Complete YNAB Budget Setup Tutorial 2020

[@rebeccaallen3728]

I avoided my YNAB subscription for almost a year because it overwhelmed and confused me! Your tutorial was so helpful and I feel like an expert now. Thank you for taking the time to do this! Ready to tackle 2021 :)

[@elstoni1]

I’m glad I’m not the only one. I tried a tutorial Nick did and it was even more overwhelming.

[@TheKatjee91]

This made SO MUCH sense! I quit YNAB two years ago because I gave up but I understood you on the first watch! I’m so excited to dive back in! Thank you 💖💖

[@thezilinskilife]

What a great, in depth explanation of how YNAB works. We love using YNAB. It definitely has a learning curve, but I agree. It’s a superior way to budget money, and it’s completely changed our relationship with our money and how we budget. Thanks for sharing.

[@mnm322]

I recently tried out YNAB and was so confused on how to use it. You definitely helped clear up a lot of questions! Thank you!

[@NormalJenniferG]

I love YNAB. I've been using it for 8 years. Finally have wrapped my head around how to use a credit card with it. Thankfully we don't use a credit card very often.

[@niecy803able]

Jennifer Gunter, please break it down for me.

[@KnitMomof3]

Thank you for this video. I just started using YNAB with the trial and within a couple of days I set up a sinking fund to pay for the annual fee. I was using the cash envelope method and it just didn't work for me. I now check the budget on my phone before I spend. Your video really explained things to make them more clear for me. :)

[@PlaninProgress]

So glad to find your channel! YNAB for life!

[@mikeflaherty1766]

This walkthrough was so helpful! I’m coming from a different software which was less involved and I found YNAB overwhelming but this simplified it so much. Thank you!

[@NateJackson12]

Way to go out and put so much great content into one video. This will help many people win in 2021

[@cindyrumsey3707]

i have been using Mvelopes for 15 years, they will no longer be available after December. Trying to set up and figure out YNAB has been a nightmare, I'm sure I will get there but not without help. I have contacted YNAB's support and have not had any luck HOWEVER I FOUND YOUR CHANNEL WHICH IS AMAZING. I am finally getting somewhere and understanding how to record a transaction. I haven't finished listening to this entire video yet because I keep going back and forth to my budget but you are a gem, thank you!!!!

[@shaunnabach7558]

Do you have a video explaining how to split an expense. Say I went to Walmart, bought t-shirts, laundry detergent and Dog food. How do I put each of these items in their separate categories?

[@margaretcraig6538]

Like you, I used YNAB classic for a few years and then I switched to Mint Intuit because I am a cheapskate! Anyway, I missed YNAB soooo much that I decided to start again and pay for it. It is, however, more complicated than the old format so thank you so much!

[@dinabelanger2561]

OMG I am starting my free subscription and think this will be amazing and you are too but it's sooooo fast and mind blowing to grasp all at once!

[@SmartMoneyMamas]

Take it slow! You can do this! If it helps, watch the video in parts. :)

[@geminiblue43]

Are you planning to do an update to this video talking about the July 2021 changes??

[@ruthwawo2905]

So much information, but you explain it well. Great job!!! Thank you for sharing this!

[@corrineturner4122]

Do you have a profit first YNAB video for businesses? I use YNAB for my business and use profit first concept to budget. I'd love to see this in action through a video and use it for the full potential. I really appreciate all your time and great video! Thank you!

[@MaryPetersonCook]

What about when you buy from multiple categories with one transaction? Like I go and get groceries, toiletries, and clothing in one transaction?

[@guitarman2134568]

I really need to get familiar with the credit card portion of this. I buy EVERYTHING on my Amazon card. I pay it off every month so I don't deal with interest, but I do not buy anything on my debit card. I need those free Amazon points!

[@brandystone7549]

Thank you!! This was awesome!! This cleared up so much for me. THANKYOU!!!!

