You Need a Budget Software - LLNOE Sponsor

[Roy Randolph]

http://www.llnoe.com/images/banners/youneedabudget-baner.gif (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)

It is so important to have a budget if your going to work the principals outlined in My Total Money Make Over book or if you have been through FPU (Financial Peace). The You Need A Budget (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) software is some of the available software that is excellent if it will help you to stay on budget thus staying on the plan.Listen to a Webcast with Jesse the creator of YNAB (http://www.llnoe.com/media/webcast/ynab.mp3)
Mp3 file. Click to listen and right click to download


If you are using the software and would like to make comments please reply to this thread.

[SharkUSMC]

Best budget software in the world, hands down.

I've been on this for over a year now. I've followed from the initial Excel only spreadsheet version, up through the current .Net framework application that imports my bank account info directly into the software.

We spend about 30 minutes once a month and do budgeting. It is so incredibly simple I truly believe it has been a major contributor to our success in getting on a plan.

I'm happy to answer any questions about it as well as I'm able.

[meca98682]

I agree...I have tried several and I really like YNAB the best!! I'm on my second month with it and can't wait to start July!

[DeannP]

that imports my bank account info directly into the software.

Is there are charge for this (importing) or is that up to each bank? I know when we changed banks last year I looked and I believe they charge $10 a month or something for me to be able to d/l into Quicken. No, thanks! LOL

[meca98682]

I don't use the importing feature much yet as I kinda like entering my payments/purchases as I make them, but when I have downloaded them I have not had any charge.

[ashlncle]

Does this work with getting paid bi weekly?

[meca98682]

Don't see why it wouldn't work however you are paid. You just plan your budget as you do now and plug in your income as it comes in. It is set up to live on last month's income but until you get there (we are not there) you simply enter your income as supplemental and it works fine. We hope to be living on last month's income after our debts are paid and then our income will be entered as primary income.

[jmjj215]

Is there are charge for this (importing) or is that up to each bank? I know when we changed banks last year I looked and I believe they charge $10 a month or something for me to be able to d/l into Quicken. No, thanks! LOL
I haven't heard of anyone having to pay to download their activity to import into YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html). Not a single user has brought it up so far.

[DeannP]

Well, I took the plunge a little while ago and bought YNAB Pro.

I'm reading the manual and it feels like Christmas! Does this mean I should put it in the Christmas category? :laugh3:

Now I have to decide if I want to take some money from the EF to get started with our buffer or not.

[YBNRML]

Don't see why it wouldn't work however you are paid. You just plan your budget as you do now and plug in your income as it comes in. It is set up to live on last month's income but until you get there (we are not there) you simply enter your income as supplemental and it works fine. We hope to be living on last month's income after our debts are paid and then our income will be entered as primary income.

By living on last month's income, do you mean being 4 weeks ahead on bills and having a month's worth of funds in the checking acct?

[Dorothy]

By living on last month's income, do you mean being 4 weeks ahead on bills and having a month's worth of funds in the checking acct?

Basically, yes. All of October's income would go into savings (or somewhere) while you are paying October's bills out of money you had in hand on Oct 1st.

When it comes time to do the November budget, your income is the amount of cash you have on Nov 1st (October's income plus any overages or adjustments).

There are two advantages to this:
1) you don't have to worry about due dates - if you get paid on 1st and 15th with most of your bills due on the 10th, the first half of the month could be hairy. If you already have all of your income for the month sitting there, it isn't a problem.
2) if you have variable income, then you know how much you have to spend instead of guessing

[meca98682]

It doesn't have to be a whole month's income...just whatever you can scrape by with in a month. So you may have to live really tight one month but after that you will be living on last months income instead of paycheck to paycheck.
This "buffer" is not an EF fund...it will be used.

I have decided what I am going to do is start with our 4th paycheck of the month. It is a small check I get that comes on a different date each month in the 3rd week of the month...such a bother as it can mess up the timing of our bills/spending so easily...so I am going to get one month of this check in our checking account...can't do the whole month yet but will just start with this small amount. That will ease our month a lot. Then once the debts are paid off I will go for the whole month's income..or maybe sooner but not right away. This is not the recommended way but think it will be better for us to start this way.

