You need a budget (YNAB) advice thread

Poddly

I'm a YNAB fan too, really like using it and even DH has admitted it was useful when making a list of expenses to be reclaimed.

About financial education, I think it is starting to creep in in schools. DS is 16 and in Sixth Form and they have 'finance' lessons, so he has been asking lots of questions about credit cards, mortgages etc. Apparently the teacher is qualified to teach the subject because she has a mortgage....!!! My younger DS is 13 and they have been doing something similar too....so maybe there is hope for the next generation!!

Bublin1

Shocking.....
I have reconciled my accounts and I'm 57p short in my current account (even though the actual available balance is over £800!!!


I love YNAB.


I have about that amount rolling around in my car...Do you think the clerk in Natwest will look at me sideways if I deposit 57p into my account????

andyfromotley

Whoaaaa!

Lock the doors bublin, nobody leaves until they admit to spending the 57p. (and that is suspiciously in the range of a pack of sweets so don't discount small children!!)

The culprit gets to update YNAB for a month!!

Pixie5740

Updating YNAB isn't a punishment though Andy.

FireWyrm

Bublin1 wrote: »

Shocking.....
I have reconciled my accounts and I'm 57p short in my current account (even though the actual available balance is over £800!!!


I love YNAB.


I have about that amount rolling around in my car...Do you think the clerk in Natwest will look at me sideways if I deposit 57p into my account????

"You know you are a YNABer when your net worth is £12K+ but you cannot afford to go to McDonalds [because there is nothing in that category until payday]"

Welcome to the club Bublin.:rotfl:

plymouthscubagirl

Hey you lovely lot

I'm relatively new to YNAB. I'm kind of getting to grips with it (did watch the tutorials although think I should do them again now I'm using it properly). The issue I have is discrepancies every month, or whenever I reconcile. It stresses me out, I've actually started from scratch twice since I got it! Mainly because I was seriously overspending in the categories at Xmas and couldn't seem to claw it back? Anyway I have since reformed my spending (!) and I generally do stick to my budget. I think I migth have figured where I might be going wrong. Say if I have £300 spending allowance, and I put £80 on tesco against the 'spending' category, I then take return £48 worth but I've been putting that as income to spend, rather than back against that category. Guessing this is why its wrong, plus I guess it will mess my allowance up for the month?

Really want to get to grips with this but am struggling a little at times due to the difference in balance etc.

andyfromotley

Sorry I'm a tad confused, where did the £48 come from? If its change from your shop or a refund say i would say yes it just goes back in your balance for that category. If you put it as income you are in effect spending that money twice and definitely won't tally up. I'm new to it too but some of the older hands will be sure.

Red-Squirrel_2

I've just signed up for the first 'class' listed on the website? Is that the one that gives you the chance to win the software for free?

At the moment, I'm not really seeing how it helps beyond letting you see everything all on one screen, but I'm hoping the class will reveal a way to get more out of it.

andyfromotley

All of the classes give away one free copy.

Well at heart its just a spread sheet, but most people who like it seem to appreciate the functionality and simplicity of how it lays out your financial position in real time. (it can be a bit of a faff string up and reconciling) I don't generally pay for apps and the like but i would of for this. (i got one free as I'm a student).

Elmly

This reconciliation lark confuses me!! My ynab account balances all match my bank account balances so do I need to reconcile?