[@tatumwrobel9024]

this is super overwhelming...i am gonna need more help with this. i'm trying to follow along and i'm overwhelmed and easily confused!!LOL

[@TerraAcox]

I have been trying to use YNAB but I just don't find it useful. I look at the transactions and none of my transactions are there except my transfers which I can't get to go away even though they are just transfers between accounts. I go to the reports and it says I have no income even though I have had my accounts linked for two months. The thing I wanted is a way to track and budget monthly for different savings goals, which is all I'm using if for now.

[@cheysenvelopes]

How would you handle refunded transactions? Especially on a credit card? And how is this managed if you’re a cash spender?

[@jameshuseby9931]

Would to see do more ynab videos

[@vijo461]

I having trouble tracking my variable lifestyles expenses; do you have any tips or a video you can link? thank you

[@maxstinehour6662]

YNAB is fantastic and this is a great video on the setup. This is the first I've seen on the Toolkit for YNAB. With the permissions granted, do you have any security concerns?

[@erinmaycroft3573]

Loved this tutorial! I'm very excited to get going. Quick question - I added the chrome extension, but not sure where I find the age of my money? I know it's not old yet as I just opened the whole account, but I'm not seeing where I monitor it. Thanks!

[@Jonson0269]

hello was wondering how you create individual long ins? thanks for your help!

[@pstimpert]

Thanks, that was incredibly helpful!

[@TeeJai601]

Is there a way to track a retirement account even if it automatically comes out of your check before your check hits the bank?

[@philipgardiner2003]

I have "Ready to Assign" vs To be Budgeted" at the top of my budgeting page. Why?

[@SmartMoneyMamas]

They changed that language since I recorded the tutorial. Not sure why they did but it's the same function

[@philipgardiner2003]

Also, to see the underfunded amount, now you need to click the “Assign” box and it is in the drop down menu. However, I am seeing two different amounts: Ready to assign at the top (formerly to be budgeted) = $13,830.53 and “Available in September” on the right hand side of the budget page says $8,583.76 and assigned in September is $8583.76. WTF???

[@violagoebl9588]

Hi, I am new to YNAB.... still in trial, and like what I see and have learned so far. I have just taken over the budgeting process for us and have one big question ... how do I begin when my bank account is well into the black? Not a bad situation to be in, yet, I am a senior and want/need to know where my money is going. How begin with the budgeting in this situation?

[@SmartMoneyMamas]

I would start funding future months - Move to February or March and start filling in your expenses so you know how much cushion you have!

[@terdbrain484]

I want to use it for personal budget (profit first strategy) and business budget (profit first). My business is a event production company and i supply staff to clients on payroll along with getting rentals for client. The invoice has 20% service fee of budget spent for rentals and the payroll staff are ran through gusto. Clients typically pay invoice net 15-30 so i meed to cover payroll and rentals at time of event. Wondering how to build my ynab to accomodate this structure

[@enochkingston1183]

@smart money mamas i heard you say that you can have 2 logins to have to people share budgets and have private ones. Is there a way you can have more then 2? I ask because what if i want my kids to be on in but i don't want them to see each others budgets but i want to see them all.

[@megcaistor]

Such a useful video, thank you! Question: How do you organize all your different goals in the bank itself? I know banks like Ally have savings "folders", but they only allow 8-10 folders and because it's in their savings account, it's not ideal for sinking funds that are useful to set aside and withdraw monthly, like rent etc. Just wondering if you have a way of organizing everything in the bank?

[@SmartMoneyMamas]

I don't organize things at the bank level - it all just sits in the same checking account because if I'm going to make big purchases I look at YNAB, not at my bank balance. The only thing that is separate is my emergency fund which is in a high-yield savings account.

[@tonigarner8051]

This was very helpful! How do you rollover a negative balance from one month to the next? My son borrowed money and is making payments to pay me back. I have it entered in YNAB with a negative balance do I don't lose track of it. Every time he makes a payment I post it to that category.

[@Jennbeastie75]

I would like to know about streaming services I have a few like Netflix Disney plus I put those on my Credit Card every month I made a streaming Service catergory and have made goals for them all but do i need to do that if they are being charged to my credit card every month and I pay my credit card off every month so would i need that catergory then love your video it has helped me so much

[@jayvansickle7607]

My biggest struggle with YNAB is how, since it's not a zero dollar budget, while you're gosling/funding... Making sure that you aren't planning more than your monthly income. I did it manually... But, it'd be nice to see that in the program.