[christy5022]

I ordered this today. We haven't been doing well with the budget lately and I am hoping this helps.
Now I just have to figure out where to start. I have been reading the forums over there but am still :one-eye: on what to start with.

I will probably spend the day trying to get some of it done as I hurt my neck this weekend and can't move my head without pain..

Any tips would be appreciated..:biggrin:

[YBNRML]

Basically, yes. All of October's income would go into savings (or somewhere) while you are paying October's bills out of money you had in hand on Oct 1st.

When it comes time to do the November budget, your income is the amount of cash you have on Nov 1st (October's income plus any overages or adjustments).

There are two advantages to this:
1) you don't have to worry about due dates - if you get paid on 1st and 15th with most of your bills due on the 10th, the first half of the month could be hairy. If you already have all of your income for the month sitting there, it isn't a problem.
2) if you have variable income, then you know how much you have to spend instead of guessing

So instead of a $1,000 BEF, you have a one month fund (+ BEF)?

It would be nice to be two weeks out.. 4 weeks would be a dream for some.

[Roy Randolph]

So instead of a $1,000 BEF, you have a one month fund (+ BEF)?



You know in the beginning of starting YNAB AND Dave's plan these two COULD be the same, no reason that your BEF and part of your FFEF if your in BS3 couldn't be those funds as well.

[meca98682]

You know in the beginning of starting YNAB AND Dave's plan these two COULD be the same, no reason that your BEF and part of your FFEF if your in BS3 couldn't be those funds as well.

This is not really the way it works though....you USE the buffer...like Jesse gives the illustration of using it to buy an expensive gift for someone (a little more than you had planned for) so you go over a little that month...you wouldn't want to use your BEF for this surely!! Since you went over, the buffer kicks in and then next month you have a little less to live on etc until it is paid back.

From what I have learned on the site and the forum, the buffer is the amount of your paychecks OR the amount of your necessary monthly expenses (which ever you want to use) and the first month after you have saved it you use it....whatever you have you get through the month on that amount. It could be your usual income amount or less if you choose...just will be a tighter month, but it is used. Your paychecks for that month are saved to use the next month and from then on you living one month behind your income. Of course, if you already have a one months buffer when you first start out, you don't have to go through the saving process.

Edited to say: Sorry didn't realize I'd already posted to this thread and said much the same thing. Just read Roy's comment and wanted to make this point.

[t3hw007]

What I do to use YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) and do DR's plan is I actually have both in place. I live off of last months income for monthly expenses. I've also saved up $1k in my BEF and am letting it grow at ING. Once I get done with BS2, I'm going to boost the EF until it satisfies my security gland, which because of the extra month of cushion can be on the shorter end of the 3-6 months.

[meca98682]

GFY! This is what we are going to do too.

[Scuttlebutt95]

Not trying to pit two LLNOE sponsors against each other but...

How does YNAB compare to Mvelopes? I've been using Mvelopes for awhile now, even before discovering DR, so I'm pretty happy with it, but I'm curious if YNAB has some advantages that Mvelopes doesn't.

[meca98682]

I used Mvelopes for a few years. I loved the program in many ways. It is a more complicated program than YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html). YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) is simply a budgeting program. It will import transactions from your bank account or credit card (in a way...you download, save to your hd and then upload to YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)). Mvelopes AUTOMATICALLY downloads your transactions without you doing anything, then you assign them to your virtual envelopes. When it works, it is great and I really really liked this feature!

IMO, though, Mvelopes does not do as good a job at budgeting as YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html).. at least it still didn't when I stopped using it in April. It's ok, but I think YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) is easier to use. Also there is a monthly charge for Mvelopes. There is no monthly fee for YNAB. (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)..you buy the software. Not sure about updates as that is apparently still being discussed from what I've read on the forum.

