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Original poster

You Need A Budget

17 replies

NothingIsWrong · 03/07/2022 19:33

Does anyone else use this? I've signed up for the free trial, but I'm a bit nervous about having to actually account for all the pennies.

In the situation that we were pretty much fine until the gas bill doubled, the kids bus to school doubled, food and diesel mounting - and now I do need to count the pennies...

We also have variable income amounts and dates due to DH being self employed with a mixture of salary and dividends, which makes things complicated as well!

I'm only on day 2, but do any old hands have any advice?

OP posts:
Nightswimmin · 03/07/2022 19:43

Yes, I use it and think it's fantastic. I have never felt so in control of what I need my money to do/cover. It takes some persistence and every so often I would remember something else I need to make part of my budget (those irregular bills or an annual one I'd forgotten about) but that hardly ever happens now.
I can't help with the irregular income but there are some great videos out there which cover nearly all scenarios, the ones by Hannah I always found good (think they're on the Ynab channel on YouTube), I would go and watch some of those to help get started.

Original poster
NothingIsWrong · 03/07/2022 22:04

Thanks - I'm really hoping this is going to work for me, as there are too many months recently where I've forgotten something!

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Girlintheframe · 04/07/2022 06:11

I've used it for years now. Really like it and has changed the way we budget completely

IsDaveThere · 04/07/2022 13:43

I've also used it for years - I actually have savings now! Not much, but more than i ever had before I started using YNAB. I can see where all my money goes and allocate fund to different 'pots' every month so I know I have enough for each bill. I absolutely love it.

Amber17 · 04/07/2022 13:58

Love it. My DH gets paid 4-weekly and I get paid monthly, so I find it v useful as I can only budget with what’s already in the account - so at the start of the month mine does mortgages, bills, etc, and then whatever time in the month DH’s money comes in I can put some in all the less essential categories and savings.

It does need a bit of effort and regular attention, but it works well. The videos and articles on the YNAB site are really useful. Get it linked to all your cards and accounts so it automatically enters money going in and out, then you just have to approve and categorise transactions instead of remembering to manually input everything!

Moneypanicker · 04/07/2022 14:22

Its soooo good. Well worth the money. I've been using it for years. With my ex-husband he used to put his card in the ATM see money and take it out not thinking about what bills were coming up. It changed him doing that, my new partner loves it too. Bit of a learning curve especially with credit cards but once you get the hang of it it's great.

Original poster
NothingIsWrong · 04/07/2022 21:34

I've managed to link all our accounts apart from the mortgage, which it won't link to for some reason. But that's not the end of the world, as it's one payment a month and then accrued interest at the end of the month.

I would like to say it's reassuring? But in reality we are a bit fucked for the next month, hopefully after that I can get us straight!

OP posts:
FletcherJessica · 04/07/2022 21:38

I love YNAB! Definitely persevere. I think inprobably tried 3 or 4 times before it finally stuck!

Original poster
NothingIsWrong · 04/07/2022 22:23

Moneypanicker · 04/07/2022 14:22

Its soooo good. Well worth the money. I've been using it for years. With my ex-husband he used to put his card in the ATM see money and take it out not thinking about what bills were coming up. It changed him doing that, my new partner loves it too. Bit of a learning curve especially with credit cards but once you get the hang of it it's great.

What is the tricky bit of credit cards? I've been watching some of the videos and I think I'm getting it...

OP posts:
Amber17 · 05/07/2022 08:44

@NothingIsWrong I don’t think I linked it to the mortgage account directly but you can set up the mortgage as a Loan with the current debt and then link the monthly payment to it.

Gazelda · 05/07/2022 08:54

Amber17 · 05/07/2022 08:44

@NothingIsWrong I don’t think I linked it to the mortgage account directly but you can set up the mortgage as a Loan with the current debt and then link the monthly payment to it.

OMG! I'd never thought of doing that.
I don't think I'm making the most of YNAB. I'm going to go back to basics and follow the films.
Does anyone have an opinion if I should restart my budgets or tweak what I've already got and add features as and when I work them out?

Original poster
NothingIsWrong · 05/07/2022 08:57

Gazelda · 05/07/2022 08:54

OMG! I'd never thought of doing that.
I don't think I'm making the most of YNAB. I'm going to go back to basics and follow the films.
Does anyone have an opinion if I should restart my budgets or tweak what I've already got and add features as and when I work them out?

Show quote history

This is what I did in the end - and then it's a transfer from my main account to my mortgage account. You can even tell it the interest rate and it works out how long left. I haven't done a full month yet, so I assume you enter the interest payment as cost - maybe it accounts for it exactly if I've told it the interest rate...

I'm hoping that although it is quite time consuming now it will get quicker

OP posts:
swedex · 05/07/2022 08:58

Yes and it's fantastic it really makes you understand how you spend your money although when we first started using it we had a hell of a lot in 'spending money' as we'd take out various amounts of cash for shopping etc so £20 here and £10 there and it was shocking to see that it mounted up so much. Nowadays we very very rarely take cash out so it's much easier to account for everything.

Original poster
NothingIsWrong · 05/07/2022 11:12

Yes I hardly use cash now, which should help. After 3 days its shocking to see how the little purchases, coffee, snack, quick Amazon purchase, are adding up.

Let's just say I am now less surprised already as to how we always had too much month...

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NoSquirrels · 05/07/2022 19:10

I love YNAB. It’s basically a state of mind rather than a ‘budget’. It changes how you think of your financial priorities - especially as a couple, as most people prioritise different things that aren’t readily apparent. It takes away a lot of frustration from the discussions in the end because you can see the figures and effects of spending/saving/moving money so clearly.

HouseofHolbein · 18/07/2022 06:38

How are you getting on with it now? I'm 2 months in and loving it 😊

It's helpful for me because I get paid 4 weekly but bills go out monthly which can be awkward. This month is my 2 payment month so I'm really going to be able to sort my finances out 😊 normally I'd fritter the extra payment on 'stuff'

Blahblahblab · 18/07/2022 07:01

I love YNAB as well and I've been using it years now. It's can be scary at times to have it laid out in front of you how you don't actually have enough money to do everything you want/need to do but the security it gives me now is massive. DH hated it, until he lost his job over Covid and accepted without YNAB we'd have been in a much worse place.

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