OOOOOH MY GOSH!!! THEEEE Hannah said my name!! 🤩 I hadn't watched a YNAB video in a while but love to hear other people's tips! So, imagine my surprise when I heard my name and tip! 😍😎😄 Thanks!
Not quite the same, but the YNAB sub on Reddit is FULL of awesome tips and tricks from other users. Highly recommend poking through it, even if you don't use reddit (just goto reddit.com/r/ynab)
I use an [A] at the end of the category title/due date when it’s paid with an automatic payment. That way I know which budgeted items are scheduled, auto drafted, imported and linked.
I'm adopting this one! I recently set up autopay for almost everything because I'm doing some traveling and I like the idea of a visual reminder. Thanks!
I love the idea of moving the fixed expenses to the bottom! Scheduled transactions are great for remembering birthdays and funding the appropriate gifts category.
TIP: For my credit card account names/labels, I include the last four digits of the card. When looking at receipts they don’t state the type of card. Having the last four digits visible in YNAB makes it a snap to know which card I used!
I am 51 years old and just started using YNAB a month ago....this is by far the best budgeting software out there and it's actually.... dare I say it......fun! My husband patiently listens to all my nerdy accounts of what I have learned, what new categories I made for us. LOL But honestly even though I thought we were good with our finances before this has been a game changer. I have not seen any other program that does what YNAB does. Love it!!
Shawna, that is incredible!! I totally agree, YNAB *is* fun! Sounds like you and your husband are a great team and only getting better!! We're here for it 🥰 -Hannah :)
Besides scheduling to dos in YNAB….I also use it to track my menstrual cycle. Scheduled zero dollar transaction of “🔪” every four weeks. I realized I had a menstrual tracking app that I never look at because it only does one thing (count down 28 days). Since I look at my budget more often, it’s easy to track.
Hey Hannah! Thanks so much for creating such fun and helpful budgeting content. Whenever I share YNAB with my friends, I’ll usually send them one of your videos!! 🤗 I had some ideas for topics that me (and others) might find helpful: 1. car series? 🚗 - the ynab blog i’ve noticed has some great content for car ownership that would be wonderful to have someone explain logistically in ynab. - buying/selling a car: logistics, costs, what to look for in a new car based on your situation - what if you’re working hard towards a debt pay down or working towards FIRE? how would that affect someone who has an old clunky car that’s burning thru their true expense maintenance category? 2. FIRE movement in general? 🔥 - Jesse talks in some of the podcast episodes and investing series on explaining it and the different strategies (your side hustle video was great!) 3. meal planning/grocery savings 🛒 4. deep work 🏋🏻♀️ - i recently read this book based off of ynab’s recommendation and it would be cool to hear how that relates to budgeting. The rules of time management he describes relates almost perfectly with YNAB’s rules for money management. 5. the life changing magic of tidying up/minimalism 🧘🏻♀️ and how that may help someone simplify their life and budget. 6. should you make a new budget every year or keep the same one? you can get rid of those hidden categories instead of them just piling up, but by using the same budget year after year, you get a better idea of your net worth over time and can look at your trends in spending? this has been my first year using YNAB and i’m wondering what to do come january ❄️. Also, what about different seasons of life...starting a new budget when you get married or when a new baby arrives? 7. just a quick question in general - why can’t we reconcile on the mobile app? thanks so much for taking the time to read these and i’m looking forward to all the other great videos you will make! I hope you have a lovely thanksgiving! 🦃🙏🏻😊
Love this! Your videos along with Nick True’s (Mapped Out Money) have been super helpful for me as I’ve gotten started with YNAB. I started about a month ago, and the real-life examples of how different people use YNAB for different lifestyles & budgeting needs has been really useful. I got even more excited about YNAB once I learned that you can have 2 separate budgets within the same YNAB account. I have a small business (just me, doing some freelance work, professional speaking & a few online income streams), so separating my business budget from my personal budget was when everything really started clicking for me. With so many people freelancing these days & running micro-businesses, maybe more videos on this topic would be helpful for others?
Mallory, that's amazing! I love that idea! I'll definitely add that to my list for 2021. Being able to run multiple budgets under the same account is so helpful, but we could definitely put more tips out there as to how to use YNAB for a small business. Thanks for the suggestion! -Hannah :)
We have a number of “untouchable“ categories, like “dream vacation“, “Furnace replacement”, “Emergency cash” or the all important “unforeseen“ category. We have created a master category for them called “out of sight“. We keep this master category hidden (which automatically hides all the subcategories). Each month when we put a little bit in each category, we simply unhide the master category to fund the subcategories and then immediately behind it re-hide it.
Here's a tip I use: I set up a category group for each savings account. Then I give a category to each thing I'm saving for in that savings account. For example, I may be putting money away in a savings account for both a vacation and a new car so each gets its own category in that group. I did this because, while I would remember to fund those categories, I would sometimes forget to move the money over from my checking account to my savings accounts. Now all I have to do is check the total available in my savings category groups and match that amount with what is in my savings accounts. If they don't match, I know I forget to move the money!
Same! This has helped tremendously! I created several savings categories--e.g., In Savings Account - Emergency Funds (EF--car, EF--health, EF--travel); In Savings Account - Quality of Life Goals (Svgs--Christmas, Svgs--Vacation, Svgs--Next Phone, Svgs--YNAB renewal). :)
I don't worry about which real life accounts the money is in...just where the funds are allocated, so long as rhere are sufficient funds in checking to cover expenses.
I hasn't really used memos before this video, but I've started using hashtags now which is super helpful! One thing I started doing in that spirit is adding the order number from e-commerce purchases to my memo line when I add the transaction. Especially with Amazon, it's super helpful for tracking purchases down!
My husband and I both freelance for a living, so our income is very (very very very) irregular. In the Notes section of each month, I make a list of what checks/payments we're expecting for the next month, so I can keep track a little easier. Another great tip I learned from a video of a fellow ynab user is to make a category called "Money earned this month for next month." As the checks come in throughout the month, I add them to this category, then zero it out at the end of the month and it's there to be budgeted the following month. (For some reason, this has worked better for us than budgeting ahead.) Win!
I set up text alerts for every time I spend money with my cards. At the end of the day, I just go through my texts and enter my transactions! That way I don’t have to enter them on the spot.
I like this. I also had the immediate inspiration with fixed and flexible categories to not only stick the fixed ones at the bottom, but also add more emojis: a rock or mountain for the fixed ones, and a slinky spring or something to the flexible ones. Will do that tonight when I turn on my budget. I'm listening to you in the background while I'm working...
