A good budgeting app???

peaceandfreedom

FireWyrm wrote: »

P.S dont tell the brethren over at YNAB Towers (or they'll excommunicate me) but I do actually forecast 12 months in advance. I have to, or I cant work out how much I need to be setting aside each month for longer term savings (MOT, Car Tax etc). I do however ensure that the budget is sound and workable every month and that my fantasy figures match reality. In truth, I can pretty much guarantee that I will be paid every month, on the last working day of the month and how much that will be. If I am to be made redundant, I will have months of warning and I can tweak the plan accordingly. I dont see why you cannot forecast frankly, it is a subtlety that eludes me evidently. I decided to keep my mouth shut and do as I please. It works for me.

Interesting :think:. I have worked out monthly budget figures based on a spreadsheet where I have listed probable outgoings over the year. I do like to forecast a month or two ahead and I do this by having an 'anticipated income' budget category. I only put guaranteed income in this (salary and child benefit).

I think it will all be easier when I have some buffer money and there is plenty available in each budget category. At the moment I am still living from month to month, but in a far more organised and disciplined manner than pre-YNAB.

happybunny86

I also forecast to help me decide where I'd like to get to. You have to really if you are saving for something. I'm trying to get a month in front to help out and pull some savings together. Ultimately if you got made redundant you'd have to forecast but it helps me to have an ideal of what I'm aiming for long term and then to manage my money on a monthly basis to attempt to achieve that.

SeduLOUs

I bet ears are burning over at the YNAB forums.

The users there get really really annoyed when you suggest doing anything that isn't strictly adhering to the YNAB 'philosophy'.

happybunny86

SeduLOUs wrote: »

The users there get really really annoyed when you suggest doing anything that isn't strictly adhering to the YNAB 'philosophy'.

Tee he I'd love to know how they think you plan to get a house deposit together without first working out circa how much you need to out down and in what time frame you can get it together!

I also find it ironic that in one of the videos it says to start and put money to one side for annual bills I.e. Mot and insurance. Isn't that the same thing??!!

SeduLOUs

I know. They say you can only budget what you have and can't rely on future income, but the basic idea of saving monthly for a car MOT/holiday/whatever has an underlying assumption that you will have regular monthly income to make those savings from.

Fortunately the software is actually brilliant, even if the philosophy is slightly lacking in logic in places.

happybunny86

SeduLOUs wrote: »

Fortunately the software is actually brilliant, even if the philosophy is slightly lacking in logic in places.

Completely agree. Rolling with the punches was a key lessons for me. The software also looks nice too. Im a stalwart for design!

getmore4less

SeduLOUs wrote: »

I know. They say you can only budget what you have and can't rely on future income, but the basic idea of saving monthly for a car MOT/holiday/whatever has an underlying assumption that you will have regular monthly income to make those savings from.

Fortunately the software is actually brilliant, even if the philosophy is slightly lacking in logic in places.

They are using the term budget wrong

The fundamental to budgeting is planning ahead.

The thing the planning tells you is how much income you do need and for how long to turn the plans into reality.

A good plan will take your through to retirement but it will change numerous times as your priorities change and income generation changes.

That's why you do around 12months in detail with some longer term savings factored in with the following years being good guestimates

The better and more control you have the further ahead you can plan.

A critical first step is spending less than you earn and keeping it up, that needs planning.

cherylclarke

I use Goodbudget which is ok, based on virtual envelopes for all of your outgoings. I'm trialling YNAB too because i'm not entirely happy (mainly because I keep filling the envelopes more than once by accident) but also using my good old excel spreadsheet!

sexyshark

YNAB is now £7.49 get it at this price OP it is normally £30

greensalad

I'm trying so hard to get on with YNAB. But I keep running into problem after problem. I decided to start with the walkthrough and followed all their instructions. Turns out you can't do the walkthrough unless you have a positive balance in your account. So I can either do the walkthrough or actually put the right value in. How stupid, and difficult for those of us who are trying to budget in order to stay out of our overdrafts!

I wish YNAB had a way of handling overdrafts. I sadly have to live in mine, as once my bills have gone out I hit about zero. I then live in my £500 overdraft. I wish YNAB would allow me to put this overdraft balance in.