You need a budget (YNAB) advice thread

LondonGirl252

Signed up to the webinar this Friday, hoping Friday will be so unpopular that I'll have a good chance of winning the free version!


I have added a purse account today too, I want to track my cash spending too as my horse riding, cleaner and a couple of other bits are all cash

japmis

andyfromotley wrote: »

Reconciled again, 5 mins, only two non inputted transaction. Definitely getting there.

How important is reconciling? I take it you are reconciling to your bank balance?

SeduLOUs

japmis wrote: »

How important is reconciling? I take it you are reconciling to your bank balance?

Reconciling your bank balances is vital - you can't rely on your budget unless you are certain that you have accounted for everything you are spending and that the cash you have budgeted in YNAB reflects the reality of what you actually have.

I find it much easier to reconcile regularly rather than trying to do it for several weeks or a month. I do it every few days and it literally takes about a minute as most of the time I have already posted all of the transactions in YNAB so am just ticking them off.

andyfromotley

japmis wrote: »

How important is reconciling? I take it you are reconciling to your bank balance?

it is really important to reconcile. it is your guarantee that YNAB accurately reflects your true position.

I found it a bit tricky at first but much easier now. but to show the importance of it i have found transactions on my statement that i have forgotten to input on ynab every time i have done it.

I just print of my statement every two weeks and use a pen to tick them off there and click to show them reconciled on YNAB. You can do it importing the statement int ynab and it matches up the transactions but i prefer my way.

I also try to pay for everything on my switch card so that i can find any missing transactions.

SeduLOUs

andyfromotley wrote: »

I just print of my statement every two weeks and use a pen to tick them off there and click to show them reconciled on YNAB. You can do it importing the statement int ynab and it matches up the transactions but i prefer my way.

Agree - I hate the auto-import, it just makes it unnecessarily confusing.

I reconcile every few days because I can't even be bothered to print anything! I just enter the current balance and work through the latest transactions until it balances. Other than the 1st of the month (bill day!) there's usually only 1-2 transactions a day for the rest of the month.

pillion

I agree, it really is important to reconcile regularly. I try and do it every morning at the same time as giving everything a glance over. That way I always know exactly where I'm at. Ynab has been a revelation for me. I can't believe that I have a record of every single penny I spent last month and even more unbelievable was that I still had some pennies left on pay day.

[Deleted User]

The webinar on reconciling recommend doing it a couple of times a week

nicedream_2

Hello

I've also recently signed up to YNAB. It's amazing, but it does confuse me! Signed up to a couple of webinars so hopefully this will help!

I was hoping someone might be able to help me. I have a overdraft which YNAB has treated as Pre-YNAB Debt. As it's pretty small I want to balance it out and pay it off this month by spending less income. How do I input this? If I put it as outflow it removes the money from my joint account. If I put it as inflow, it thinks I'm inputting more money than I am paid?

Head hurts!! Any help appreciated

Frogletina

nicedream wrote: »

Hello

I've also recently signed up to YNAB. It's amazing, but it does confuse me! Signed up to a couple of webinars so hopefully this will help!

I was hoping someone might be able to help me. I have a overdraft which YNAB has treated as Pre-YNAB Debt. As it's pretty small I want to balance it out and pay it off this month by spending less income. How do I input this? If I put it as outflow it removes the money from my joint account. If I put it as inflow, it thinks I'm inputting more money than I am paid?

Head hurts!! Any help appreciated

If you have enough income which will clear the overdraft you just need to move the money within the budget categories.

Debit the amount you need to clear the pre ynab debt from the category with the extra income and add the same amount to the pre ynab category which will reduce it to nil.

No need to enter outflows or inflows on the register.

frogletina

japmis

I've received a student loan rebate of £300 (YAY!), how do I enter this into YNAB? Income for May or June? Or do I just pay it straight out again to my CC to balance to zero? (I don't have my CCs on budget for YNAB).