I changed my budget main categories to the "casual" names of Fixed and Flex, moved the fixed to the bottom, and put the due dates in the titles. It made it easier and more intuitive to use. Great tips. Thanks. I also sorted my Flex categories by the amount I historically use in those categories so the ones I use the most are toward the top. I exported the Income and Expense report to Excel and did a quick sort of the Average column. Then used that to move things higher in the list that I used more. It really surprised me that I needed to put Kids Activities above the Personal Care(clothes,make up, hygiene, etc) AND Fuel/Tolls. As I've mentioned before, exporting the I&E report helps with forecasting for next months / year also. AND, I think it's comical that you look around for others reactions ("does anyone remember what the Harlem shake was") when your probably recording these in your office at home by yourself. Caught ya! LOL
LOL. Rick, I am totally recording these in my office at home by myself 😂 You got me good. Can't help but check for those hypothetical reactions, though 😉 -Hannah 🌻
The most helpful thing that my wife & I did for our budget is to determine a fixed amount for each of us that represents our personal expenses. These two categories cover all spending for hers and my personal, discretionary expenses. (I.e. her hair styling, clothing, personal care products, etc. My clothes, ammo, fishing stuff, hair cut, etc.). That way we don't have to be so granular and try to put every personal expense into a category. It's just her personal expenses and my personal expenses. Really made things a lot simpler and we don't need to justify anything we chose to pay for out of our own personal funds.
Here's a YNAB tip - if you have a bunch of accounts and transfer money between them (like when you reconcile credit card payments), this idea helped me a lot. Name the accounts using the format "x1234 S Bank". The "x1234" part is an x followed by the last four digits of the account number. "S" is the first initial of the person (like you or your partner). "Bank" is the bank name or account type (checking, savings, credit). Then when you're working on a transfer and picking accounts numbers from the list, you will always pick the right one.
Love these kinds of videos totaly! And I'd like to share some life-hacks on grocery... not so YNAB App related but helpful to get a feeling for grocery, which helps to stay on track with the budget... I always prepare my grocery shopping with a list of all the things I plan to buy... and give every thing a number what it probably will cost (only integers) So I can sum them up before I go and can prioritize my list at home and not in the supermarket where everything is shouting at me "buy me, buy me!"... How do I know the aproximate prizes?! Feeling mixed with experience AND (here comes the hack): Because when I'm done with shopping, I put all my grocery stuff on the table and write the exact prize on it from the bill (yes that takes a while, but its worth it)... this helps me to get a better feeling for what things cost and - and this is a great AND - it gives me also a better feeling if I realy want to eat that one special thing all at once mindlessly or if it has more value and I like to enjoy it with more consciousness... and another AND... I can easier see if things where getting more expensive than last time, so I can think of to buy a cheaper version of this product instead... And another hack... on saving money with groceries... I also write on each thing the date when I opened it (very helpful for milk, juice... that's where I started it)... I do it with everything... so I know, which of my open groceries need to be eaten first... and so I waste much less and open much less things at the same time... Hope that is helpful for other loveley YNABers too! With greetings from Germany.
Ooookay. Those are brilliant hacks. Writing things down, having to process them again, is SO good for our memory and getting familiar with information we want to have stick. I love that. That could also easily translate into a grocery price book, where you keep a running log of all your favorite groceries and how much they cost! And writing the dates is so simply brilliant and I have no idea why I've never thought of that before 😂 I'm also terrified of drinking expired milk or half and half, and writing the date on it is literally the easier hack! Thanks for sharing!! 🌻 Hannah
YNAB pro tip - I put an abbreviation at the end of each budget item that tells me which bank account, or credit card, will be charged for purchase(s) in that category (ie - Monthly spa membership is charged on my Capital One Credit Card = Spa membership - COCC...$$)
Absolutely loved this video! I’m going in right now and moving my fixed expenses to the boo-tay of my budget too!!! I also love the flag idea to separate my husband’s expenses from mine. Hannah, your delivery style and sense of humor make a dry subject like budgeting really entertaining. Thank you!!
Aren't these tips awesome?! Things I never would've thought of on my own! And THANK you. I only do things if they're fun, so we had to make budgeting a can't-miss event :) 🌻 Hannah
I split fixed into "regular" and "irregular", the totals help understand the monthly bills vs "surprise" bills, and if cash is tight you can borrow from a far off bill
Instead of the color flag, I put the name of the car (example Prius) then the description at the start of the memo field. Just do a search in the memo field to get the same result. The problem with flags is that it is not possible to assign a name to the color. I'm not using it and that's a shame. Hashtags are better than flags!
If you want, you CAN assign names to the flags. Just flag the transaction, click on the flag, click on "edit flag names," click on the color and assign whatever name you want. It's great for people who like to color code and it certainly is more visual at a glance, but any system that sorts transactions the way you need them, like yours, also works.
@@marilynstein7694 Available if you use the YNAB extension. But i don't use it and don't want to use it. I hope that YNAB will provide the best ideas of this extension.
@@JF_France You're right. I sometimes forget which features are from the toolkit. I certainly don't use all of them, but I have found several to be quite helpful. The toolkit is so well integrated that you can't tell it's there.
I love this! Perfect thing for me to listen/process while I'm clearing house! Lots of them, I need to look at the screen and focus, but these are so helpful and more general! Thank youuuu!
Love your videos! Your goofiness keeps budgeting fun. I am in love with YNAB! Only thing I would love to see on the app & web is a little notes section for the month. A place to put goal reminders. Like things I want or need to save for, but I’m not ready to put them in a category yet... or reminders a new Bill starts next month... or whatever. A place to put encouraging mantras or your why you are saving.
Excellent idea for regular videos. That will make it easier for Hannah to come up with content ideas for videos (we want her to keep making videos :) )
I have a Fixed Category with two sub categories in it. First sub Monthly Bills which has everything I pay with a check, debit card or is taken directly from my checking account. Second sub is Credit Card which has the three monthly bills that are placed on my credit card. That way when one is due I am reminded to put it to my Credit Card instead of placing it on my checking account.
This is a great tip round up! Sometimes I don't see all the comments if it's from a video topic that doesn't apply to my personal budget, but this is giving me some new ideas!
