YNAB Users?

OU812

Can't find anywhere more suitable to put this...


Any YNAB users on boards? Decided to use it to see if it could make a difference after seeing users rave about it on reddit. Just wondering if there were any boardsies using it?

howamidifferent

I've been using it since March 2015. Best piece of software I've ever found.
Only wish I had it 10 years ago.

OU812

I've been struggling with it recently (not a great start). Have gone back to working off excel.

But likewise, Wish I knew about it years ago !

howamidifferent

They've moved to a web platform now with the latest release which I don't like so I'm sticking with YNAB4. It does have a little learning curve but all of the online classes are available for free and make it all very simple. I played with the 34 day trial of YNAB4 for 3 days before I paid up for the product. It's saved my bacon multiple times over the past 10 months already. Well worth sticking with, do the classes, repeat if needs be but stick with it. YNAB4 is still for sale by the way for $60 if you don't want to try the new web based version. Give it a go. Nothing to lose. 34 day free trial of both versions.

petethedrummer

Been using the classic version to track spending for the last few months. Now I must use it to reduce spending!

howamidifferent

petethedrummer wrote: »

Been using the classic version to track spending for the last few months. Now I must use it to reduce spending!

Stick with it. It works!

petethedrummer

howamidifferent wrote: »

Stick with it. It works!

Yeah I've been really looking into it over the last week. I have the knack now. Not that it's difficult but I was misinterpreting some of the concepts.

What do you not like about the new web edition? I signed up for the trial but haven't migrated yet.

howamidifferent

petethedrummer wrote: »

Yeah I've been really looking into it over the last week. I have the knack now. Not that it's difficult but I was misinterpreting some of the concepts.

What do you not like about the new web edition? I signed up for the trial but haven't migrated yet.

This post from the YNAB forum pretty much sums up all thats wrong with the new product. It's one of hundreds all expressing the same opinion. Plus its bug riddled which is also documented in multiple threads on the forums, and their release notes here.

petethedrummer

Fair enough, I'll hold off.

bren2002

Just signed up for this yesterday. I think I get the concepts and I think I've set up something that I can work with.

I don't have many problems with the cloud version. Software always has bugs and the cloud is easiest to deploy to.

howamidifferent

If you are using the web version then you will find this extension hugely beneficial as it adds a host of additional options to the software for free and it's completely open source and community supported.

bren2002

Thanks for the extension. I don't have a critical mass yet in ynab to really get value from it but that will come over time.

Does anyone want to share goals for the year in ynab?

I've no real debt, except the mortgage. But I'd like to save for some home improvements, update the car in a few years and start planning really long term - kids to college and retirement etc.

OU812

After starting with the bed of intentions, I've abandoned it. I have my own "envelope" system which works for me & when I started using unable I was spending too much time entering figures & micro accounting

Books4you

I've been using Ynab 4 since February last year. Changed over to nYnab in January and loving every minute of it. I like the others wish i had found this 10 years ago. I'm still as addicted now as i was a year ago.

The amount of money I have saved by using it is something else and truly hard to believe. I honestly went from a few hundred then lower every month to a few thousand by the end of 2015. You really have to embrace the concepts of Ynab to really get the benefit from it. I remember at the start I couldn't figure out not entering in all my wages for the month! I was like how does that work, how do i know i have enough etc!

But once you follow the rules and build up your buffer, i was able to save mine up by Oct last year, it gives you a freedom knowing you aren't relying on your wages every Friday. I try and tell as many people as I can about Ynab. Best thing I ever bought in my Life!

I honestly think you should stick with it OU812. I found out about ynab on reddit too and thank god for that. Currently debt free and loving it!

keane2097

Started using YNAB last November and even after just a short few months it's been incredibly positive for me. 7 thumbs up.

Still using classic personally, and don't intend to change over any time soon although I'm keeping an eye on the progress of nYNAB.

OU812

Books4you wrote: »

I honestly think you should stick with it OU812. I found out about ynab on reddit too and thank god for that. Currently debt free and loving it!

Will take a look at it again. I've been using the envelope system (with a fairly tight budget) for ages now & it was working out ok. I just can't get used to entering stuff all the time. The budget barely varies & it seems to be working ok.

howamidifferent

OU812 wrote: »

Will take a look at it again. I've been using the envelope system (with a fairly tight budget) for ages now & it was working out ok. I just can't get used to entering stuff all the time. The budget barely varies & it seems to be working ok.

