I already knew everything in this video, but I watched it all the way through because Hannah is fantastically entertaining. I look forward to every Friday for a Hannah video :)
I love the efficiency of digital envelopes - no handwritten accounting of what’s in the envelope, no keeping receipts, no trips to the bank! YNAB is a game changer!
When I recommend YNAB, I tell people it is a (wicked awesome) digital envelope system. Since everyone knows what cash envelopes are, YNAB sounds less intimidating 🙂
Or losing them. I once found a stack of envelopes in a grocery cart that had been pushed back into the stack at the front of the store. It had rent, grocery, and a whole months worth of cash. I left my contact info at the store and found the person, but how terrible would that have been to not have your whole months expenses!?!?!?
Excellent video! We used the envelope budget when we were first married 33 years sgo. The first few years of teaching we got paid once a month. It was easy to budget since we had all the money for the month. Back then I also did once a month grocery shopping. One month I was on my way to the grocery store and made a stop at the drug store first. As I was leaving the store, someone bumped into me. When I got to the store I realized my wallet was gone.... and so was the whole month's grocery money! Needless to say, I quit using envelopes after that!
Something I dont think I heard in the video is about safety. I used to use cash envelopes, but I was always so cautious at the bank when withdrawing so much money. And then I had to go home, count it out, out it in envelopes, and carry those around. When I was at stores I had to take the envelopes out and take out the money, often with other customers nearby. At the beginning of a month it always worried me having so much cash on hand. And it was a hassle to try and only take what I needed, in case it was just not quite enough, or if I forgot to replenish the envelope for the next time I needed it. YNAB is more convenient but I also dont worry about someone seeing me with a stack of cash and trying to take it.
Found this in my recommended. Was reading comments to see if its worth the cost. Considering this requires no reciept keeping or constantly updating, I think its worth a try.
@@MandyLina123 Mandy. I love YNAB. It is a game changer for me. I would suggest with a low income just worry about allocating spending appropriately. After some time, sticking to your budget, you will have extra cash or be budgeting ahead into next month or the month after. Their tech support, although it’s chat based, is great. I just takes time to work though items. Let me know how it works. I think it’s totally worth the $84/year price tag. I have been YNABing for 3 years now. I have eliminated ALL of my credit card debt. My only outstanding debt is the my car and motorcycle. The car will be paid off in 7 months. With time and dedication to the rules, it will be a game changer for you as well.
@@chasallen6798 I feel like I haven't been using it right then since my bills are not always the same month to month. I decided to wait until my large variable spending stabilizes. Thank you :)
@@MandyLina123 I would reach out for tech support and talk about your specific situation. They may be able to help you out and get you going. It’s worth the initial learning curve and time. Now I track all of my spending it takes about an extra 15-30 second to record stuff. I know where all of my pennies are going.
🎉🎉🎉 YES Violet!! Keep coming back to our TH-cam channel to learn more about getting started with YNAB and answering all those questions you may have! -Hannah :)
Raymond, don't worry, don't worry! I got myself a whole new mobile device last month :) When they send em to you they don't even have any cracks! Who knew! -Hannah :)
Wondering, if i do an envelope system with different bank accounts, at the same bank, is YNAB double work? Would like to hear from folks who may be in the same situation. For those using YNAB you have one bank account and all your money is in there. in YNAB that one account's money, shows up divided into where it's allocated.
You would only need to maintain one budget in YNAB (unless you want to have more!), and would just link all of your accounts to that budget. Then YNAB will calculate how mush cash you have across all those accounts and have you assign each dollar to a category. My husband and I do this with our household budget, and our individual spending money budgets now -- super easy and actually fun once you get all the set up out of the way.
It took me about 3 weeks to figure it out, but you just have to link the money coming out and the money coming in so that they account for each other. It was not too hard to learn and really effective for budgeting AND saving.
I still don’t understand how you move the money from one area to another in the app.. Sorry, this is probably a stupid question but I’m brand new to YNAB and getting confused. :(
Not at all! Lots of people get confused going from the desktop app to the mobile, and vice versa. There's a couple of ways -- you can either subtract the amount you want to move from the category, which will move it up to To Be Budgeted (TBB), or you can hit the "Move Money" button. Just select the category you want to move from and you'll see the numpad come up. Hit the "-" and enter the amount of money you want to take out to move if you want to roll it up to TBB. Otherwise, you'll see a greyed-out button at the top of the numpad for "Move Money." This will bring up a screen where you can enter the amount you want to move, and you'll see the "To:" and "From:" categories listed for you to choose from.
I already knew everything in this video, but I watched it all the way through because Hannah is fantastically entertaining. I look forward to every Friday for a Hannah video :)
I love the efficiency of digital envelopes - no handwritten accounting of what’s in the envelope, no keeping receipts, no trips to the bank! YNAB is a game changer!
Plan in Progress -because they’re digilopes! Lol
“Licky Sticky”......literally the best phrase I have heard all year 🤣
When I recommend YNAB, I tell people it is a (wicked awesome) digital envelope system. Since everyone knows what cash envelopes are, YNAB sounds less intimidating 🙂
Another advantage to YNAB: not having to worry about my nephew finding my cash envelopes and helping himself.
Or losing them. I once found a stack of envelopes in a grocery cart that had been pushed back into the stack at the front of the store. It had rent, grocery, and a whole months worth of cash. I left my contact info at the store and found the person, but how terrible would that have been to not have your whole months expenses!?!?!?
Ynab is getting more fun as I get used to it. Your videos add even more fun on top :) Thank you.