The main reason I stopped using Mvelopes (besides the monthly charge) was that everytime a website changes (bank, CU, credit card), Mvelopes has to work to get it back to being able to work with it...to be able to download. This became a big issue for me...as everytime they thought they got it fixed, it started giving me trouble again. I could still download but had to do a bit more manually. The CS was very good with Mvelopes although as they became busier I did think it wasn't as good as it once was.

The issue with the downloading was not a really big deal but that plus the money fee, plus the budgeting issue plus the fact I had to be online to use the program and when we travel that can be a problem......I decided to switch to YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html). I have not regretted my decision at all! But they are both good programs for different reasons. Hope this helps.

[TenPercenter]

Is there a free trial for YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)? I just signed up for the Mvelopes trial... I'm not sure I am going to like using Mvelopes over a "spreadsheet-and-envelopes" plan.

[meca98682]

I'm pretty sure there is. I know there used to be. Go to the forum and ask Jesse. He's a real nice, helpful guy.

There is a spreadsheet version of YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html), however I recommend the Pro version. It is not a spreadsheet but is a great budgeting software and I don't find it complicated...but then I'm not very good with spreadsheets. What I really like about it is....like this month I went over on my groceries by $89...the software automatically removes that overage from my next month's income so I am forced to budget what's left. Of course, I can simply reduce my grocery money for January, but the software doesn't do it from that category...just from my Jan income...so I can reduce whatever expenses I want to make my spending fit what's left of my income. It is a great program for budgeting and keeping one on track!

YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) is also not an envelope system...whereas Mvelopes has virtual envelopes. But it has Master categories and sub-categories which really are the same thing. And the budgeting process is much more efficient (IMHO) than what I used to have with Mvelopes (they may have improved it since then - April).

Although I do like Mvelopes (and if you search you will find many threads where I praised it!), it does have a monthly fee plus there is quite a learning curve. Many people really struggle with it in the beginning and although I didn't feel I had much trouble with it, I did have to call CS a few times for help. I also like having a budget I can access without being online for when we are traveling and the internet is not as reliable.

[sahmamma]

I really want to try this but I am still confused by the living off of last month's pay thing. Maybe I just need to dig my heels in and it will get easier.

[Rachmielah]

I really want to try this but I am still confused by the living off of last month's pay thing. Maybe I just need to dig my heels in and it will get easier.So am I. I am terrible with numbers in general and finances in particular. But I really want to get us straightened out. I just feel so confused and inept!

[meca98682]

You do not have to be living off last months income when you begin. We are not yet. You can enter all your income now as supplemental while you build your buffer (one month's income or expenses). Once you have your buffer built then, you live off that for the next month, so you are then living one month behind on your income!

I have been using this software since April and still do not have a buffer in place. I am not concerned about it.... but will get it as soon as I can. Right now I am focusing on other larger needs we have and debt. I hope soon to start building the buffer but who knows when I will have a full month.

What I'm trying to say is, the software works fine for budgeting whether or not you have the month's buffer. Jesse just feels it is important to get that buffer as soon as you can as you will be more comfortable financially. This is where he differs a little from Dave, but you can use the software and do it however you want.

ETS: Wanted to add that we use cash envelopes. I have categories for my cash envelopes for our day-to-day spending and just record the amount I withdrew for each one when I make the withdrawal at our CU. You can set up any categories you want. There were several I deleted as I didn't like/need them and I set it up the way I wanted it.

[domino]

I've been using YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) for the past nine months. I actually found this site through a link posted over on the YNAB's (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) discussion forum where I visit frequently - and I've been lurking here quite a bit since. I haven't looked at Mvelopes at all so I can't compare the two. What I can say is YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) has completely changed they way we manage money personally and has helped us gain a lot of traction on our debt snowball (we're currently in baby step #2).

At its roots, YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) simply applies sound budgeting techniques - what Jesse refers to as the "Four Rules":

Rule #1 is living off of last month's pay. As other posters already indicated, this isn't mandatory to use YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html). If you don't budget per rule #1 you simply budget your available income as you receive it. However its value is not to be overlooked, especially for people that have highly variable income and have to look into the crystal ball when they lay out their budget. Usually it takes an "a-ha" moment to really get it, then saving up a full month's expenses quickly becomes a priority. A couple of people I know over on the forum have been saving for a buffer for some time now, yet they still seem to be successful in budgeting with YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html).

