You need a budget (YNAB) advice thread

Thistlewhistle

If a certain income you receive is specifically ringfenced for a certain thing in your budget, you can cut out the manual budgeting step by receiving it straight to the category you want it to end up in. This does prevent you from running reports that accurately show income but I find it easier, and I don't reply on the reports side of stuff much anyway.

T;)

lavandergirl_2

Seen_the_light wrote: »

Hi, I'm contemplating buying this programme however have a couple of questions. I see that it can only be downloaded onto a PC which I don't have regular access to. I see that there is an 'APP' for my tablet / phone - does any one know whether, once the initial categories etc are set up, whether the APP will allow me to function on a day to day basis?
My other question is about categories. I have been operating a similar system with my bank account using various 'e' accounts which I have designated for various purposes (Birthdays, car, etc). Is it possible to start a category with an existing balance?

I downloaded YNAB on my old laptop but only used it only a handful of times (just to create categories and adjust my categories) because the laptop is dead. I always use the app all the time but have a very strict rule in entering all the transactions.

You can certainly use your savings as a "buffer" for your various categories. That means you know exactly how much you have in your various categories.

I'm also creating a cheat buffer- trying to have at least six months worth of buffer in each of the monthly spending categories.

MoneyMission2015

Hi All


I'm hoping somebody can help.


I've been away for a week. When I came back I had to reset my computer, so I've reset it and reinstalled YNAB and Dropbox. I've opened YNAB and tried opening my budget but it keeps saying there is an error. I emailed support and they told me to delete the file from Dropbox and then restore it from the deleted items, which I have done, but it is still not working.


I'm just wondering if anybody has any ideas they could share? I would prefer not to have to start again but at the moment it looks like this is going to be my only option as it also won't work on the app on my phone anymore either, so it's obviously a problem with the file.


Thanks in advance

nyermen

Hi MoneyMission - You may be better asking on the YNAB forums for technical thoughts. You'll get a wider audience where someone may have encountered the same thing.

Not clear where you see the error - can you open anything, eg. could you load an older version (I've got lots, even over the last few days, so not too much should be lost).

Or - there is the YNAB "file folder" (at least mine) containing individual budget saves inside it.

Eg. Mine has a number of files in it, such as a number of backups. It's not a perfect option, but I'd:
1) Please start by backing up the entire budget folder (of course). Then assuming only the latest part is corrupt (hopefully), you can restore a previous backup.
2) Inside that folder is a strangely named folder (eg. Mine is called data31-#####). Note there are lots more hidden, turn off "show hidden files" to see the one that is the latest.
3) Inside that folder are two folders (in my case), the most recently modified one contains a file called "Budget.yfull", which is the latest full version of your budget.
4) Back in the root folder of point (1) are backup files. Each of the backup "files" is actually a form of zip file, on my machine 7zip opens it, and inside is a compressed version of the full "budget file" mentioned in part (3).

Hopefully - copying that file over the other one will restore you (barring a few changes).
No liability accepted though - Please, check the YNAB forums, there may even be a proper working description of what I've probably not got correct above.

In any case, fingers crossed.

Peter

nyermen

Ps. Have you been using the latest version always updated? You need to migrate a budget created by a much earlier version of YNAB...?

MoneyMission2015

Thanks nyermen, I'll try all your suggestions. It's the latest YNAB, I always update it whenever it prompts. I can open the software & it gives me the option to open my old budget which I haven't used for about 2 months, so I click on Choose another budget (or something of that sort), so it takes me to where my budgets are saved in Dropbox. I select the budget I want to open and that's where I encounter the error.

merlin1

Good evening all!

I have found this thread after reading another post elsewhere recommending this programme to another forum user. Ive looked on the website and it is appealing - tomorrow doesnt look like a very nice day weather wise so what better to do than budget, budget, budget!

If I give you a brief run down of my circumstances do you think you could advise it could work for me? I've found myself in an awful pickle last week.

I have recently finished uni, i was meant to start a new post grad course on the 21st of this sept but ive had to defer til next september this has thrown me and my finances into absolute turmoil, living on student finance i had budgeted everything until the new course finance came in but now ive had to so sign on. Ive interviews next week but the panick is starting to set in. so, here is me...

account 1 (savings) just £20 left
account 2 (spends) £35 left in, CB/CTC due in next plus a little bit of JSA (wont see the full amount until 2 weeks later!)
account 3 (bills) every single DD/SO comes out of here, however this account sits in the red via its overdraft (interest free no charge)

Do you think this programme will help me until i find work and beyond? Ive read through this thread but ive struggled to see anyone start a DD bill account that is already in the red?

PLease help? x

sambuca9

Hi Merlin

I have recently started using YNAB, and my main account that I pay the bills from is overdrawn. There is no problem entering this on YNAB. I think the main thing is can it save you money? For me, I spend until my wages are gone and have no idea where it all goes, so yes I think it will work for me. They do have a free trial for a month so maybe it is worth downloading it and having a look.

Good luck

nyermen

Hi Merlin,

I'll start by suggesting you look at the YNAB forums around dealing with "Pre-existing debt".

Revolving credit (Overdrafts, CC, etc) can be difficult to explain, but I'll try - you need to consider as pre-existing debt any part of the facility that you need to use.
So If I need to use some of my overdraft eg. £500, even though the current balance is a lot less, I will do something like:
- Category "Pre YNAB debt: Overdraft account" minus 500.
(this will give me £500 available to budget)
- Allocate the £500 as I need across your bill categories.

If in between jobs, and you will need to use some of your overdraft this month, and more next month, then you set the Pre debt to what you need this month, and then add additional "negative" in the next month as well. (Obviously only up to the limit of the overdraft).

As money comes in, you add a positive amount of whatever you can afford to the category, to "pay the debt back"

I'm not sure how much it'll help, it's not a proper forecasting program (Hence I wrote myself an excel spreadsheet to do that), but attend some YNAB webinars as it's the principles that really help. Plus I believe they hand free copies out to selected attendees.

Good luck,

Peter

merlin1

Thank you Peter and Sambuca

I'm not at all shy of budgeting; have made my student finance stretch year on year but now the wheels have fell of my wagon and there is limited income - if i get offered a job next week it could mean another 4 week wait until i get paid.... it is the here and now this minute i need to see!

I'll follow some guides and sign up for webinars, and its good to know my circumstances can be put into the system sambuca9, thanks for your posts fingers crossed!!!