Related to personal finance, budgeting, money and financial matters. I did save my YNAB 4 data in a separate budget though so I could reference later if needed. It feels like a lot of effort to keep this going, though. I’d say yes for most users. It involves creating an off-budget tracking account and transferring any reimbursable expenses to it. It annoyingly shoves extra categories at the top in both the apps and the web interface. We found YNAB on Reddit. In this case, the future is worst than the past. We set up categories for fun things too: going to the movies, buying my girlfriend flowers. I’d go out, order lobster and shrimp, or spend way more on groceries than I normally would. so there’s no real way to forecast further then that. you’re right that putting the income in “budget next month” doesn’t include it in the income reports. Pay off debt or build up savings?Photo by Sharon McCutcheon on UnsplashThere was a time when I was really proud of my finances. Fast forward 2 years and I maintain my view that the new YNAB: I was a very loyal customer and told other people about the software, now I warn people against it. – no carry over expenses? Yep the same for me … Im currently sticking with ynab4 but seriously thinking about switching to Banktivity despite that it doesn’t do budgeting as well … a one off cost where I know what I am working with without the need to be on line .. and with much better reporting/drill downs etc Hopefully you have better luck importing than I did. Thanks again! So, I looked at what I had in my account and just used that money. You’d think after 2 years they’d have a polished product. Rather than take the time to troubleshoot, I just started a new budget from scratch. He learned! Meaning you can do all your budgeting from your phone if you want. Not long ago, we highlighted YNAB’s personal finance app in our blog about budgeting apps. in YNAB, i handle it by creating a category called “budget next month.” all my current month’s income goes into that category. Aside from adding easier goals, it’s still a very viable product. Thanks, that’s also an interesting idea. I want to believe the future will always be better than the past. However, since I have to approve the scheduled transactions, maybe I could just do the move whenever I approve them. If I have to use a workaround I will end up not using the software and not budgeting, and therefore losing money. Giving every dollar a job, and where to click to get it done. I still haven’t found a budgeting app that’s as polished and tailor made for budgeting as YNAB. It was at that point I realized my expenses were outpacing my income, and I would just keep going deeper in debt if I kept it up. It’s been almost two years since You Need a Budget switched to a web based, subscription model for their software. Alex, I’m a bit late to the discussion. then it later synced to my account when i turned airplane mode off. We were both kind of financially reckless, and knew we should probably give it a try. Goals make it easier to remember and know how much to budget to hit my savings goals. Even if I only get halfway there, I’m already doing better than I’ve been doing—up to this point I haven’t had savings. i wish they would’ve kept the “live off last month’s paycheck” as an official rule. Mint has this feature. I found this to be a helpful feature. If I’m out and about I use the mobile app. I too miss the “live off last month’s income” concept and the ability to put income into the “next month” category. If I may share my humble approach to reimbursements, please read on. I can still get lobster and shrimp, but that means it’s budgeted for and I have waited until I can afford to splurge without sacrificing something more important. hope YNAB4 works out for you! If you have enough set aside in an emergency fund and live on last month’s salary, you’re set. YNAB stands for You Need a Budget, and it's true: You do. By comparison, desktop app and mobile apps that sync mean I’m in control of my data and I don’t need to be online all the time to do my budgeting. Living on last month’s paycheck. I’ve been using the “Income v Expense” report to easily see my income for a given month. I had a month and a half to pay off $456, but I decided just to pay it off now. One thing that really helped was simply taking the time to go over our monthly statements and finding out what bills came due when. When they launched their new service they clearly stated they would put out a desktop app in the future. For those who are loathe to set aside idle money still, perhaps using the emergency fund to handle this will work the same way. Written by They are passionate about helping people gain control of their money. Once you understand it’s methodology and how to use the app, you come to appreciate how well built the app is. it seems a big part of YNAB’s methodology is focusing on the here and now. I incur these expenses monthly and it can amount to significant inflows and outflows over time (obviously balanced). sync for ynab, YNAB in the Steam summer sale : ynab - reddit Save www.reddit.com. i get the privacy concerns. Thanks so much for the video on how you handle reimbursements – I was having trouble getting my head around it, and the video made perfect sense. It’s also a pain for recurring scheduled transactions (e.g., salary) since the moving of the funds from “To Be Budgeted” to “budget next month” can’t be done automatically. – no ability to see what my multiple bank balances might look like in a few weeks time based on forecast expenses? Welcome to YNAB's 2021 Debt Smackdown! They traded off an additional $10 for a $50 yearly subscription because customers were bailing after 1-2 months on the horrible failure that is nYNAB. Solution: SAAS (software as a service) and change your algorithm for “success” in personal finance. let’s hope that trend continues. I have a lot less stress. I’m not always timely with expense reports so the lag is important. For example, expenses you plan on being reimbursed for. YNAB claims to help you "break the paycheck to paycheck cycle, get out of debt, and save more money". But this time around, some of my numbers didn’t match up. One thing no one seems to be afraid of regarding the online budgeting (any systems) is that these companies use your data, analyze them, profile your spending and saving habits and most probably sell them to interested (ad) companies… This is my main reason I prefer offline budgeting.. I am starting to feel misled that they promised a desktop app but have not delivered. Personally my biggest beef is ‘cloud based app’ and all you say above followed by the cost! Feel free to post any news, questions, budget strategies, tips & tricks and advice related to YNAB. It goes down when I incur and back up when I get reimbursed. 