Ok, I bought YNAB last night. So far, setting it up has been as easy as promised. I had created Daily spending Plan (basically a cash flow spreadsheet) for us, which we've used for several years. It's kept us honest, and since each month gets it's own sheet in the workbook, it lets us see what a major purchase NOW will do to us several months from now.Keeping us on budget is a good thing, but we're not building much for the future. THe Daily Spending Plan has been good, but has it's limits.So, YNAB. Hopefully, it'll keep us on track even better - with the DSP, there was a line item for savings, but if we overspent somewhere else, it was just too easy to zero out the savings to make up for it. With YNAB, it seems like that will be a much more conscious decision, and maybe will keep us from deciding to overspend.Wish me luck!
I find that YNAB is working quite well for me. I started last year.One thing that helps keep me honest is that I have my monthly "savings" amount transferred on the 1st of the month... that way in order to "zero" the column I have to actually go and transfer the money out of savings.Granted I am not exactly a model of budgeting and money management prowess, but without I have no doubt that I'd be in over my head by now, vs. still breathing and above water :)
Excellent to read that you've found a new technique to protect your savings. ( I tend to take a look at interest as 'free money' and enjoy receiving it: that's a trick that worked better in my youth, when savings earned noticeable interest)YeilB
I tend to take a look at interest as 'free money' and enjoy receiving it: that's a trick that worked better in my youth, when savings earned noticeable interestMy own trick is to treat things like dividends, interest and rental income as only being spendable on the same type of investment, i.e. I can use dividends to buy more shares but I can't use them to buy dinner. Surplus-to-expenses rental income has its own savings account, away from the rental property account. Any bank interest received goes towards whatever is the purpose of that bank account, so interest received by the car repairs/insurance fund becomes part of the fund.This sort of quarantine helps me save up for the next item, since I don't view it as my money-to-spend. My only money-to-spend comes from my salary.- Pam
I have been using YNAB for about a year. I struggle with keeping within my spending limits because of a junk food addiction. However, since starting it, I have been able to invest monthly which is something I've never been able to do in the past. I'm not yet where I want to be budget wise, but I'm no where near where I used to be. It sounds like you're already in a better position with more experience in budgeting money. Good luck with it.
I am interested in hearing more about YNAB. I am currently searching for an effective method of budgeting and am still skeptical about paying for budgeting software. I noticed that online budget software such as Mint, BudgetSimple, Power Wallet, and others are free and I can track all my expenses through my browser. Do you think YNAB offers better features than these online solutions? Any thoughts are appreciated-Steve
I love YNAB. Mint creeped me out. Didn't like giving them access to all my accounts, didn't like the way it categorized stuff, and it was great at telling me how I'd spent my money but not good at helping me figure out how to plan.But YNAB is not for everyone. It's different, and there's a learning curve. There it's also lots of help, videos, write ups, free webinars and active forums. You can use it for free for 34 days (and there have been times when they have extended trials). It's really just envelope budgeting with virtual envelopes. But it requires a little more input from you on a regular basis than the other methods.Ishtar(you can also get a 10% discount by getting a link from someone who already owns the program)
I've been using GoodBudget, which also uses the envelope method, but is free.- Megan
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