago and, although it's quite a steep learning curve I'm really impressed with it.
I'm freelance so it's important for me to track money and be prepared for fallow periods. I had a thread here with some great advice. I'll add it as there are some good links www.mumsnet.com/Talk/legal_money_matters/4327812-YNAB-help-for-a-freelancer?watched=1&msgid=110514876#110514876

Anyone up for some YNAB chat/support?

I used auto assign initially as it seemed the easiest thing to do. Now I have got into the habit of assigning money to each category manually each time I have income coming in which does make me much more aware of my priorities.

I also only use the app, and I’d like to know if there is much more you can do from the website?

Well I think you can only reconcile on the website? You can lock transactions as cleared in the app but not remove them?

I have never auto assigned, what's it for? But then neither of us earns exactly the same each month. Mine is totally variable and even DH's varies slightly as he earns a little bit of commission most months.
Is it used more when you know what's coming in when?

docs.youneedabudget.com/article/1731-auto-assign-on-mobile

docs.youneedabudget.com/article/125-auto-assign

I have used quick budget (same as auto assign) on specific categories by clicking the underfunded button rather than typing in exactly 121.34 or however much something is supposed to cost.

You used to be able to just click underfunded on the whole budget, and it would fill in any category that had a goal or upcoming transaction(s). But if you didn't have enough money in TBA it would put you into negative. People kept saying "If only there was an option that would start at the top and fill up your categories until TBA ran out and then stop!"

So that's what they made it do. Except it doesn't go from top to bottom, it funds in order of priority, first it will cover any overspending. Then start with the most-urgent expected payment or goal (since you can set goals with a specific date in the month now).

Personally it happens too fast and I can't tell what it's doing so I don't like it.

Website has reports which are fun to play with. Even better if you install toolkit for YNAB (chrome extension).

Reconciling easier on web. Setting up goals easier on web. Searching for transactions etc.

Setting up goals easier on web. Searching for transactions etc. Yes!

Actually I have used the underfunded button once.

Thanks. I may have a look on the website when I next have the laptop out.

I find auto assign ok, but I have organised my expenses in date order so that is the way that auto assign goes through them anyway. I still prefer manually/mindfully assigning money as otherwise its like my money has disappeared and I’m not sure where it went.

My age of money is down to 7 days, but my net worth is up so at the moment its all good.

I'm down to 5 days, after getting up to 24 at the end of last month. My net worth is negative hahahaha.
But, slowly slowly catchy monkey...or something.

Love that meme, that was me this month and still short until I get another invoice in.

My age of money is 5 days. Net worth is still negative but less negative than it was at the beginning of last month

I don't like auto assign

@Justanotherquestioner
Less negative is always good!

Can you see previous net worth? I can't remember what mine was last month, just that it was negative too.

Look at the reports if you haven't already! I like the Spending trends one. And if you have multiple income sources the income vs expense one is good. Net worth is great as you can choose to include or exclude debts :o

Yup, my net worth is -60k but that includes my mortgage and I like to see it heading in the right direction. When the mortgage is gone I feel we will have total financial freedom

Age of money 182 days!

My energy bill recently jumped a whopping 86%, and I had at least part of this in the Energy category to cushion the increase, and moved the rest painlessly from other categories that were in balance.

Speaking of cushions, I have an easy access savings fund for appliance breakdowns, unexpected big expenses. Every time my dh goes on ynab, (not as often as me) he thinks I have several thousand pounds to spend on cushions. I wish...

OK actually, having had a play, auto assign with the preview on mobile is much more helpful/informative than I thought it would be!

But it's still not really working correctly for me because it wants to fill up my entire grocery shopping budget and I'm doing that weekly at the moment in the hope that we'll get more money before the next one D:

Yes, my DH's attitude to money is a bit more devil may care. He got a bonus recently and was totally confused at my suggestion that we save a portion of it towards future expenses To him it was just extra/free money and so he should spend it how he liked. The problem is - this is how we get into a situation where we have no spare money, and when he gets a bonus or tax refund or something and then it immediately has to go on some emergency he gets all depressed. But if we saved for that emergency beforehand, it wouldn't need to be that way? I am all for splitting windfalls 50/50 save and spend (or even 80/20 in favour of saving). Maybe I'll try to explain this before the next one we get.

Ok, i’ve managed to set up two budgets, learn how to use CCs the way I use them, and even added a few transactions. I will stay away from the auto assign button but now I know how to undo what it does, so that’s ok too.

Still to learn: reconciliation, and check out the web version with all the bells and whistles.

I was somewhat shocked by what I learned about our finances when I made a budget. We get what I consider a lot of money every month but somehow it’s all gone and I always say “well this was an unusual month things will be better next month”. I hope this tool can help. We’ll see how things look in a few months…

Oh yes for sure! I like that perspective from YNAB; there is no such thing as a "normal" month.

Anyone find themselves reading threads on here and wanting to reply "you need a budget"?

Like several others I also don't use auto-assign and I'm not interested in importing transactions - it seems like that would take all the fun out of it . I also don't use the mobile app.

Now October is here I'm in my third full month of YNAB (started mid-July). I've decided to fund a few of my categories differently and moved away from spending targets towards savings balances for variable expenses like food and petrol. They are filled up with the absolute maximum I would spend in a month (with the aim being to spend less than this) and then at the end of the month I will top them back up.

I've also started using a 'Next month' category rather than assigning money into next month now. Lots of other people who are a month ahead seem to do this. So any income for October will go into the next month category for now and then at the end of the month I will move forward into November and assign everything in one go.

I was somewhat shocked by what I learned about our finances when I made a budget. Oh yes! I think that's pretty true for everyone!

I've also started using a 'Next month' category rather than assigning money into next month now. Lots of other people who are a month ahead seem to do this. So any income for October will go into the next month category for now and then at the end of the month I will move forward into November and assign everything in one go.

Are you a month ahead? I am still at the struggling to cover what I absolutely have to pay right this minute (some of which are long term expenses, like rates and car tax) so I am still a way off being ahead.

Yes I am a month ahead. I posted upthread about having no debt so I'm using YNAB to have a really tight handle on my expenses to maximise savings/investments.

Not strictly YNAB related, but if anyone has their Broadband contract coming for renewal, I got a stonking deal with NOWTV (Sky).

I was paying them £43 per month for 64mbps broadband and anytime calls. They sent an offer for the same package for £30. I phoned up and the man said 'I can go better than that...£22 per month.' I said 'Oh that's great - it's a pity I've just paid this months bill!' Then he said 'Oh, don't worry, I'll credit your account by the difference, and by the way, you won't have a bill at all in November.' So I've gone from paying £43 per month to paying £22 for October, £0 for November, £2.14 for December, then £22 from then on!

Back to YNAB, I do think it helps to see it all written down and then it makes you try to cut things! I'm going to try to menu plan, I think, to bring grocery costs down. There's no point in trying to save money on Gas/Electric, but if I can cut other stuff, it might take a bit of the sting out of the bill jumping from £106 to £233 over the last few months!

I'm 3 weeks in and just subscribed.

Have to admit to being a little obsessive but have now done my first paycheck and it's all good.

DP is rolling his eyes as he's an ostrich about money but all good so far. I'm planning to win him round.

Hi @Kerberos it can get a little obsessive but in a good way I think!

Are you doing the budget with both your and your DP’s input? I’m just doing it with my own finances at the moment, but I can see it would be great if both of us were on board together. Not sure he’d want to though!