39 articles Credit Cards & Debt. Not ideal, but I rarely have reimbursements on my checking/savings account, so not a big deal. If you upgrade, there is a way to import your YNAB 4 data into YNAB. They try a budget for a few weeks or a few months, and they’re getting discouraged because they don’t feel they’re getting out of debt quickly enough. Therefore, I simply created a reimbursements category and ACTUALLY PUT MONEY IN IT. I was doing great. We came across Kevin on Reddit, where he shared about his first month of budgeting with YNAB. It gets a bit trickier when the reimbursement is from a checking/savings account. Then we pulled together all our debt and set a date to have the credit card debt paid off in just under two years. We put all of the primary monthly recurring expenses in the first Category Group section: I have them labeled and listed by due date. This is human behaviour 101 when it comes to system design of any kind. I’m still using YNAB 4. When you’re starting to budget, don’t get discouraged. Quicker reconciling because of auto-importing of transactions. and in terms of an online solution, the perks of connecting YNAB to my bank accounts outweigh the very low probability that any of my accounts will be hacked. Happy New Year! So helpful! Annoyances / brokenness I didn’t mention: split transactions, recurring transactions, sorting & transaction entry in the account register, a step back in reports. | Unfortunately, none of the banks (that I know of) is open to the idea to create a read-only account. so like you suggested, i took some money from my emergency fund and funded my “to be reimbursed category.” anytime the category is less than that amount, i know i have money waiting to be reimbursed. – is a functionally inferior design for users compare to YNAB 4. Let’s jump in and see what I like about YNAB compared to YNAB 4. I am also not convinced by security provisions and lack of certification from someone like Norton. Related to personal finance, budgeting, money and financial matters. that was something i learned after i recorded that video. And please know I wrote this review before I knew I could earn a commission. I also paid off a zero-interest credit card that I had fallen behind on. So in it’s current form, YNAB covers all the main bases. I’m here because I want an OFFLINE budgeting software. I will stick with YNAB 4 for as long as it works and then I’ll move to something else or write my own software and sell that because there will be a gaping hole in the market for the functionality of YNAB 4. Some of the new features like automatic import, faster reconciliation, ease of moving money, and quick budget options are noticeable improvements from YNAB 4. I used YNAB and YNAB 4 side-by-side for about a month and a half in order to answer these questions: Well, here we go. So that gives YNAB 4 a good shot at working through 2018. If I did enter transactions against the “To Be Budgeted” category first, then immediately move the funds to the “budget next month” category, then when the next month rolls around, I move all the funds from “budget next month” back to “To Be Budgeted”. I’m no longer afraid of the mail (bills!!!) I am going to go check out YNAB4 though. it does seem with your workflow, YNAB may not fit your needs compared to YNAB 4. i do hope YNAB 4 continues working for a long time for those that don’t feel YNAB is worth the recurring expense. You think going back to your old ways will solve your problem. YNAB removed the ability to rollover a negative category balance to the next month. Like you I await another player to put an offline app into play once YNAB4 falls off a cliff. Budgeting is not restrictive. – IMO web based software is STOOOPID. The other reason is the aforementioned online security. In that moment, I decided I knew I wouldn’t go any further in credit card debt. I totally get it—getting frustrated to the point where you don’t want to use the program. Now I have to get myself out of the hole, but I have a plan. I am sure there will be a way to do it in YNAB, but it strikes an old time user like me. Before YNAB, I would look at my bank account and see $1,200. This works great if your reimbursements are on a credit card account. In my opinion, it’s better to upgrade sooner rather than later. I’m fully aware of what I’m spending, what my debts are, and how bad I’ve screwed up financially. Pin. $50 per annum per user is a NPV cost paid by a lifetime user of over $1000. But now I look in YNAB and I see categories, I see different aspects of my life. can you recommend any budgeting apps that don’t store data in the cloud? I like to do this because all my income comes in as “To Be Budgeted”, but some of it needs to get allocated to different categories (e.g., “birthday gift” to a “Gifts Received” category). Seriously, a big time saver. I was just too stubborn to adapt my existing budgeting process. You Need a Budget combines easy software with Four Simple Rules to help you quickly gain control of your money, get out of debt, and save more money faster! It does everything most users will need from a budgeting app. Tweet. It is not just HIGHLY overrated, it WORKS AGAINST spending discipline.. My conclusion 2 years on: YNAB 5 is a massively overpriced, fundamentally flawed system which is missing a number of the main requirements for successful budgeting, whereas YNAB 4 is almost perfect in form and function. Tomorrow will be the first day of the Steam Summer Sale.If you are thinking about buying YNAB it might be worth to wait and check the sales these next days since almost everything in their catalogue is heavily discounted and YNAB might as well. This was completely abandoned for age-of-money, a completely pointless concept. All the missing features from the initial launch have been added. Tough call. I love it, and will never switch to YNAB as long as it is a web based subscription service. They’ve replaced the concept of “fully buffered” or living on last month’s paycheck with a pointless concept of age-of-money. Millions and MILLIONS of people’s information exposed by hacks. 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