Nice video! A nice suggestion would be to have autosuggestions for hashtags when searching. So, for example, when I type the hash sign, YNAB would suggest hashtags that I have already used in memo. The same can be done in the "memo" field, when adding a new expense 😬
I divide fixed category into monthly obligations and yearly obligations, yearly obligations are broke down into monthly figure, I just copy last month budget, and budgeting is done in 1 secs, ofc with set goal during first setup. it serve as reminder for payment as well especially for yearly obligations.
One thing I do that makes credit cards sooooo much easier for me: I don't use the "credit card" account type. I just use "checking" and let those accounts go negative. For example, I've spent $120 on one of my credit cards, so it's sitting at -$120 and then when I pay it, I'll just transfer money from my bank account to that card and it will be at $0.
I like to make sections based on the bank account the money lives in. Helps me know what section to go to and enter transactions based on the account. It also helps see all your accounts in one place and reconcile them.
Loved this video! A-because Hannah makes budgeting videos fun and entertaining. B-because those were really handy tips. (sidenote: I definitely check out my budget more than five times a day!!! I'm not sure what I think will have changed from the previous hour, lol, but I think it's more that I'm so proud of my ever-evolving YNAB budget lol!!!)
Can we create a #hashtag or something in the comments or social media so all YNABers can share info and make it easier for you to create these videos? I have some fun tips too but I don’t wanna drop them in a random comment section. ( suggestion: #YNABTips )
Hey there! That's a really great idea. I may throw that idea out at the end of some future videos! It'd sure be awesome to be able to quickly pull up a bunch of YNAB tips from users all over on different social media platforms. Thanks for the tip!! -Hannah :)
I am so flattered you replied! I’ve now chatted with a celebrity! So now I’m a kinda celebrity too! 😎 seriously, we’re big Dave Ramsey fans (I’d say he saved my life) but it was hard to maintain our system. YNAB is easy and lets us steer spending instead of looking at it in the rear view mirror. Very cool. Thanks so much!
I've been using YNAB since about 2005, and although I see these videos and think they don't apply to me as I'm quite au fait with how YNAB works - oh how wrong I was - learnt quite a lot from this video alone. Plus its presented in a fun interesting way, so I didn't get bored and more on yo another TH-cam account
Tip: Set up reoccurring payments for all your fixed categories. This will show as scheduled when you check the account, so you have a handy overview without forgetting.
For the round 2 video. From your video on budgeting a month ahead. Since September 2020 I’ve taken $750 from each household pay cheque and budgeted February 2021. When I get to January 2021 it will mostly be funded and I can jump to funding March 2021. Furthermore, once February 2021 is done I can start funding February 2022 at a much lower amount (likely $250 each pay). I will need to budget $1 in each month in order to see that far into the future and I pick February cause, duh, it’s the shortest month and easiest to fund in our house. But this is an easy way to get ahead and what does it matter how long it takes? It’s not a race, right??! Love your videos Hannah!
Huh! Steph, that's a fascinating idea! I've never heard of picking a random future month to fund, but what a joy and surprise that'll be when you get to February and already have it taken care of! Not to mention that money is very much out of sight out of mind! Cool idea. Just reconcile often! You wanna frequently make sure each dollar is accounted for. Fascinating idea! -Hannah :)
Would love to hear how people handle items due for “first of the month” ... Do you budget for them as “$500 by end of previous month” or do you budget into the next month? Like do you flip from November and drop that $500 into the December category? I see benefits each way, but since I’m only 1 month into this YNAB adventure would love to hear from those with experience.
You can certainly do either but I just jump to the next month and drop the money there. It’s more intuitive for me personally (it happens then, so that’s where it goes, if you get my drift), plus I love the feeling of budgeting in the future.
Same - I drop it into next month. Plus, the 1st is likely your rent or mortgage, the most important expense! So my goal with that is always to be a full month ahead, so that in case of an emergency, my housing is never a concern. So my two September checks fund the November 1 mortgage payment, October funds December 1, etc. Even if I fall behind a bit on staying a month ahead on other expense categories, the mortgage has always been a non-negotiable to keep it funded ahead of time.
For me I have to put it in the current month or I won't remember to do it! So I change them to be due at the end of the current month. Not the most accurate representation of my expenses but it helps me stay prepared
Thanks everyone! Yeah... I think I will get used to it "disappearing" into the next month, so I'm going to keep doing it that way... after all, that is where we want to end up anyway, right? Right now I'm doing a lot of flipping back and forth to make sure it is still there.
Hannah! I like this kind of video, and I like all your videos! Your content is great, so whatever ideas you have for videos (whether used or not), just keep it up! In my book you get TH-camr of 2020 award. 😂👌
Question- is there a way to condense the info from the videos into a readable format? Hanna, you're lovely on camera and I'm not hatin' on your awesome videos in ANY way, but I'm a 'get to the point' kind of gal and I'd like to be able to get the content without the cutesy stuff. Because text can be really difficult to convey messages, again, your videos are great, and I LOVE the content, I would just love to have a 'top tips' or something similar to go along with these videos.
Aleta, I just accidently found out that if you DoubleClick on the little line that advances the videos, it shows you "chapters". Each chapter in this case is a link to each Tip! This isn't exactly what you were looking for, but pretty cool.
The difference between hashtags and a user defined list of tags is that with a user defined list the list items you entered become a pick list or drop down and you can ONLY select from those predefined options. Unlike hashtags where you have to remember what hashtags you are using and exactly how you phrased or spelled them (vacation vs vacations vs vacay vs Beach trip, etc.), not to mention type them in every time... If you need a tag you don't have in your available tags list, go to your list setup and add another one, then it's available to select. Let the app do the memory work for us. GREAT ENHANCEMENT 👍SUGGESTION!! 👍
@@kteveler Yeah, this is what the app should do. The mechanism for creating tags could be just like adding payees-- start typing, and the ones you've previously used will show up or you can create a new one. It'd be really ergonomic.
Generally for search. #airfare is more unique than "airfare" (and also no English words start with a # lol) so you'll be less likely to find non-relevant items when searching for it.
I am really enjoying my 1st month with YNAB. Thank you for all the videos. If you still need a piano, contact me via your fellow employee with the same last name! If not, where can I find the piano journey videos?
Jason, so glad you're enjoying it!! I *finally* got my keyboard-went with the Yamaha P-125 via another YNABers suggestion! No journey to follow just yet, but I'll hopefully crack into that project over the holidays! I'm eager to get rolling! -Hannah :)
YNAB Pro tip: Making different categories for long term and short term savings. It helps a lot. I also have the credit cards that are due the soonest/need to be paid off first near the top.