The Android app makes it so easy for me. I enter transactions on the go.
Adjust the budget almost daily if I need to to and I do reconcile every morning. Takes only a few seconds to do. Knowing where every penny I have is, and what it's earmarked for is something that brings an amazing clarity to your financial situation. And with awareness comes prudence.

Books4you

OU812 wrote: »

Will take a look at it again. I've been using the envelope system (with a fairly tight budget) for ages now & it was working out ok. I just can't get used to entering stuff all the time. The budget barely varies & it seems to be working ok.

The android app really does make it easy when it comes to entering your transactions. I enter in most of my transactions before I leave the shop. Then for bills that you have the same every month, rent, broadband etc, set up scheduled transactions and that way they will automatically happen every month for you and all you have to do is approve them. And i reconcile daily. Only takes a few minutes.

I'm forever over on the ynab forum too. They have yearly, monthly and daily challenges and there is also a wealth of information over there to help you along the way if you get stuck. This year I joined the 2016: Official Savings Challenge. There is a spreadsheet that everyone that joins up enters in how much they have saved for the month. It keeps me motivated to stay on track with savings - although it's amazing how much some people save in a month! :-)

Best of luck with it!

Oh and I was an envelope person myself, used to have one for everything. Now i look at my categories on the app and to me that is my envelope. €11.99 in the Netflix envelope, €20 in Vodafone.

Brian201888

What banks if any here connect to it?

OU812

Eoghan_2 wrote: »

What banks if any here connect to it?

Banks here don't connect to anything

howamidifferent

For anyone interested in a web offering, google everypocket.
It seems to be based on YNAB4 but is currently in development still. But any signups at the minute are free for life its says as its a means to gather feedback and identify bugs etc...

Edited to add it also has a companion Android app.

Brian201888

OU812 wrote: »

Banks here don't connect to anything

So you manually enter every transaction into YNAB?

Books4you

Yes you have to put them in manually but takes like 20 seconds when your in a shop on the app on your phone. Enter amount, payee and enter. Done! Or just keep receipts at the back of your wallet or whatever and put them in when home. Much easier to do on the go though so you don't forget or lose receipts. Any bills that you have frequently you set them up as scheduled transactions for once a month or fortnightly etc.

It is more based for American and Canadian banks and can't see that changing. I think I would still enter manually though and a lot of people do even if they have the option. It makes you more in control of your finances and that is exactly what Ynab is all about.

Books4you

howamidifferent wrote: »

For anyone interested in a web offering, google everypocket.
It seems to be based on YNAB4 but is currently in development still. But any signups at the minute are free for life its says as its a means to gather feedback and identify bugs etc...

Edited to add it also has a companion Android app.

Thanks for that. I will take a look even though I love Ynab as you might have guessed! I'll play around with it to see what it's like.

bren2002

Good post on everypocket. Its hard to tell from their website but am I right in thinking it's a more traditional budgeting tool like mint? The key feature of ynab for me is the give every dollar a job and age your money concepts.

I'm using ynab for a few weeks now and I can already see some interesting things on our spending. But I can also see how it needs an investment in time to get the best results from it. I think once you can stop going month to month and start living of last month's earnings that's when it really takes off.

howamidifferent

bren2002 wrote: »

Good post on everypocket. Its hard to tell from their website but am I right in thinking it's a more traditional budgeting tool like mint? The key feature of ynab for me is the give every dollar a job and age your money concepts.

I'm using ynab for a few weeks now and I can already see some interesting things on our spending. But I can also see how it needs an investment in time to get the best results from it. I think once you can stop going month to month and start living of last month's earnings that's when it really takes off.

Everypocket isn't mint like. Its very YNAB4 like even down to the look of the product. Definetely YNAB influenced. Also a zero sum based envelope budgeting system. Shows great promise...

bren2002

Fair enough, you've clearly been closer to it than I was able to looking on my phone. I'll have to keep an eye on it.
Is it not cloud based then if its like ynab4?

Merowig

http://lifehacker.com/5828438/five-best-desktop-personal-finance-tools

Budgetsimple and PersonalCapital are looking good

petethedrummer

Books4you wrote: »

I think I would still enter manually though and a lot of people do even if they have the option. It makes you more in control of your finances and that is exactly what Ynab is all about.

Yeah for me YNAB is about properly knowing where my money is going. I think automating it would take away some of my new spending self-awareness.