In practice, we "buffer" my mid-month paycheck (letting it sit in our checking account) to match up with my 1st of the month paycheck when we can budget out our entire month in advance. Since we have an entire month's income waiting for us at the beginning of each month, we could theoretically pay all of our bills and run through all of our expenses for the month on the 1st every month. There's a lot to be said for dotting every "i" and crossing every "t" in a plan. That's what it does for us.

Rule #2 is giving every dollar a job. This applies Dave Ramsey's advice on zero-based budgeting. Coupled with Rule #1, this allows you to lay out your entire month's budget all at once by allocating existing funds to all of your expense and savings categories. It lets you know how your budget shakes out for the entire month from the word Go.

Rule #3 is saving for a rainy day. This applies Dave's advice on maintaining sinking funds. If you know you have to save $300 for your semi-annual car insurance bill, you simply budget $50 to a "Car insurance" category every month and let YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) roll the balances forward until it is needed. You can manage any number of sinking funds in YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) this way.

Rule #4 is rolling with the punches. This is kind of a unique way to handle overspending in any category by borrowing money from your sinking funds and/or buffered income until you can pay yourself back out of the following month's budget. Instead of carrying over a negative balance in your overspent category, YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) zeros it out for the following month and takes the overspending out of that month's income before you finalize your budget so you can make the decision on how to adjust for it.

The actual mechanics of YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) also includes logging and categorizing your income and expenses as they occur, either through manual entry or by importing your banking statement, so you can track your remaining balances in any given budget category in real time. It also has a scheduler so you can set it up to log routine income and expense entries on specific dates. A really neat feature I like is it will display your expenses over a definable period of time in pie chart and bar graph format.

Sorry if that sounded like an infomercial, but it really is good stuff. Since getting (with) the program, we've turned our finances around from spending every dollar we made together and then some, to now we're living on 80% of my net income alone and will be down to 65% of my net income once we put baby step #2 behind us. Could we have done it without YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)? Well, we hadn't up until then, but the principles are easy enough to understand. It's all the bells and whistles it has that has kept me engaged with it. I'd definitely recommend it.

[TenPercenter]

I'm sold. (wow that was easy).

I'm filling out the order form... is there a LLNOE coupon code?

[Rachmielah]

I'm sold. (wow that was easy).

I'm filling out the order form... is there a LLNOE coupon code?

Once you get an LLNOE annual membership (http://www.livinglikenooneelse.com/forum/showpost.php?p=76853&postcount=1), you can send a message to Roy Randolph (http://www.livinglikenooneelse.com/forum/member.php?u=1) and he will let you know how to get the discount.

[TenPercenter]

Once you become a LLNOE charter member (http://www.livinglikenooneelse.com/forum/showpost.php?p=76853&postcount=1), you can send a message to Roy Randolph (http://www.livinglikenooneelse.com/forum/member.php?u=1) and he will let you know how to get the discount. :biggrin:

In other words, if you are not a founder, sol. :)

Ordering now.

[Rachmielah]

In other words, if you are not a founder, sol. :)

Ordering now. No, I'm sorry I wasn't clear with my wording (trying to get over a bad cold and not thinking very clearly). You contribute $16.00 to get an LLNOE annual membership, then you get the discount for $10.00 off of the YNAB program.

[meca98682]

In practice, we "buffer" my mid-month paycheck (letting it sit in our checking account) to match up with my 1st of the month paycheck when we can budget out our entire month in advance. Since we have an entire month's income waiting for us at the beginning of each month, we could theoretically pay all of our bills and run through all of our expenses for the month on the 1st every month. There's a lot to be said for dotting every "i" and crossing every "t" in a plan. That's what it does for us.



