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?

AOM now down to 3 days!

That sounds like a high interest rate @OrangeBlossomsinthesun but if it is the best you can get in Spain then there’s little you can do to get it down. Might be worth keeping an eye out regularly for a lower rate if you can.

AOM now 14 days here which I’m delighted about, but I have very few true expenses covered to be honest.

I can't change bank easily either so that narrows the field even further.

OK well hang on, one thing - you can absolutely reconcile even when you have transactions which haven't cleared! I do this all the time. It helps "lock off" transactions prior to that date so you don't need to check them again. In fact it's why there is a cleared toggle on YNAB.

I agree about budgeting for interest separately to paying down debt. I find this is the most useful technique for me.

If you have multiple debts, the free version of undebt.it is well worth playing with. That has all kinds of interest options that I didn't really understand but will calculate interest for you.

Bertie your post rang a bell with me from something I'd read a while ago - there is automated YNAB/Undebt it syncing.

undebt.it/blog/new-undebt-it-feature-ynab-account-integration/

@BertieBotts

OK well hang on, one thing - you can absolutely reconcile even when you have transactions which haven't cleared! I do this all the time. It helps "lock off" transactions prior to that date so you don't need to check them again. In fact it's why there is a cleared toggle on YNAB.

I agree about budgeting for interest separately to paying down debt. I find this is the most useful technique for me.

If you have multiple debts, the free version of undebt.it is well worth playing with. That has all kinds of interest options that I didn't really understand but will calculate interest for you.

But when it says "is this your current balance" it will be wrong?

Not if you've done the cleared bit properly. It only looks at your cleared balance rather than the current balance. Give it a try, you can always press undo :)

I think undebt.it syncing with YNAB is a paid feature. I didn't think it was worth paying for but maybe it is if you have more debts and want to integrate things.

I'm sorry but I don't understand. I'm on my phone but I will have a look tomorrow and see if I can work out what you mean

At the top of the accounts screen on web, it shows you two balances, your cleared balance (including only transactions which are cleared/visible to your bank), and your Working balance (including all transactions even ones from today).

When you reconcile it only asks you to match the cleared one. But YNAB will keep displaying the most up to date balance so you know how much you have to spend. Useful for me, as as you can see I have a €300 transaction that technically went out today (except, of course it didn't because it's Sunday) so if I was looking at my balance and seeing €320 that could be pretty disastrous when it all comes out on Tue/Wed and then I'm in my overdraft.

Oops meant to attach this

Oh well, that's fairly useless as it comes out so small :o

There are some screenshots in this article:
docs.youneedabudget.com/article/166-reconciling-accounts

docs.youneedabudget.com/article/1705-finding-your-cleared-bank-balance-reconciling

That one explains better

I understand about knowing your cleared balance but I mean I can't click on reconcile and in the top right because there are still transactions pending. It doesn't really matter I suppose because I can see my working balance and know how much I have, it just irritates the perfectionist in me that my bank account is so slow and I can't click the reconcile button and make my transaction page neat and tidy.

I mean I can't click the reconcile button in the top right hand corner

If you click reconcile it will ignore the pending transactions. Just go from the cleared balance and cleared transactions

Does your bank show you a cleared balance?

My bank account shows me what has cleared to that point but because my debit card is really a credit card that I pay off every couple of days, there might be a big food shop that won't go for 2 or even three days and to see that I have to go into the section for that card and look to see what is there and then compare to what has already gone out in the balance section. Which is why ynab is great actually cos I can instantly see my actual working balance.

I even went online to see if I could get a simple debit card but couldn't see anything that cleared in under 2 days. I might go and ask. DHs card (same bank) clears immediately and seems to be a true debit card with no credit function

Why can't you click it? I don't understand. What happens when you click the reconcile button? Is the button not there?

I've had YNAB for years and have the legacy subscription. I need to get back on the wagon with actually budgeting, but have found that over the years the principles have become second nature, so I know by glancing at our bank balance whether we're 'ok' or not, depending on what time of the month it is. We get money in a mixture of cycles - monthly, 4-weekly, and weekly, so it's never as simple as 'here's your money and off you go.'

DH's wages tend to pay all our DDs, then our tax credits, carers allowance, etc., pay for the variable expenses. But it's October, so we really need to be thinking ahead for Christmas, etc.

I thought that you only click it once you have found all the transactions have cleared in your bank account and locked each one in ynab? So for instance I have a load of transactions that have cleared my account and I have given the little green lock in ynab and then about another 5 that haven't cleared my bank account so they have a little Grey circle in ynab. I thought I had to give them all green circles before clicking reconcile?

OK I'm on the computer and I think I have understood now.

OK yes, I see. I have worked it out now. I thought I couldn't reconcile until all the transactions were green, but I see it just ignores the grey ones. So now I have a more manageable list. There was an 11 cent discrepancy that I couldn't find for love nor money but I have just adjusted and moved on.

Thanks for the explanations and sorry for being a bit dozy hahaha.

Glad you're sorted

Haha not at all! Just wanted to help :o