Thanks a bunch for your video's! Do you have any suggestions on how to set up your bank accounts while using YNAB? Example: one checking account and one savings or several savings accounts and one checking... or something better that I don't know about!
Honestly Brian, I only have four accounts, which feels like a lot to me 😂 I have checking, savings, emergency, and house (saving up for my first!). Honestly, the last three accounts could really all be one big savings account because YNAB truly does alllll the sorting and labelling of those dollars for me. Only reason I started a separate "house" account was at my bank was menta-I really wanted to have an account where I could see the total rising, keep that money out of sight, feel a little extra ownership of it, and only transfer dollars *in* and never *out*. The plan with the emergency account is to hit my financial goal and then just kinda leave it as a safety net-no money in, no money out. BUT, as I said, the beauty of YNAB is it makes it so that you DON'T need more than one or two bank accounts. It's all personal preference!! Of course you can always look into HYS accounts and what not, but that's currently above my pay grade 😂 -Hannah :)
@@YNABofficial Haha! I definitely understand. I was thinking “the less the better” for me. Then I can keep track of everything on YNAB and I won’t have to do everything again in my bank accounts. Thanks for your response. I’m really enjoying YNAB so far!
Love the idea with the hashtags! I should use that and maybe even retroactively categorize expenses for 2020. Also I need to restructure my budget with the Fixed vs Flexi categories, that's actually an amazing idea! The only issue I have with that is that I have some fixed expenses that become flexi due to exchange rate fluctuations. Maybe I can put them in their own group which is above the other fixed categories. 🤔
I not only have my credit cards set up to notify me when there’s a transaction over a penny, but my husband’s as well! If you have a spouse who isn’t great about logging transactions, I highly recommend doing this! I also really love Walmart Pay. I buy most of our groceries at our local Marketplace and Walmart Pay keeps the receipts and even shows me images of wha I bought. I would love it if I could have this for every purchase made everywhere! (Can you make that happen? Am I asking too much?)
Target does this too with their app! Makes it so easy to do returns when the receipt is in the app. You can load your Target debit or credit card, as well as access coupons right through the app. And arrange for pick up or curbside delivery. I heart it.
@@heatherj.7283 I knew the receipts were separated, but I didn't know about the app. Unfortunately, Target left my town a while back and the closest one is a 30 minute drive away. However, we shop at Target when we go to the beach, so I'll download the app! Thanks!
I also love this about Target! Returns are a snap. And I just took advantage of a free 6-month Shipt membership, so now I'm loving Target even more! -Hannah :)
Hey there! The "payee" is simply the other party (store, person, business) involved in the transaction. If my mom gave me a birthday check for $25, I would put "Mom" (or the bank I cashed the check at) as the payee and mark it as a $25 inflow. If I pay my water company $75 for this month's water bill, I'll put the water company as the payee and mark it as a $75 outflow. Just asking yourself: "Who am I paying? Or who's paying me?" And that's your payee!! -Hannah 🌻
I have achieved internet immortality and I didn't even have to budget for it. Thanks for the shout out and yes, it is short for Professor.
Prof YNAB
HA! We're so glad you threw out the idea!! Professor of??
-Hannah :)
OOOOOH MY GOSH!!! THEEEE Hannah said my name!! 🤩 I hadn't watched a YNAB video in a while but love to hear other people's tips! So, imagine my surprise when I heard my name and tip! 😍😎😄 Thanks!
Girl, you crushed it!! I thought your tip was brilliant! You're basically making sub categories within a category. Hacking the system! 😂
-Hannah :)
Oh this is clever. I totally think this should be an ongoing series.
Not quite the same, but the YNAB sub on Reddit is FULL of awesome tips and tricks from other users. Highly recommend poking through it, even if you don't use reddit (just goto reddit.com/r/ynab)
I use an [A] at the end of the category title/due date when it’s paid with an automatic payment. That way I know which budgeted items are scheduled, auto drafted, imported and linked.
Love this idea. I now include "POS", "ACH","TXFR" to indicate payment method
@Larry, I am not familiar w/your acronyms except 'POS' 🤣
I'm adopting this one! I recently set up autopay for almost everything because I'm doing some traveling and I like the idea of a visual reminder. Thanks!
I love the idea of moving the fixed expenses to the bottom! Scheduled transactions are great for remembering birthdays and funding the appropriate gifts category.
Yes, would love to see Round 2 of tips and tricks from YNAB users! Thank you for making this video.
TIP: For my credit card account names/labels, I include the last four digits of the card. When looking at receipts they don’t state the type of card. Having the last four digits visible in YNAB makes it a snap to know which card I used!
Smart tip, Joanna!! Love that! Very smart for organization and bookkeeping.
-Hannah :)
Such a good tip!
We do that too! Game changer.
LOVE all the videos with Hanna on YNAB!!!!!! She ROCKS!!!!!!
I am 51 years old and just started using YNAB a month ago....this is by far the best budgeting software out there and it's actually....
dare I say it......fun! My husband patiently listens to all my nerdy accounts of what I have learned, what new categories I made for us. LOL But honestly even though I thought we were good with our finances before this has been a game changer. I have not seen any other program that does what YNAB does. Love it!!
Shawna, that is incredible!! I totally agree, YNAB *is* fun! Sounds like you and your husband are a great team and only getting better!! We're here for it 🥰
-Hannah :)
Same here @Shawna! I geek out over this!
Besides scheduling to dos in YNAB….I also use it to track my menstrual cycle. Scheduled zero dollar transaction of “🔪” every four weeks. I realized I had a menstrual tracking app that I never look at because it only does one thing (count down 28 days). Since I look at my budget more often, it’s easy to track.
Niiiiiiiice 😂 Why not if you're opening YNAB a few times a day anyway?! Love it!
🌻 Hannah
The real question is, do you have a corresponding budget category with an extra allowance for chocolate? 😁
Hey Hannah!
Thanks so much for creating such fun and helpful budgeting content. Whenever I share YNAB with my friends, I’ll usually send them one of your videos!! 🤗
I had some ideas for topics that me (and others) might find helpful:
1. car series? 🚗
- the ynab blog i’ve noticed has some great content for car ownership that would be wonderful to have someone explain logistically in ynab.
- buying/selling a car: logistics, costs, what to look for in a new car based on your situation
- what if you’re working hard towards a debt pay down or working towards FIRE? how would that affect someone who has an old clunky car that’s burning thru their true expense maintenance category?