I think you explained the program very well! And this (above) is exactly what we intend to do first. Hopefully next month or possibly Feb. We have a small 4th check that comes the 3rd Wed of every month and the timing is a nuisance so I think if we "buffer" it it will help so much to make our month smoother.

[sahmamma]

So, how does one use the YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) with envelopes? Like, I put $25/mo into a clothing fund, or $50/mo into a house needs fund. I would usually transfer all of these "sinking" funds into my savings account and leave them until I needed the money for those reasons. How would this work with the budgeting softwear?

thanks from a budgeting program newbie!

[SharkUSMC]

You would budget the 25/month on the clothing category, and the 50/month on the housing needs category. If you spent nothing, the following month those would start with 25 and 50 respectively, and when you budgeted that month's 25/50 the balance would start the month at 50/100, until you make a withdrawal against that line item.

The software doesn't care where you keep the money (savings, checking, money market, etc), it doesn't track accounts. If you needed to spend the money you would just transfer the money from savings to checking and then write a check. When you write the check, you enter what he calls an "Outflow" in the appropriate category, i.e. Clothing - $12.87 Outflow

Hope that helps.

[sahmamma]

You would budget the 25/month on the clothing category, and the 50/month on the housing needs category. If you spent nothing, the following month those would start with 25 and 50 respectively, and when you budgeted that month's 25/50 the balance would start the month at 50/100, until you make a withdrawal against that line item.

The software doesn't care where you keep the money (savings, checking, money market, etc), it doesn't track accounts. If you needed to spend the money you would just transfer the money from savings to checking and then write a check. When you write the check, you enter what he calls an "Outflow" in the appropriate category, i.e. Clothing - $12.87 Outflow

Hope that helps.


yes, very much TY!

[meca98682]

I've explained this somewhere else but to make it easier for me here's what I do: I made a Master Category called Cash. Within that Master Category I have set up sub-categories for all my envelopes.....groceries, gas, clothing, blow etc. As another poster said, the software doesn't care where the money is kept. Twice a month, we go to the CU and withdraw the cash and I enter a "mulitiple category" entry for the withdrawal...showing it was withdrawn for groceries, gas, clothing, blow, etc. Once we have withdrawn it (cash) I don't worry about tracking it...I know when it's gone...the envelope is empty!:crazy:

[domino]

SharkUSMC is right on the money with how you'd allocate your available funds within your budget to physical envelopes. How you deal with the recognizing the actual expenses is up to you. Like SharkUSMC said, you can enter in expenses as they occur and YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) will keep track of the envelope balances for you, or you can use meca98682's method of expensing the money off as soon as the envelopes are funded.

Starting next month we're going to adopt a mini envelope system for the categories the wife pretty much manages on her own, such as household sundries (cleaning supplies, paper products, etc.), family hygiene (haircuts, shampoo, etc.), and her mad money. Since she doesn't really get into the nuts and bolts of YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) (I'm the nerd), she sometimes thinks there might still be a balance in a given category when in reality there isn't. I figure it's probably best not to make it a guessing game for her and I'm hoping it makes things more convenient for her. I'm not really all that tied up with how I show it in YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html), so the envelopes will probably just get written off as being spent as soon as they are funded.

[Kmama]

So I see that there is a trial version of YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)...is there a trial version of the plain jane YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)? I really, really like the look of this software...I looked at it months ago and now looking at it again I like it even more. Problem is I'm on a Mac so I can't run Pro. I'd like to try the plain ole' YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) and hopefully upgrade if/when a Mac version of Pro comes out, but I'd like to try a free trial if possible so I can see if it's something I would actually use. I track all our bank accounts in Moneydance, but it's weak on the budgeting aspect.

[TenPercenter]

So I see that there is a trial version of YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)...


I never actually found the trial version of YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html), did you? All I could see is that they offer a 60 Money-Back. I paid full price, but figure that 60 days is plenty long to see if it will work for me.

[meca98682]

Go to the forum and contact Jesse. I'm sure he will help you.