[@jayvansickle7607]

... And... You just covered it with the under budget category. Thanks.

[@ambersawyer6305]

Love this video. I'm still struggling with how to show the credit cards are paid in YNAB. When I move money to the card then it all sits there. I haven't reconciled yet. Is that what clears the balance after we pay the card off?

[@goofydumbgoofyhobtch2765]

Are your accounts linked? After you pay the bill that transaction will show in checking, then you transfer that to your CC account.

[@ambersawyer6305]

@@goofydumbgoofyhobtch2765 No, hubby and I both don't feel comfortable logging into ynab with our bank account info. Technically, everything is secure online until it isn't and their is a breach. We don't feel it's worth the risk

[@goofydumbgoofyhobtch2765]

@@ambersawyer6305 I get it but they use the same security protocol as the CIA so I figure they are far more secure than the platforms they are linked to.

[@danyellewilson3459]

Can YNAB actually keep up with your total retirement amount or only what you are contributing?

[@SmartMoneyMamas]

It has a space for "Tracking Accounts" - savings or investments that don't actually go into your budget so you can track net worth!

[@sherreebarnes1863]

Your tutorial definitely helped, however, I found that you moved quickly sometimes through some of the steps/instructions. How do you turn the toolkit on and off on YNAB?

[@SmartMoneyMamas]

You can do it right in the Chrome extension. Just toggle the Toolkit off and refresh the page. I absolutely went faster through some things than I would have liked, was trying to fit everything in that I could! Let me know if you have any other questions I can expand on

[@sherreebarnes1863]

Got it, thanks!

[@devlinfae]

Starting to use YNAB: Can I enter everything manually without connecting accounts?

[@SmartMoneyMamas]

yes, absolutely! Reconciling then becomes even more important so you know you're working with correct numbers

[@PaulSullivan828]

I wish I could figure out how to setup the shared logins you mention? You said you login and see the family budget and your individual budget, and your husband sees the family budget and "his" spending budget? I even reached out to YNAB support and they couldn't help. :)

[@SmartMoneyMamas]

Hi Paul! I apologize - when I recorded I didn't realize that tool was still in beta. YNAB plans to roll it out soon!

[@devlinfae]

I haven't watched the whole video, but I have a question: How do I add my current savings balance in? I think I managed to do so, but then it shows up as To Be Budgeted.

[@SmartMoneyMamas]

Savings accounts still get put in "To be budgeted" - later on in the video I'll show how to just create budget categories for Emergency Fund and Savings

[@devlinfae]

@@SmartMoneyMamas I added the amount, but it seems like it's doubling the transaction. Added EF, $2,000.02, to accounts section. Added a new transaction, outflow, to my EF savings category. Now it shows the balance of the account at 4,000.04

[@SmartMoneyMamas]

​@@devlinfae You don't want to create a transaction. You just want a budget category called "Emergency Fund" and you want to budget the money in your savings account into that category. I show specifically how to do it at 31:11

[@devlinfae]

@@SmartMoneyMamas I think I fixed it!

[@MartinLabuschin]

Why don't you simply add recurring transactions for your regular expenses? This way, you don't need to enter these every single time and also don't need to setup goals for those categories and still be able to use the underfunded button.

[@SmartMoneyMamas]

We absolutely could do that, but since I use auto-import I don't really have to fill them in anyway so I just use the goal setting

[@kgoelz0103]

I am not sure I understand how to handle paychecks and deposits

[@SmartMoneyMamas]

Hi Karen! Those transactions would simply come in and the "Category" would be "To Be Budgeted" - then that money will be shown as available on the budget page to be allocated to your different budget categories. Does that make sense?

[@kgoelz0103]

@@SmartMoneyMamas yes, if it am paying bills out of two different checking accounts should I not link the accounts?

[@aprillegros8054]

Omg. She talks so fast that I can’t even keep up 😩