2. FIRE movement in general? 🔥
- Jesse talks in some of the podcast episodes and investing series on explaining it and the different strategies (your side hustle video was great!)
3. meal planning/grocery savings 🛒
4. deep work 🏋🏻♀️
- i recently read this book based off of ynab’s recommendation and it would be cool to hear how that relates to budgeting. The rules of time management he describes relates almost perfectly with YNAB’s rules for money management.
5. the life changing magic of tidying up/minimalism 🧘🏻♀️ and how that may help someone simplify their life and budget.
6. should you make a new budget every year or keep the same one? you can get rid of those hidden categories instead of them just piling up, but by using the same budget year after year, you get a better idea of your net worth over time and can look at your trends in spending? this has been my first year using YNAB and i’m wondering what to do come january ❄️. Also, what about different seasons of life...starting a new budget when you get married or when a new baby arrives?
7. just a quick question in general - why can’t we reconcile on the mobile app?
thanks so much for taking the time to read these and i’m looking forward to all the other great videos you will make! I hope you have a lovely thanksgiving! 🦃🙏🏻😊
Love this! Your videos along with Nick True’s (Mapped Out Money) have been super helpful for me as I’ve gotten started with YNAB. I started about a month ago, and the real-life examples of how different people use YNAB for different lifestyles & budgeting needs has been really useful. I got even more excited about YNAB once I learned that you can have 2 separate budgets within the same YNAB account. I have a small business (just me, doing some freelance work, professional speaking & a few online income streams), so separating my business budget from my personal budget was when everything really started clicking for me. With so many people freelancing these days & running micro-businesses, maybe more videos on this topic would be helpful for others?
Mallory, that's amazing! I love that idea! I'll definitely add that to my list for 2021. Being able to run multiple budgets under the same account is so helpful, but we could definitely put more tips out there as to how to use YNAB for a small business. Thanks for the suggestion!
-Hannah :)
We have a number of “untouchable“ categories, like “dream vacation“, “Furnace replacement”, “Emergency cash” or the all important “unforeseen“ category. We have created a master category for them called “out of sight“. We keep this master category hidden (which automatically hides all the subcategories). Each month when we put a little bit in each category, we simply unhide the master category to fund the subcategories and then immediately behind it re-hide it.
Here's a tip I use: I set up a category group for each savings account. Then I give a category to each thing I'm saving for in that savings account. For example, I may be putting money away in a savings account for both a vacation and a new car so each gets its own category in that group. I did this because, while I would remember to fund those categories, I would sometimes forget to move the money over from my checking account to my savings accounts. Now all I have to do is check the total available in my savings category groups and match that amount with what is in my savings accounts. If they don't match, I know I forget to move the money!
Same! This has helped tremendously! I created several savings categories--e.g., In Savings Account - Emergency Funds (EF--car, EF--health, EF--travel); In Savings Account - Quality of Life Goals (Svgs--Christmas, Svgs--Vacation, Svgs--Next Phone, Svgs--YNAB renewal). :)
I don't worry about which real life accounts the money is in...just where the funds are allocated, so long as rhere are sufficient funds in checking to cover expenses.
This video is super helpful! Thanks for being awesome! Love the commentary!
I hasn't really used memos before this video, but I've started using hashtags now which is super helpful! One thing I started doing in that spirit is adding the order number from e-commerce purchases to my memo line when I add the transaction. Especially with Amazon, it's super helpful for tracking purchases down!
My husband and I both freelance for a living, so our income is very (very very very) irregular. In the Notes section of each month, I make a list of what checks/payments we're expecting for the next month, so I can keep track a little easier. Another great tip I learned from a video of a fellow ynab user is to make a category called "Money earned this month for next month." As the checks come in throughout the month, I add them to this category, then zero it out at the end of the month and it's there to be budgeted the following month. (For some reason, this has worked better for us than budgeting ahead.) Win!
I set up text alerts for every time I spend money with my cards. At the end of the day, I just go through my texts and enter my transactions! That way I don’t have to enter them on the spot.
I like this. I also had the immediate inspiration with fixed and flexible categories to not only stick the fixed ones at the bottom, but also add more emojis: a rock or mountain for the fixed ones, and a slinky spring or something to the flexible ones. Will do that tonight when I turn on my budget.
I'm listening to you in the background while I'm working...
"Booty of my budget" 🤣
Truly enjoyed it. Learned new hacks and methods... Should do this format quarterly!
Sharing peoples’ tips is great! Would love to see more of these.
I changed my budget main categories to the "casual" names of Fixed and Flex, moved the fixed to the bottom, and put the due dates in the titles. It made it easier and more intuitive to use. Great tips. Thanks. I also sorted my Flex categories by the amount I historically use in those categories so the ones I use the most are toward the top. I exported the Income and Expense report to Excel and did a quick sort of the Average column. Then used that to move things higher in the list that I used more. It really surprised me that I needed to put Kids Activities above the Personal Care(clothes,make up, hygiene, etc) AND Fuel/Tolls. As I've mentioned before, exporting the I&E report helps with forecasting for next months / year also.
AND, I think it's comical that you look around for others reactions ("does anyone remember what the Harlem shake was") when your probably recording these in your office at home by yourself. Caught ya! LOL
LOL. Rick, I am totally recording these in my office at home by myself 😂 You got me good. Can't help but check for those hypothetical reactions, though 😉
-Hannah 🌻
That hashtag idea is great. It will help me a lot when it comes time to organize expenses for taxes. Boom.
Hannah, you bring me so much joy as I watch... whilst cleaning the kitchen and drinking coffee. Keep these coming, please!
🥰 Wow, I am so encouraged!! And my videos are long enough that you can really make that kitchen sparkle with all the time you have 😂
-Hannah :)
This is really great. Now I need to go rearrange my categories; nerd heaven.
The most helpful thing that my wife & I did for our budget is to determine a fixed amount for each of us that represents our personal expenses. These two categories cover all spending for hers and my personal, discretionary expenses. (I.e. her hair styling, clothing, personal care products, etc. My clothes, ammo, fishing stuff, hair cut, etc.). That way we don't have to be so granular and try to put every personal expense into a category. It's just her personal expenses and my personal expenses. Really made things a lot simpler and we don't need to justify anything we chose to pay for out of our own personal funds.
Hannah, great job! Please make a video explaining why different months might have different TBB numbers.
