11:21 Ernie, I would LOVE a feature on cash accounts. How you use this account, etc. I use a cash binder for my sinking funds and I need to be able to reconcile all of this to stay organized.
Thanks for the idea! If you wanted, you could always pop into one of our Open Q&A workshops and ask the teacher (which is sometimes me) to demo cash accounts www.ynab.com/free-workshops/ ~Ernie
The fact that ynab doesn't alert to over spending in previous months makes no sense to me. Just throws off the whole actual budget of the current month. I believe that should be an added alert.
@@YNABofficial And alerting to extra funds or negative funds in the hidden categories. As of now when I open that category on my app it just shows me the category names, not if there is a balance in them. I have run into that problem before.
This is a fun video. Thanks for doing it. A tip I use for tracking accounts is to use the aggregator Personal Capital. Then I load it in one window and then copy the balances into YNAB. This also fixes the issue for one time pin because the personal capital aggregator stays connected to your spouses account.
Thanks for sharing! Looking forward to the IG tomorrow. My 9 yo just saw that I was watching TH-cam so I got to give him the 30 second explanation of “budgeting” 🤓
I have a cash tracking account, too. I don’t keep very much there, because I hate keeping track of those transactions. But I agree that I like to have cash on hand accounted for in the budget!
I've been binge watching YNAB videos since I signed up 2 weeks and I know I heard you explain it somewhere, but can you remind us why you use a Next Month category instead of assigning the money in the next month? If I recall, it made bookkeeping simpler but I don't remember the details. I get all my money at the end of each month. (so by definition, I already fund a month ahead! except...those few..... underfunded categories in April...) In any case, I'm wondering if I should wait until the 1st of each month to assign the money.
There's no right or wrong way to assign money to next month. I like using the holding category because it allows me to create next month's plan all at once (instead of doing it paycheck by paycheck). I also like see all of my available cash in one month (instead of flipping back and forth). These are really minor things, but it's the way my brain works so I still with it! Give both options a try and see which you prefer! ~Ernie
I do something similar to Ernie but I do it all on the 1st day of the month. I have a task in my calendar ("YNAB Reconciliation day 🥳"), I reconcile all my accounts, ensure my Chase account is up-to-date (no open banking /yet/ from Chase UK), and make sure last month is up-to-date with any pending transactions and category fundings. I have tracking accounts too so part of the joy on the 1st of the month is seeing how my investments have changed and I try not to check the balances more frequently than this! Part way through the month I reconcile my mortgage account when the interest is added (YNAB estimate on interest isn't always a match in the mortgage account). I'm contemplating having a next month funds category after watching the Budget Nerds video about it but can't get my head around not budgeting immediately when my paycheck comes in and also having the extra category in the reports not actually meaning anything. Totally love the linked account reconcile too, I used to reconcile ever couple/few days anyway it just makes it much slicker and I probably do it even more frequently now.
In my 401k I like to manually add employee contributions, employer contributions and market change. Then I reconcile it. I know I can find that info in my 401k accounts. I just like seeing it in my YNAB.
Ernie, I'm a big fan of budget nerddom, but I gotta be honest -- I let everything import from the previous month whenever it wants to, and then I just go back sometime in the first week or so (or even later) to cover any overspending that popped up. 😏 My budget has plenty of room for those types of small surprises, and I personally don't want to spend that time each month for very little benefit (to me). To each his own nerdiness, tho! 🤓💵
Yes, I'm probably in the minority here, and I agree that you can totally have control of your money without the level of attention I give! Glad you brought this up. ~Ernie
If you adding a tracking account, YNAB keeps that money out of your budget so you don't need to create categories for it. Here's more info on tracking accounts support.ynab.com/en_us/account-types-an-overview-BkmGM0qCq#track ~Ernie
I have been using YNAB for years, but never use it for TRACKING Accts. Curious, pros and cons to having them in the overall budget other than seeing a truer Net Worth in the app? Always enjoy hearing yours and Ben's perspective on different approaches to YNAB.
I feel like having them in YNAB does give me a truer Net Worth. The downside is that they take additional time to manage, which I don't mind because I think managing them is actually fun. ~Ernie
I REALLY hate Meta / Facebook. Why would you "continue" this session on another provider and not post the video here, too? oO I can't even access anything on instagram without making an account with them - what I obviously won't do.... 😞
Love these budget videos Ernie!
Appreciate that Avery! Good luck with your new dog 😄~Ernie
This is all nice and good, but why are you not in a bathtub, Ernie?!
🤣🤣🤣 ~Ernie
I input all transactions manually myself to give me something to do every day and to keep me on track!
11:21 Ernie, I would LOVE a feature on cash accounts. How you use this account, etc. I use a cash binder for my sinking funds and I need to be able to reconcile all of this to stay organized.
Thanks for the idea! If you wanted, you could always pop into one of our Open Q&A workshops and ask the teacher (which is sometimes me) to demo cash accounts www.ynab.com/free-workshops/ ~Ernie
Ernie is the best!