Not my real name

I'm a ynab user for over 3 years now and its honestly changed my life. I'm still on ynab4, haven't changed over yet, not for any particular reason, this one is working for me fine.

It helped me clear two credit cards, 2 overdrafts and a credit union loan within the first year. I Just love the fact that I never get a shock when a big bill comes in as its always covered. Christmas, holidays, birthdays are never a panic anymore, but then again we dont go overboard either.

I'm never managed to get fully buffered, except for my mortgage catagory.

I will say I found the first year difficult, especially the first few months as big bills like car/house insurance etc where due so I had to put bigger amounts in each catagory to make sure it was covered. Once it was was paid then I could divide by 12 and have it covered for the next year.

Would recommend it to everyone!

lcwill

Love YNAB. Been using it with my wife for about 2 years and it has had a huge effect on our spending - it actually makes me feel a little sick to think how much money I probably wasted in the years before I started using it.

I don't use it the way you are supposed to though. I worked out my own system which suits me better and is mainly just for tracking expenses so I know how much I spend month by month and where I am spending too much.

Still using the classic version too.

howamidifferent

Reached my two year anniversary on YNAB4 this month. Cant recommend it enough!!

Books4you

I meant to come back last week to reply to you. Congrats on the 2 years! I'm over 2 years now too and stilling loving every second and still annoying everyone talking about it all the time!

I switched to nynab for january 16 and i use ynab4 for someone else that I'm trying to get back on track at the moment. Both have their pros and cons. I like nynab. Suits my needs and my budget isn't complicated like others so works for me. I did check out everypocket last year, still in the early stage then so not what i was looking for but to be honest i love ynab and don't mind spending around €45 each year to support them. Worth it. I'd probably be still living paycheck to paycheck if I didn't find it.

I am going to lose my buffer and EF in the next 2 months to pay for something important BUT i do have a separate stash aside now to cover if anything pops up. It's mad to think that something big like this pops up and i can just pull that kind of money without being phased. LOVE IT!

howamidifferent

It's a glorious feeling seeing a large bill come in knowing that all of the money is already there just waiting for it with no shortage or change in lifestyle required. Peace of mind is invaluable.

OU812

I'll come back to this thread saying I've totally abandoned YNAB. It just didn't suit me. Instead I pay all outgoings (inc emergency fund & savings) by the week, building them up. I know that everything is covered & I'm in credit on a couple of things. It seems to be a better way of doing things for me.

Books4you

OU812 wrote: »

I'll come back to this thread saying I've totally abandoned YNAB. It just didn't suit me. Instead I pay all outgoings (inc emergency fund & savings) by the week, building them up. I know that everything is covered & I'm in credit on a couple of things. It seems to be a better way of doing things for me.

If the way you do it works for you then that's the main thing really. Glad to hear your're doing well with the savings!

Books4you

howamidifferent wrote: »

It's a glorious feeling seeing a large bill come in knowing that all of the money is already there just waiting for it with no shortage or change in lifestyle required. Peace of mind is invaluable.

100%

wassie

We in our 2nd year of nYNAB and its has dramatically changed our lives. The biggest changes are the fact my spouse & I no longer have arguments about money. We are both in sync and yet we dont actually have to discuss finances as the system keeps everything open and transparent. We literally have a 5 minute budget meeting once or twice a month.

We recently moved back from overseas after many years and being able to set up separate budgets to handle different currencies was a life-saver. Only downfall was not being able to transfer between budgets.

The best part of this system I believe is its flexibility - you dont need to change your own financial system to suit i.e. we have a mix of cash at hand for each of us, mortgages with redraws, savings and current accounts and multiple credit cards all - yet we know where every single cent is allocated and going. Powerful stuff - and unless you experience this it really is hard to understand.

I understand folks dont like the idea entering every transaction, but the app makes light work of that (habit forming) and it actually chnages the mindset in unnecessary spending.

kala85

Can you sync from ynab on the android version to ynab desktop.

howamidifferent

kala85 wrote:

Can you sync from ynab on the android version to ynab desktop.

Yes, two ways to do so, either using Dropbox to sync or sync over WiFi if on same lan.

Dord

howamidifferent wrote: »

Yes, two ways to do so, either using Dropbox to sync or sync over WiFi if on same lan.

That's only on YNAB4. On the "new" web version (usually referred to as nYNAB), you just need to login to the app. It'll update immediately if you have internet access.