Here's a YNAB tip - if you have a bunch of accounts and transfer money between them (like when you reconcile credit card payments), this idea helped me a lot. Name the accounts using the format "x1234 S Bank". The "x1234" part is an x followed by the last four digits of the account number. "S" is the first initial of the person (like you or your partner). "Bank" is the bank name or account type (checking, savings, credit). Then when you're working on a transfer and picking accounts numbers from the list, you will always pick the right one.
That is a fine tuned system right there! Thanks for sharing, Scott! Great for making transactions super "search-friendly"!
-Hannah 🌻
The idea of changing the order of categories has made this month so smooth for us! Thanks for passing on that great tip!
Such great ideas! I love seeing how many variations there are to use YNAB
Love these kinds of videos totaly!
And I'd like to share some life-hacks on grocery... not so YNAB App related but helpful to get a feeling for grocery, which helps to stay on track with the budget...
I always prepare my grocery shopping with a list of all the things I plan to buy... and give every thing a number what it probably will cost (only integers) So I can sum them up before I go and can prioritize my list at home and not in the supermarket where everything is shouting at me "buy me, buy me!"...
How do I know the aproximate prizes?! Feeling mixed with experience AND (here comes the hack): Because when I'm done with shopping, I put all my grocery stuff on the table and write the exact prize on it from the bill (yes that takes a while, but its worth it)... this helps me to get a better feeling for what things cost and - and this is a great AND - it gives me also a better feeling if I realy want to eat that one special thing all at once mindlessly or if it has more value and I like to enjoy it with more consciousness... and another AND... I can easier see if things where getting more expensive than last time, so I can think of to buy a cheaper version of this product instead...
And another hack... on saving money with groceries...
I also write on each thing the date when I opened it (very helpful for milk, juice... that's where I started it)... I do it with everything... so I know, which of my open groceries need to be eaten first... and so I waste much less and open much less things at the same time...
Hope that is helpful for other loveley YNABers too!
With greetings from Germany.
Ooookay. Those are brilliant hacks. Writing things down, having to process them again, is SO good for our memory and getting familiar with information we want to have stick. I love that. That could also easily translate into a grocery price book, where you keep a running log of all your favorite groceries and how much they cost!
And writing the dates is so simply brilliant and I have no idea why I've never thought of that before 😂 I'm also terrified of drinking expired milk or half and half, and writing the date on it is literally the easier hack!
Thanks for sharing!!
🌻 Hannah
YNAB pro tip - I put an abbreviation at the end of each budget item that tells me which bank account, or credit card, will be charged for purchase(s) in that category (ie - Monthly spa membership is charged on my Capital One Credit Card = Spa membership - COCC...$$)
This is a great tip! I'm thinking of doing the same so I can easily pull up all my bills or pet-related expenses. Thanks for sharing!
-Hannah :)
Absolutely loved this video! I’m going in right now and moving my fixed expenses to the boo-tay of my budget too!!! I also love the flag idea to separate my husband’s expenses from mine. Hannah, your delivery style and sense of humor make a dry subject like budgeting really entertaining. Thank you!!
Aren't these tips awesome?! Things I never would've thought of on my own! And THANK you. I only do things if they're fun, so we had to make budgeting a can't-miss event :)
🌻 Hannah
I love this video, sharing what others have done with YNAB. That's what communities are great for! Thanks YNAB and Hannah!
Love all your videos! It’s helpful to hear how others use YNAB. So many great ideas 😃
I split fixed into "regular" and "irregular", the totals help understand the monthly bills vs "surprise" bills, and if cash is tight you can borrow from a far off bill
YES!! PLEASE keep making these helpful and informative videos about good tips from others.
Instead of the color flag, I put the name of the car (example Prius) then the description at the start of the memo field. Just do a search in the memo field to get the same result.
The problem with flags is that it is not possible to assign a name to the color. I'm not using it and that's a shame. Hashtags are better than flags!
If you want, you CAN assign names to the flags. Just flag the transaction, click on the flag, click on "edit flag names," click on the color and assign whatever name you want. It's great for people who like to color code and it certainly is more visual at a glance, but any system that sorts transactions the way you need them, like yours, also works.
@@marilynstein7694 Available if you use the YNAB extension. But i don't use it and don't want to use it. I hope that YNAB will provide the best ideas of this extension.
@@JF_France You're right. I sometimes forget which features are from the toolkit. I certainly don't use all of them, but I have found several to be quite helpful. The toolkit is so well integrated that you can't tell it's there.
Mind blown! Thanks for sharing all of these awesome tips, Hannah! And thanks to everyone for sharing them!
I love this! Perfect thing for me to listen/process while I'm clearing house! Lots of them, I need to look at the screen and focus, but these are so helpful and more general! Thank youuuu!
Oh yeah! Just call me Podcast Hannah 😎
🌻 Hannah
Love your videos! Your goofiness keeps budgeting fun. I am in love with YNAB!
Only thing I would love to see on the app & web is a little notes section for the month.
A place to put goal reminders.
Like things I want or need to save for, but I’m not ready to put them in a category yet... or reminders a new Bill starts next month... or whatever.
A place to put encouraging mantras or your why you are saving.
There is a Notes section under the Month name in the web version. :) Not sure about the app - I only use that for entering transactions!
My fave tip is to use emojis at the start of each category. It took a few minutes, but makes my budget look so much more colourful and fun!
Excellent idea for regular videos. That will make it easier for Hannah to come up with content ideas for videos (we want her to keep making videos :) )
I have a Fixed Category with two sub categories in it. First sub Monthly Bills which has everything I pay with a check, debit card or is taken directly from my checking account. Second sub is Credit Card which has the three monthly bills that are placed on my credit card. That way when one is due I am reminded to put it to my Credit Card instead of placing it on my checking account.
This is a great tip round up! Sometimes I don't see all the comments if it's from a video topic that doesn't apply to my personal budget, but this is giving me some new ideas!
Nice video!
A nice suggestion would be to have autosuggestions for hashtags when searching. So, for example, when I type the hash sign, YNAB would suggest hashtags that I have already used in memo. The same can be done in the "memo" field, when adding a new expense 😬
Yes please! Love it. Also inspired by the flexi vs fixed tip - thanks.
I divide fixed category into monthly obligations and yearly obligations, yearly obligations are broke down into monthly figure, I just copy last month budget, and budgeting is done in 1 secs, ofc with set goal during first setup. it serve as reminder for payment as well especially for yearly obligations.