So I see that there is a trial version of YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)...is there a trial version of the plain jane YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html)? I really, really like the look of this software...I looked at it months ago and now looking at it again I like it even more. Problem is I'm on a Mac so I can't run Pro. I'd like to try the plain ole' YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) and hopefully upgrade if/when a Mac version of YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) comes out, but I'd like to try a free trial if possible so I can see if it's something I would actually use. I track all our bank accounts in Moneydance, but it's weak on the budgeting aspect.

[supenguin]

I just took the jump & purchased YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html). Every software package I've used is either really good at tracking spending or is for creating/tracking budgets. I've yet to find a program that is good at both.

It looks like YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) might be that program. I purchased the Excel spreadsheet version of YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html). As soon as YNAB Pro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) is available for the Mac I'll be giving that program a spin.

I've only had YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) for less than a day and so far it looks really cool.

[oldsarge66]

just started using ynabpro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) it has quite a learng curve but feel it fits perfectly with dr. really nice budgeting module, wife and i are eating the elephat one bite at a time with sucees, now teaching it to adult children with money problems
old sarge66:c2:

[ageorgilas]

I just started the 15 day free-trial period yesterday and really like the software but to be honest am also really confused. I find it exciting (I'm definitely the nerd) but it is alittle overwhelming for me to understand where to start. Is there a user manual or instruction booklet for beginners? I use the cash envelopes that I fund twice a month as well but don't want to have to track the expenses within them to cut down on the budgeting time each month. I also have the sinking funds created (car insurance, property taxes...) but am not really sure where you see the balances for these items increasing and where do you keep this money in the meantime??? Sorry just getting into all of this. Currently in week 4 of Financial Peace as well and am hoping that YNABPro (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) will help me keep track of all our expenses/income/sinking funds/budgeting.... all in one place but really not sure where to begin? Also, if I decide to purchase the software can you load it onto multiple computers or would you have to keep updating each computer???

One last item, my DH and I are both on a variable income and are usually negative each month so not sure how this will play out but any advice is appreciated:)

[RebeccaG]

One last item, my DH and I are both on a variable income and are usually negative each month so not sure how this will play out but any advice is appreciated:)


If you are negative every month you need to either cut expenses or increase income. You Need A Budget (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html).

[northernmama]

ynab (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) is great for variable income, that is why I am switching.

there are tutorials on the site, they have helped me a lot in how to set up everything.

[ageorgilas]

How does the register work then? say for example i start the YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) budget software for june do i only start with transactions in starting in june? but i have some bills that were paid in may for june (for example last month my dh and i had a good commission month so i paid my june mortgage using may 15th's check so how do i enter this on the register if i am only entering check book items for june???

[queenofeverything]

I may have to bite the bullet on YNAB, too. I found out that on my Excel spreadsheets, I forgot to copy over a $25 monthly expense since January 08! I don't know how I could have forgotten that. I may have to do a checklist of all monthly deductions and make sure they are all entered during the month. My problem is we don't have the one month cushion yet. It probably won't happen ofr us until the beginning of BS3.

[northernmama]

How does the register work then? say for example i start the YNAB (http://images.ultracart.com/aff/618B819E7AFC750119BB06A4C5631800/index.html) budget software for june do i only start with transactions in starting in june? but i have some bills that were paid in may for june (for example last month my dh and i had a good commission month so i paid my june mortgage using may 15th's check so how do i enter this on the register if i am only entering check book items for june???

You enter your starting balance for June and go from there:

If I am understanding the concept correctly, you only record what you spent in June. If you are paying things ahead like this anyway, you already get the concept of what it is trying to teach, living on last month's income.

[mileha]

I still have the software with activation. I've never activated it.

I still love mvelopes. There is a learning curve, but so does YNAB. For the previous poster, you can use your cash envelopes with mvelopes.


to do this,
Fund your envelopes as your normally would

example-
100.00 groceries
100.00 eating out
100.00 blow money

Then, go to the ATM/bank and make your withdrawl. When the withdrawl posts, simply deduct it from each of the above categories and use your cash.

there is another way to do it by using the cash account, but more difficult to manage.

I am not bashing YNAB, but I found I like mvelopes better.