I've been using YNAB on and off for the past 3 or 4 years. I found it very useful and well worth the money. When I first used it (YNAB4), I think I made back the license cost in savings in the first month.

Used properly it was really like getting a pay rise, but without any extra money.

The tricky thing I found was getting my wife to use it regularly. When it comes to a couple using it both really need to have bought in for it to work.

jesso

So I've been using YNAB for a few months, and I've been quite strict about it inputting money in / out.
Thing is.... I seem to be using it a spending / income tracker, and not as a budgeting tool.
I think I understand how the budgeting thing works, but I just can't make it work for me. I think seeing people who use it successfully in real life would be a real help.
I'd love to sit down with someone from the group some morning over coffee and see if I can get a handle on it.

keane2097

jesso wrote: »

So I've been using YNAB for a few months, and I've been quite strict about it inputting money in / out.
Thing is.... I seem to be using it a spending / income tracker, and not as a budgeting tool.
I think I understand how the budgeting thing works, but I just can't make it work for me. I think seeing people who use it successfully in real life would be a real help.
I'd love to sit down with someone from the group some morning over coffee and see if I can get a handle on it.

Are you assigning your income to categories as it comes in? You should be making conscious decisions about what your money is going to be doing as it comes in and assigning it to the appropriate categories.

If you are doing this and your spending is not reflecting the decisions you are making for your money up front then you have to think about either changing your behaviour or changing how you are assigning your income.

I can imagine that setting up pie in the sky category budgets would lead to the tool being ineffective. For example if I were to budget €50 to my restaurants category for the month I might be so far gone over it by the middle of week 2 that it is an irrelevance. If I set it to €200 and I'm gone over it by the middle of week 2 it would be a jolt to tell me I might need to curb my enthusiasm.

wassie

Hi jesso.

Firstly congrats in tracking your income and expenditure - I see this as the biggest obstacle stopping people from successfully using YNAB. If you are able to diligently do this then you have literally done the hard work part of the process. Budgeting is actually quite simple and once you are familiar you can often do this in as little as 10 mins a month.

Have you tried any of the free YNAB classes: www.youneedabudget.com/classes

If not then I suggest doing a few of these - they are essentially online workshops/webinars and offer great practical walkthroughs. Plus you get to ask questions from the tutors whom are very experienced.

I did most of these and whilst a lot of it I knew already, there were a few 'ah-ha' moments which set me on my way.

Let us know how you get on an if your still in a bother give us a shout out.

jlm29

I downloaded ynab last night in my laptop and phone (I’m sick of always waiting for my wages to land!!). I need to have a good play around with it, but it seems a bit complicated!! I have limited time at the moment for tutorials, etc. Could anyone recommend a good but quick one to start on??

howamidifferent

jlm29 wrote: »

I downloaded ynab last night in my laptop and phone (I’m sick of always waiting for my wages to land!!). I need to have a good play around with it, but it seems a bit complicated!! I have limited time at the moment for tutorials, etc. Could anyone recommend a good but quick one to start on??

All of the beginner tutorial videos are here, 10 minutes each.

jlm29

Thank, I had a quick look at the first one today.
I sat down and played with it for a while today. I have realised that the reason I have no money is that there’s more going out than coming in. Depressing! Time to start eating beans on toast!

RexHamilton

Would people recommend this as the best spending tracker/ budgeting app/ programme around at the moment?

I was in the states last year and a friend had Mint. It's linked to your bank account, savings and credit card accounts and made the whole thing really easy. There doesn't seem to be anything as straight forward around in Ireland though.

howamidifferent

Mint is USA based and is a retrospective look at your spending. YNAB is forward looking as you budget your money. Much better to clarify your priorities. Get a hold of YNAB4 , better than the new online version and doesn't cost €83 per year!

keane2097

The idea of YNAB is to decide in advance what your money is going to be used for. You then record your spending as it happens and so are made cognisant of how much you have spent this month for each category (groceries, clothes, booze etc) and are able to adjust your spending and/or your allocation for the remainder of the month.

Mint auto-tracking your purchases is almost tangential to budgeting. If I want to see transactions out of my bank account I can just look at my bank account. The transactions are already there, what am I going to do about them at that stage? 'Oh yeah I overspent again last month' - good to know but not really an action plan going forward.

RexHamilton

Ah OK, I see the difference. I like the sound of YNAB. Mint was handy because it was automatically tracking spending and transfers across all your accounts. But yeah, I think I'll try YNAB. Cheers.