Great angle on reviewing/introducing YNAB!
Excellent video! We used the envelope budget when we were first married 33 years sgo. The first few years of teaching we got paid once a month. It was easy to budget since we had all the money for the month. Back then I also did once a month grocery shopping. One month I was on my way to the grocery store and made a stop at the drug store first. As I was leaving the store, someone bumped into me. When I got to the store I realized my wallet was gone.... and so was the whole month's grocery money! Needless to say, I quit using envelopes after that!
😱😱😱😱oh noo that must have been devastating!
Something I dont think I heard in the video is about safety. I used to use cash envelopes, but I was always so cautious at the bank when withdrawing so much money. And then I had to go home, count it out, out it in envelopes, and carry those around. When I was at stores I had to take the envelopes out and take out the money, often with other customers nearby. At the beginning of a month it always worried me having so much cash on hand. And it was a hassle to try and only take what I needed, in case it was just not quite enough, or if I forgot to replenish the envelope for the next time I needed it. YNAB is more convenient but I also dont worry about someone seeing me with a stack of cash and trying to take it.
And you didn't even have to lick 'em! LOL
Love listening to you Hannah
Thanks Jennifer!! Glad to help!
-Hannah :)
Found this in my recommended. Was reading comments to see if its worth the cost. Considering this requires no reciept keeping or constantly updating, I think its worth a try.
I’ve saved WAY more money than the fee. It’s worth EVERY dollar.
@@mtafli1 How do you use it properly? My income so low so unsure how to make it balance.
@@MandyLina123 Mandy. I love YNAB. It is a game changer for me. I would suggest with a low income just worry about allocating spending appropriately. After some time, sticking to your budget, you will have extra cash or be budgeting ahead into next month or the month after. Their tech support, although it’s chat based, is great. I just takes time to work though items. Let me know how it works. I think it’s totally worth the $84/year price tag. I have been YNABing for 3 years now. I have eliminated ALL of my credit card debt. My only outstanding debt is the my car and motorcycle. The car will be paid off in 7 months. With time and dedication to the rules, it will be a game changer for you as well.
@@chasallen6798 I feel like I haven't been using it right then since my bills are not always the same month to month. I decided to wait until my large variable spending stabilizes. Thank you :)
@@MandyLina123 I would reach out for tech support and talk about your specific situation. They may be able to help you out and get you going. It’s worth the initial learning curve and time. Now I track all of my spending it takes about an extra 15-30 second to record stuff. I know where all of my pennies are going.
You're hilarious. I just signed up with YNAB.
🎉🎉🎉 YES Violet!! Keep coming back to our TH-cam channel to learn more about getting started with YNAB and answering all those questions you may have!
-Hannah :)
Love what you guys do here. Well done. Hannah, I love your videos.
I’ll be honest. I have used YNAB for 2 years and did not realize it was actually cash envelopes 🤦🏾♀️
No shame! It took me a long time to trust YNAB and get rid of my extra accounts that I was using as savings buckets.
Every time I see an envelope now I will think "licky sticky" LOL great video as per usual
3.37 - Hannah needs to budget for a new phone screen. 😀 4.43 "Boy houdy you are in for a treat" 😀 Hannah you are the best!
Raymond, don't worry, don't worry! I got myself a whole new mobile device last month :) When they send em to you they don't even have any cracks! Who knew!
-Hannah :)
Excellent video!!!
awesome videos! good work!
“Digilopes”
"......but very different......" 🤣
I actually have cash envelopes for saving some items so I have it on hand.
Hannah, you would totally wear bell bottoms!!
Wondering, if i do an envelope system with different bank accounts, at the same bank, is YNAB double work? Would like to hear from folks who may be in the same situation.
For those using YNAB you have one bank account and all your money is in there. in YNAB that one account's money, shows up divided into where it's allocated.
You would only need to maintain one budget in YNAB (unless you want to have more!), and would just link all of your accounts to that budget. Then YNAB will calculate how mush cash you have across all those accounts and have you assign each dollar to a category. My husband and I do this with our household budget, and our individual spending money budgets now -- super easy and actually fun once you get all the set up out of the way.
It took me about 3 weeks to figure it out, but you just have to link the money coming out and the money coming in so that they account for each other. It was not too hard to learn and really effective for budgeting AND saving.
@@pramwilson thanks. Yeah I downsized my account number and it's minimal now and super easy
I still don’t understand how you move the money from one area to another in the app..
Sorry, this is probably a stupid question but I’m brand new to YNAB and getting confused. :(
Not at all! Lots of people get confused going from the desktop app to the mobile, and vice versa.
There's a couple of ways -- you can either subtract the amount you want to move from the category, which will move it up to To Be Budgeted (TBB), or you can hit the "Move Money" button.
Just select the category you want to move from and you'll see the numpad come up. Hit the "-" and enter the amount of money you want to take out to move if you want to roll it up to TBB. Otherwise, you'll see a greyed-out button at the top of the numpad for "Move Money." This will bring up a screen where you can enter the amount you want to move, and you'll see the "To:" and "From:" categories listed for you to choose from.
Can you actually add emoji's to your digital envelopes?
Ahh, the age old question! Yes, you can!! Check out this link:
docs.youneedabudget.com/article/196-using-emoji-in-your-budget
-Hannah :)
This is was one of the lightest Heard it from Hannah's I've seen. Not a great deal of info.
No, but some people needed to hear this exact message. Many people don't "get it" and this video certainly helps.