One thing I do that makes credit cards sooooo much easier for me: I don't use the "credit card" account type. I just use "checking" and let those accounts go negative. For example, I've spent $120 on one of my credit cards, so it's sitting at -$120 and then when I pay it, I'll just transfer money from my bank account to that card and it will be at $0.
I LOVED the presentation - Please do more of these IDEAS from other YNABers!!!!
This video of such great idea sourcing makes me really believe in people!
I would definitely like more of these.
Dang - this was good. I”m going to apply some of these to my budget for sure
I like to make sections based on the bank account the money lives in. Helps me know what section to go to and enter transactions based on the account. It also helps see all your accounts in one place and reconcile them.
You crack me up! Way to go Hannah, always fun to watch. 👍
🥳🥳 LOVE that!! Thank you so much!
🌻Hannah
Loved this video! A-because Hannah makes budgeting videos fun and entertaining. B-because those were really handy tips. (sidenote: I definitely check out my budget more than five times a day!!! I'm not sure what I think will have changed from the previous hour, lol, but I think it's more that I'm so proud of my ever-evolving YNAB budget lol!!!)
Shannon-same 😂 Just overly eager to delegate any new transactions. Even though I haven't spent any money. Absolute same. Ha!
-Hannah :
Where has the Internet been hiding you??? You're hilarious! This is the content I came here for :-)
Is there anyway to create a shortcut that pulls in my Apple Pay notifications as transactions into YNAB? I put everything in manually.
Following this thread in case an answer is shared
Really regretting not getting a YNAB mug 😭
Great vid as always Hannah!
Can we create a #hashtag or something in the comments or social media so all YNABers can share info and make it easier for you to create these videos? I have some fun tips too but I don’t wanna drop them in a random comment section. ( suggestion: #YNABTips )
Hey there! That's a really great idea. I may throw that idea out at the end of some future videos! It'd sure be awesome to be able to quickly pull up a bunch of YNAB tips from users all over on different social media platforms. Thanks for the tip!!
-Hannah :)
Keep up the fun videos Hanna! You’re a lot of the reason we just signed up. Fun with budgeting- who’da guessed? (Is that a word?)
Ahh, thank you so much!! WELCOME TO THE FAM! So, so glad to be here :)
-Hannah 🌻
I am so flattered you replied! I’ve now chatted with a celebrity! So now I’m a kinda celebrity too! 😎 seriously, we’re big Dave Ramsey fans (I’d say he saved my life) but it was hard to maintain our system. YNAB is easy and lets us steer spending instead of looking at it in the rear view mirror. Very cool. Thanks so much!
Yes!! Steer spending! I love that. Congrats on harnessing that financial control! No better feeling.
-Hannah 🌻
I've been using YNAB since about 2005, and although I see these videos and think they don't apply to me as I'm quite au fait with how YNAB works - oh how wrong I was - learnt quite a lot from this video alone. Plus its presented in a fun interesting way, so I didn't get bored and more on yo another TH-cam account
THere's also soooo many cool tips on the Reddit!
Love love love this sort of video! Learning from the tread!! Yah #killingit
Gosh, I still want to get a cup! :P
Great video y'all!
Tip: Set up reoccurring payments for all your fixed categories. This will show as scheduled when you check the account, so you have a handy overview without forgetting.
Great video! Definitely should have one like this regularly.
Hey Hannah... saw your interview with Jesse - epic 😎 👌 😉
What about interviews with real YNABer success stories? That would be fun to see 😃
Hey Tanya! Awesome idea! Maybe one day when traveling is a little more safe and carefree!
-Hannah :)
Yes, please! Keep these tips coming ^^
Love this, definitely keep doing this!
Love this episode, although TBF I am loving each of your episodes! Keep comment content coming!
Dear YNAB editor, the spot where you listed the Thanks [users] is the same place the endcard links show up so you can't really read them.
Lindsay, good eye-thank you!! We got those icons swapped around! We appreciate you 😎
-Hannah :)
I mean, you should just have a calendar with reoccuring expenses, reminders, etc sort of like other apps have. super helpful.
For the round 2 video. From your video on budgeting a month ahead. Since September 2020 I’ve taken $750 from each household pay cheque and budgeted February 2021. When I get to January 2021 it will mostly be funded and I can jump to funding March 2021. Furthermore, once February 2021 is done I can start funding February 2022 at a much lower amount (likely $250 each pay). I will need to budget $1 in each month in order to see that far into the future and I pick February cause, duh, it’s the shortest month and easiest to fund in our house. But this is an easy way to get ahead and what does it matter how long it takes? It’s not a race, right??! Love your videos Hannah!
Huh! Steph, that's a fascinating idea! I've never heard of picking a random future month to fund, but what a joy and surprise that'll be when you get to February and already have it taken care of! Not to mention that money is very much out of sight out of mind! Cool idea. Just reconcile often! You wanna frequently make sure each dollar is accounted for. Fascinating idea!
-Hannah :)
Awesome format.
Reddit r/Ynab deserves one as well :)
YASSSSSSSSSSSSSSS!
Ooooh, good idea Lino! I'm a Reddit n00b, so I will have to ask my Reddit-loving co-workers to help me find the best tips over there!
-Hannah :)
@@YNABofficial Ben commented on one of my reddits earlier! :) Y'all are helpful regardless of platform. :P
I really liked this kind of video!
Would love to hear how people handle items due for “first of the month” ... Do you budget for them as “$500 by end of previous month” or do you budget into the next month? Like do you flip from November and drop that $500 into the December category? I see benefits each way, but since I’m only 1 month into this YNAB adventure would love to hear from those with experience.
You can certainly do either but I just jump to the next month and drop the money there. It’s more intuitive for me personally (it happens then, so that’s where it goes, if you get my drift), plus I love the feeling of budgeting in the future.
Same - I drop it into next month. Plus, the 1st is likely your rent or mortgage, the most important expense! So my goal with that is always to be a full month ahead, so that in case of an emergency, my housing is never a concern. So my two September checks fund the November 1 mortgage payment, October funds December 1, etc. Even if I fall behind a bit on staying a month ahead on other expense categories, the mortgage has always been a non-negotiable to keep it funded ahead of time.
Same, I budget into the future. That way I can see it go into a spot.
For me I have to put it in the current month or I won't remember to do it! So I change them to be due at the end of the current month. Not the most accurate representation of my expenses but it helps me stay prepared
Thanks everyone! Yeah... I think I will get used to it "disappearing" into the next month, so I'm going to keep doing it that way... after all, that is where we want to end up anyway, right? Right now I'm doing a lot of flipping back and forth to make sure it is still there.
