YNAB - good or bad

kindofagilr

Is there anyway to edit the name is something in the budget part, I’ve done a spelling mistake and doing my head in lol

Willing2Learn

kindofagilr wrote: »

Is there anyway to edit the name is something in the budget part, I’ve done a spelling mistake and doing my head in lol

Click the name of your budget at the top left and select 'Budget Settings'
You can change the budget name in there.

luckofthe_irish

I absolutely rave about YNAB to anyone who asks (or even anyone who doesn't ask).

It took me a couple of trys to get started with it, but have now been using it consistently for 2 years! I am debt free since June this year and have a house deposit saved up of over £6000 - something which I could never have imagined two years ago!

Use all the support - the team are great and respond to emails personally very quickly. They have a wealth of information on their website and the tutorials are great!

Willing2Learn

Lydia42 wrote: »

Signed up and had a play last night. Lots to learn me thinks!!!!

It is seriously well worth investing the time to learn the methodology that underpins YNAB. Don't be afraid to ask for support!

ftbwannabe

It took me 4 goes to 'get' YNAB, but now I am obsessed. It, & the app, are great. Once I found the help & support forums, that helped loads (neither are signposted from the budget part itself, or not so that I could find them).

kindofagilr

When you load your credit card balances, is there anyway to not always see it? Just the big negative red figure is putting me off lol

Willing2Learn

kindofagilr wrote: »

When you load your credit card balances, is there anyway to not always see it? Just the big negative red figure is putting me off lol

The big red figures should be motivating you and encouraging you to pay down those debts. And I don't think it is possible to hide accounts without closing them.

Alwaysskint2016

When I added my credit cards I set them up as an unlinked bank account but instead of selecting 'credit card' on the first drop down option (which is an account used and included in your budget), I selected the option under 'Tracking' called Liabilities. That way it lists your accounts under 'Tracked' in red but don't include them in your daily budgeting.

When I first set up YNAB I had a credit card under 'Budget' and it constantly looked as though I was in minus figures (red) due to the credit card debt. By using Tracking instead, it logs the debts separately so you can still see your debt figures but not have it included in budget.

Note: I've just been watching some tutorials online about dealing with savings accounts and credit cards and they tend to add these under the budget option. I prefer to keep them separate, especially the debts, so I use the tracking option, but I think you need to try it out and find which works best for you.

bilko89

I don't know if this is the reason others get confused (I was the same until I contacted their support live chat).

I always used spreadsheets, forecasting my salary in (usually the same) and then set up all my deductions (rent, council tax, debt repayments etc.....)

In YNAB, you are only ever budgeting money you actually have! Yes, you can set up future transactions in each bank account (wage coming in, DD coming off) but YNAB only shows what you have at this present time!

Once I got my head around that part thanks to the live chat I had, and a workshop I watched on You Tube, the guy hosting it was amazing, easy to follow.

I'm now patiently waiting on my monthly wage to come in so I can start budgeting and allocating my money!

kindofagilr

Alwaysskint2016 wrote: »

When I added my credit cards I set them up as an unlinked bank account but instead of selecting 'credit card' on the first drop down option (which is an account used and included in your budget), I selected the option under 'Tracking' called Liabilities. That way it lists your accounts under 'Tracked' in red but don't include them in your daily budgeting.

When I first set up YNAB I had a credit card under 'Budget' and it constantly looked as though I was in minus figures (red) due to the credit card debt. By using Tracking instead, it logs the debts separately so you can still see your debt figures but not have it included in budget.

Note: I've just been watching some tutorials online about dealing with savings accounts and credit cards and they tend to add these under the budget option. I prefer to keep them separate, especially the debts, so I use the tracking option, but I think you need to try it out and find which works best for you.

Thank you, I will give that a try, I have a spreadsheet set up for years so I do know my totals etc, but it will definitely de-motivate me if it's a red figure every time I go in lol

I was hoping to use YNAB as a day to day thing to curb my spending as it has gone a bit lost along my debt way iyswim

bilko89 wrote: »

I don't know if this is the reason others get confused (I was the same until I contacted their support live chat).

I always used spreadsheets, forecasting my salary in (usually the same) and then set up all my deductions (rent, council tax, debt repayments etc.....)

In YNAB, you are only ever budgeting money you actually have! Yes, you can set up future transactions in each bank account (wage coming in, DD coming off) but YNAB only shows what you have at this present time!

Once I got my head around that part thanks to the live chat I had, and a workshop I watched on You Tube, the guy hosting it was amazing, easy to follow.

I'm now patiently waiting on my monthly wage to come in so I can start budgeting and allocating my money!

I think that is what's getting me, I've been a spreadsheeter for years, and as soon as my statements come in I amend the sheet to know what I am going to have for the coming month, I am not sure I am going to be able to change my mindset xx