Ernie would Ynab to do video on EWA daily payroll and here your thoughts for paycheck to paycheck people until we get a month ahead
The fact that ynab doesn't alert to over spending in previous months makes no sense to me. Just throws off the whole actual budget of the current month. I believe that should be an added alert.
I hear ya-and this is definitely something that comes up when we talk about ways we could make YNAB even better. ~Ernie
@@YNABofficial And alerting to extra funds or negative funds in the hidden categories. As of now when I open that category on my app it just shows me the category names, not if there is a balance in them. I have run into that problem before.
@@YNABofficialbig upvote for that feature, even as an option to turn on/off how previous month positive and negative balances behave going forward.
Lol we overspent our eating out category! But that’s okay we rolled with the punches and have a plan for next month
This is a fun video. Thanks for doing it.
A tip I use for tracking accounts is to use the aggregator Personal Capital. Then I load it in one window and then copy the balances into YNAB.
This also fixes the issue for one time pin because the personal capital aggregator stays connected to your spouses account.
Thanks for sharing! Looking forward to the IG tomorrow. My 9 yo just saw that I was watching TH-cam so I got to give him the 30 second explanation of “budgeting” 🤓
A future budget nerd in the making-I like it! ~Ernie
Ernie without Bert (that's not right, is it?). I still use YNAB4 which I LOVE, LOVE, LOVE!
I have a cash tracking account, too. I don’t keep very much there, because I hate keeping track of those transactions. But I agree that I like to have cash on hand accounted for in the budget!
I've been binge watching YNAB videos since I signed up 2 weeks and I know I heard you explain it somewhere, but can you remind us why you use a Next Month category instead of assigning the money in the next month? If I recall, it made bookkeeping simpler but I don't remember the details. I get all my money at the end of each month. (so by definition, I already fund a month ahead! except...those few..... underfunded categories in April...) In any case, I'm wondering if I should wait until the 1st of each month to assign the money.
There's no right or wrong way to assign money to next month. I like using the holding category because it allows me to create next month's plan all at once (instead of doing it paycheck by paycheck). I also like see all of my available cash in one month (instead of flipping back and forth). These are really minor things, but it's the way my brain works so I still with it! Give both options a try and see which you prefer! ~Ernie
I do something similar to Ernie but I do it all on the 1st day of the month. I have a task in my calendar ("YNAB Reconciliation day 🥳"), I reconcile all my accounts, ensure my Chase account is up-to-date (no open banking /yet/ from Chase UK), and make sure last month is up-to-date with any pending transactions and category fundings. I have tracking accounts too so part of the joy on the 1st of the month is seeing how my investments have changed and I try not to check the balances more frequently than this! Part way through the month I reconcile my mortgage account when the interest is added (YNAB estimate on interest isn't always a match in the mortgage account).
I'm contemplating having a next month funds category after watching the Budget Nerds video about it but can't get my head around not budgeting immediately when my paycheck comes in and also having the extra category in the reports not actually meaning anything.
Totally love the linked account reconcile too, I used to reconcile ever couple/few days anyway it just makes it much slicker and I probably do it even more frequently now.
YNAB Reconciliation Day sounds like the happiest day of the month! ~Ernie
In my 401k I like to manually add employee contributions, employer contributions and market change. Then I reconcile it. I know I can find that info in my 401k accounts. I just like seeing it in my YNAB.
There is something really nice about YNAB being the one-stop-shop for all your finances. ~Ernie
Ernie, I'm a big fan of budget nerddom, but I gotta be honest -- I let everything import from the previous month whenever it wants to, and then I just go back sometime in the first week or so (or even later) to cover any overspending that popped up. 😏 My budget has plenty of room for those types of small surprises, and I personally don't want to spend that time each month for very little benefit (to me). To each his own nerdiness, tho! 🤓💵
Yes, I'm probably in the minority here, and I agree that you can totally have control of your money without the level of attention I give! Glad you brought this up. ~Ernie
How do you add Tracking categories?
If you adding a tracking account, YNAB keeps that money out of your budget so you don't need to create categories for it. Here's more info on tracking accounts support.ynab.com/en_us/account-types-an-overview-BkmGM0qCq#track ~Ernie
I thought my speakers were broken for 20 seconds....
I have been using YNAB for years, but never use it for TRACKING Accts. Curious, pros and cons to having them in the overall budget other than seeing a truer Net Worth in the app?
Always enjoy hearing yours and Ben's perspective on different approaches to YNAB.
I feel like having them in YNAB does give me a truer Net Worth. The downside is that they take additional time to manage, which I don't mind because I think managing them is actually fun. ~Ernie
I REALLY hate Meta / Facebook. Why would you "continue" this session on another provider and not post the video here, too? oO I can't even access anything on instagram without making an account with them - what I obviously won't do.... 😞
You could check out the May session I did on TH-cam th-cam.com/users/liveAAAgGHPlC3k?si=hUZfaE2290uJuqpg ~Ernie
I had $12 in my fun money on my low spend month. 😂
It's better than nothing! ~Ernie