Hannah! I like this kind of video, and I like all your videos! Your content is great, so whatever ideas you have for videos (whether used or not), just keep it up! In my book you get TH-camr of 2020 award. 😂👌
Ah! Peter! What?! You are so kind!! I am flattered and promise to keep the unfiltered content comin' 😜 Happy holidays!
-Hannah :)
@@YNABofficial Wow, I feel like I know a celebrity now! Happy Holidays/Merry Christmas to you as well!
Question- is there a way to condense the info from the videos into a readable format? Hanna, you're lovely on camera and I'm not hatin' on your awesome videos in ANY way, but I'm a 'get to the point' kind of gal and I'd like to be able to get the content without the cutesy stuff. Because text can be really difficult to convey messages, again, your videos are great, and I LOVE the content, I would just love to have a 'top tips' or something similar to go along with these videos.
Aleta, I just accidently found out that if you DoubleClick on the little line that advances the videos, it shows you "chapters". Each chapter in this case is a link to each Tip! This isn't exactly what you were looking for, but pretty cool.
maybe ynab should implement a tagging feature, with a user defined list of tags
That's basically the hashtag function described
The difference between hashtags and a user defined list of tags is that with a user defined list the list items you entered become a pick list or drop down and you can ONLY select from those predefined options. Unlike hashtags where you have to remember what hashtags you are using and exactly how you phrased or spelled them (vacation vs vacations vs vacay vs Beach trip, etc.), not to mention type them in every time...
If you need a tag you don't have in your available tags list, go to your list setup and add another one, then it's available to select.
Let the app do the memory work for us.
GREAT ENHANCEMENT 👍SUGGESTION!! 👍
@@kteveler Yeah, this is what the app should do. The mechanism for creating tags could be just like adding payees-- start typing, and the ones you've previously used will show up or you can create a new one. It'd be really ergonomic.
I have coffee at 10pm and than go to bed... to each their own.
I decided to watch this video and she was talking about coffee and I go damn I'm late its already 4 and then she says that. Must be a sign LOL
Close its little car eyes 😂😂
Is there any reason to use #airfare over airfare? I use memos like that but I don't understand why I should put a # before the word.
Generally for search. #airfare is more unique than "airfare" (and also no English words start with a # lol) so you'll be less likely to find non-relevant items when searching for it.
@@investing_engineer thank you :).
YES!! These type of videos are awesome!!! Thank you!!
I am really enjoying my 1st month with YNAB. Thank you for all the videos. If you still need a piano, contact me via your fellow employee with the same last name! If not, where can I find the piano journey videos?
Jason, so glad you're enjoying it!! I *finally* got my keyboard-went with the Yamaha P-125 via another YNABers suggestion! No journey to follow just yet, but I'll hopefully crack into that project over the holidays! I'm eager to get rolling!
-Hannah :)
I use red flag for automatic payments that are also repetitive transactions 👍
That's a good one! Especially if you can set a payment to automatic verses manual and want to be reminded that's it's one or the other for next time!
YNAB Pro tip: Making different categories for long term and short term savings. It helps a lot.
I also have the credit cards that are due the soonest/need to be paid off first near the top.
Thanks a bunch for your video's!
Do you have any suggestions on how to set up your bank accounts while using YNAB? Example: one checking account and one savings or several savings accounts and one checking... or something better that I don't know about!
Honestly Brian, I only have four accounts, which feels like a lot to me 😂 I have checking, savings, emergency, and house (saving up for my first!). Honestly, the last three accounts could really all be one big savings account because YNAB truly does alllll the sorting and labelling of those dollars for me. Only reason I started a separate "house" account was at my bank was menta-I really wanted to have an account where I could see the total rising, keep that money out of sight, feel a little extra ownership of it, and only transfer dollars *in* and never *out*. The plan with the emergency account is to hit my financial goal and then just kinda leave it as a safety net-no money in, no money out. BUT, as I said, the beauty of YNAB is it makes it so that you DON'T need more than one or two bank accounts. It's all personal preference!! Of course you can always look into HYS accounts and what not, but that's currently above my pay grade 😂
-Hannah :)
@@YNABofficial Haha! I definitely understand. I was thinking “the less the better” for me. Then I can keep track of everything on YNAB and I won’t have to do everything again in my bank accounts. Thanks for your response. I’m really enjoying YNAB so far!
Love the idea with the hashtags! I should use that and maybe even retroactively categorize expenses for 2020.
Also I need to restructure my budget with the Fixed vs Flexi categories, that's actually an amazing idea! The only issue I have with that is that I have some fixed expenses that become flexi due to exchange rate fluctuations. Maybe I can put them in their own group which is above the other fixed categories. 🤔
Love this! Thank you.
Oh my god, YES to the last one!!!
I not only have my credit cards set up to notify me when there’s a transaction over a penny, but my husband’s as well! If you have a spouse who isn’t great about logging transactions, I highly recommend doing this!
I also really love Walmart Pay. I buy most of our groceries at our local Marketplace and Walmart Pay keeps the receipts and even shows me images of wha I bought. I would love it if I could have this for every purchase made everywhere! (Can you make that happen? Am I asking too much?)
Target does this too with their app! Makes it so easy to do returns when the receipt is in the app. You can load your Target debit or credit card, as well as access coupons right through the app. And arrange for pick up or curbside delivery. I heart it.
@@heatherj.7283 I knew the receipts were separated, but I didn't know about the app. Unfortunately, Target left my town a while back and the closest one is a 30 minute drive away. However, we shop at Target when we go to the beach, so I'll download the app! Thanks!
I also love this about Target! Returns are a snap. And I just took advantage of a free 6-month Shipt membership, so now I'm loving Target even more!
-Hannah :)
Quite Fun. Style... thanks. Keep it up.
Great tips! Thank you!
I never knew what the Harlem Shake was, and that makes me happy.
This is so hard for me but I am slowly learning. What does payee mean.
Hey there! The "payee" is simply the other party (store, person, business) involved in the transaction. If my mom gave me a birthday check for $25, I would put "Mom" (or the bank I cashed the check at) as the payee and mark it as a $25 inflow. If I pay my water company $75 for this month's water bill, I'll put the water company as the payee and mark it as a $75 outflow. Just asking yourself: "Who am I paying? Or who's paying me?" And that's your payee!!
-Hannah 🌻
These are some brilliant tips!
That's a leftie mug!!!!